Friday, November 8, 2024

USCIS to reconsider denied I-526 petitions funded by loans

USCIS has officially announced it will reconsider denied I-526 petitions funded by loans or debts, other than individual assets according to the court order.

 

This comes as great news for the EB5 industry and applicants.

 

Applicants are required to email USCIS with their copy of I-526 denial and follow the instructions.

 

On Nov. 30, 2018, in Zhang v. USCIS, No. 15-cv-995, the U.S. District Court for the District of Columbia certified a class that includes any individual with a Form I-526, Immigrant Petition by Alien Entrepreneur, that was or will be denied on the sole basis of investing loan proceeds that were not secured by the individual’s own assets. The U.S. District Court for the District of Columbia vacated these denials and ordered USCIS to reconsider the petitions.

 

USCIS petitions

 

The EB-5 regional center program also further extended

 

On February 15, President Trump signed the HR 21  Consolidated Appropriations Act, 2019 that extends the EB-5 Regional Center Program authorization through September 30, 2019.

 

The official announcement is available here

Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment News. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

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