CHOOSING A USCIS REGIONAL CENTER AND A PROJECT: A DUE DILIGENCE LIST
Among more than 250 regional centers that have been designated by USCIS, some have long and well-established track records while others are newly established and relatively untested. The choice of regional center is especially important because the regional center’s continued existence and success demonstrated by predicted job creation accomplishment is very important for the I-829, conditional removal process.
In addition to choosing a regional center, an investor must choose a project as many regional centers have more than one project. The fact that one project of a particular regional center has been successful does not guarantee that the next one will be.
The following is a suggested due diligence list:
How many I-526 petitions and I-829 removal of condition applications have been filed by investors in the regional center? How many have been approved? How many have been denied?
What kind and how many years of experience does the general partner have in working with immigrant investor programs?
When will the investor be able to redeem his or her investment following condition removal? Does the Regional Center have clear exit strategy?
Optimally, it is important for the investor to have their own lawyer who will advocate for them without having conflict of interest or divided loyalty with the regional center. However, some regional centers mandate the use of their attorney exclusively. Others permit the investor to have his or her own private counsel, sometimes insisting on partnering with the regional center’s counsel and/or review by the regional center’s counsel.