U.S. Citizenship and Immigration Services (USCIS) seeks
public comments on a proposed rule published in the Federal Register yesterday
that would enable USCIS to process certain applications approved between 1995
and 1998 by immigrant investors under the fifth preference employment-based
immigrant visa classification, also known as EB-5.
The proposed rule would implement provisions of the 21st
Century Department of Justice Appropriations Authorization Act. These provisions
apply to a group of immigrant investors who had a Form I-526, Immigrant
Petition by Alien Entrepreneur, approved between Jan. 1, 1995, and Aug. 31,
1998.
Specifically, the rule would enable USCIS to process cases
for approximately 580 principal immigrant investors and their dependents whose
Forms I-526 were approved during the period described above and who, prior to
Nov. 2, 2002, sought to:
·
Register for permanent residence or adjust their
status (using Form I-485); or
·
Remove conditions on permanent residence
obtained as an alien entrepreneur (using Form I-829).
The processes outlined in the proposed rule would provide
an additional two-year period for most of these immigrant investors to meet the
EB-5 investment and job-creation requirements. This rule would not impact any
other applications or petitions filed under the EB-5 program.
EB-5 visas are available to immigrants seeking to enter the
United States to invest
capital in a commercial enterprise that will create at least 10 full-time jobs
for qualifying U.S.
The public has 60 days—from Sept. 28 to Nov. 28,
2011—to submit comments on this proposal, which is available for review at www.regulations.gov.
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