Regional Center Proposals Under the Immigrant Investor Pilot Program to Expire

Earlier this week, USCIS posted a reminder that Regional Center provisions related to the EB-5 Immigrant Investor Pilot program will expire at midnight on March 6, 2009. This expiration date will affect all Regional Center proposals and some Forms I-526, the Immigrant Petition for Alien Entrepreneurs, and Forms I-485, the Application to Register Permanent Residence or Adjust Status, related to Regional Centers’ reliance on indirect job creation analyses.

The previous five-year extension of the Immigrant Investor Pilot Program was set to expire on October 1, 2008; however legislation approved just before that date extended the program until march of this year. If this ‘sunset’ date is not extended again, those affected Regional Center sponsors and some Regional Center affiliated I-526 petitioners will no longer be able to benefit from indirect job creation after March 6. In addition, no new Regional Center proposals will be accepted by USCIS as of March 7, 2009.

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