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What is Form I-924?
Form I-924, also known as Initial Application for Regional Center is required by the United States Customs and Immigration Service (USCIS) so a foreigner can invest through a regional center. Under the Immigrant Investor Pilot Program, USCIS must approve Form I-924 in order for the regional center to operate legally.
Form I-924 is also used to request an update to an already-filed and recognized regional center request.
What other Documents Must be Submitted with the I-924 Initial Application?
Numerous supporting documents must be presented with the I-924 regional center application. The required forms of evidence vary based on the specific EB-5 project.
- Comprehensive map showing the proposed location of the regional center.
- A description of the projected regional center’s marketing efforts.
- Proof that each EB-5 investment will generate 10 full-time jobs.
- Evidence that the regional center will adhere to all EB-5 regulations.
What happens once the I-924 Initial Application is Approved?
As soon as the application is approved, the regional center designation is provided, and the EB-5 Regional Center can begin accepting foreign capital investment to facilitate EB-5 projects.
Who Should File Form I-924?
Immigration attorneys often file the I-924 initial application with the assistance of corporate & securities attorneys, accountants, economists, and business plan writers.
However, if Form I-924 Initial Application is for a state or a local economic development agency, a representative of the state or agency can file on their behalf.
On the other hand, if the application is being made for a business entity created in the United States, any individual who has the executive capacity to seek government designation on the entity’s behalf can complete and file I-924.
Where Should I File I-924 Initial Application?
If you choose to file I-924 through the Postal Service of the United States, you need to submit the fully-accomplished form plus the required documents to the USCIS California Regional Center in Laguna Niguel, California.
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