Filing the I-829 petition to remove conditions on permanent residency for EB-5 investors can be a complex process. The I-829 must be submitted within 90 days before the second anniversary of the investor’s conditional residency and requires substantial evidence to prove eligibility. In this post, we’ll explore three common challenges in the process and how they can be successfully addressed.
Proving Sustainment of Investment
To remove conditions, EB-5 investors must prove that their investment was sustained throughout the required period. USCIS often relies on Schedule K-1s to verify the investor’s capital. However, accounting methods or unavailable K-1s can lead to discrepancies, prompting a Request for Evidence (RFE).
In such cases, we use the NCE’s financial records or bankruptcy court documents to demonstrate that no return of capital occurred. By thoroughly analyzing financial statements, we can prove that the investment was sustained, even without K-1s.
Demonstrating Job Creation
EB-5 regulations require the creation of 10 full-time jobs for U.S. workers. This can be particularly challenging when businesses face high turnover or have ceased operations by the time of the I-829 filing.
We address this by auditing payroll records and using employment contracts or forensic accounting to estimate hours worked. According to USCIS guidelines, jobs don’t need to exist at the time of the petition as long as they were permanent when created. This flexibility allows us to meet the job creation requirement, even in difficult cases.
Handling Redeployment
Visa backlogs often mean that projects are completed before investors are eligible for condition removal, requiring the redeployment of capital. USCIS can issue RFEs questioning whether redeployment meets the “at risk” requirement.
We resolve this by submitting detailed reinvestment statements, offering documents, and bank records tracing the flow of funds. By ensuring the capital remains at risk, we satisfy USCIS’s redeployment standards.
Conclusion
Navigating the I-829 process requires careful preparation and strategic responses to potential RFEs. At NPZ Law Group, we use our expertise to help investors overcome challenges in investment sustainment, job creation, and redeployment, ensuring successful condition removal.
Contact Information
If you or your family members have any questions about how immigration and nationality laws in the United States may affect you, or if you want to access additional information about immigration and nationality laws in the United States or Canada, please do not hesitate to contact the immigration and nationality lawyers at NPZ Law Group. You can reach us by emailing info@visaserve.com or by calling us at 201-670-0006 extension 104. We also invite you to visit our website at www.visaserve.com for more information.