Application for Regional Center Under the Immigrant Investor Pilot Program

OMB No. 1615-NEW; Expires 00/00/0000

DRAFT - Not
ForforProduction
Instructions
Form I-924, Application for Regional

Department of Homeland Security
U.S. Citizenship and Immigration Services

Center Under the Immigrant Investor Pilot Program

What Is the Purpose of This Form?

General Instructions

This form is used to:

Fill Out the Form

1. Apply to U.S. Citizenship and Immigration Services
(USCIS) to request designation of an entity to be a regional
center under the Immigrant Investor Pilot Program.

1. Type or print legibly in black ink.

2. Request approval of an amendment to a previously
approved regional center. An amended regional center
designation request may include requests for
determinations relating to any or all of the reasons for
filing an amendment request noted below.
A. An amendment request may be filed to seek approval
of changes to the Regional Center's:
1. Geographic area;
2. Organizational structure or administration;
3. Capital investment projects, to include changes in
the economic analysis and underlying business plan
used to estimate job creation for previously
approved investment opportunities and industrial
clusters;
4. Affiliated commercial enterprise's organizational
structure and/or capital investment instruments or
offering memoranda.

2. If extra space is needed to complete any item, attach a
continuation sheet, indicate the item number, and date and
sign each sheet.
3. Answer all questions fully and accurately. State that an
item is not applicable with "N/A." If the answer is none,
write "none."

Who Must File a Form I-924 Supplement for
Each Fiscal Year?
Each designated regional center entity must file a Form I-924
Supplement for each fiscal year (October 1 through September
30) within 90 days after the end of the fiscal year (on or before
December 29) of the calendar year in which the fiscal year
ended.

Initial Evidence Requirements
1. Initial Evidence Requirements for filing:

B. An amendment may also be filed to seek a preliminary
determination of EB-5 compliance for documentation
provided as an exemplar Form I-526, Immigrant
Petition by Alien Entrepreneur, prior to the filing of
Form I-526 petitions by individual alien entrepreneurs
with USCIS.

Who May File This Form?
This form may be filed by an individual on behalf of a State or
local governmental agency, a partnership, or any other
existing business entity established in the United States and its
territories by an individual, who has the executive or
managerial authority to seek the Regional Center designation,
or an amended designation.

A. A request for the Approval and Designation of a
Regional Center; or
B. An Amendment to a Previously Approved Regional
Center Designation.
2. The Regional Center must focus on a geographical area.
This area must be contiguous and clearly identified in the
application by providing a detailed map of the proposed
geographic area of the Regional Center.
3. Each Regional Center must fully explain how at least 10
new full-time jobs will be created by each individual alien
investor within the Regional Center either directly or
indirectly.

Form I-924 Instructions (08/04/10)

DRAFT - Not For Production
Provide an economic analysis that relies on statistically
valid forecasting tools that shows and describes how jobs
will be created for each industrial category of economic
activity (for example, manufacturing, food production/
processing, warehousing, tourism and hospitality,
transportation, power generation, agriculture, etc.)
The job creation analysis for each economic activity must
be supported by a copy of a business plan for an actual or
exemplar capital investment project for that category.
Note: A business plan provided in support of a regional
center application should contain sufficient detail to
provide valid and reasoned inputs into the economic
forecasting tools and must demonstrate that the proposed
project is feasible under current market and economic
conditions. The form of the EB-5 investment from the
commercial enterprise into the job creating project (equity,
loan, or some other financial arrangement) should be
identified.
The business plan should also identify any and all fees,
profits, surcharges, or other like remittances that will be
paid to the regional center or any of its principals or agents
through EB-5 capital investment activities.
Provide the industry category title and the North American
Industry Classification System (NAICS) code for each
industrial category. The NAICS code can be obtained from
the U.S. Department of Commerce, Census Bureau (www.
census.gov/epcd/www/naics.htm). Enter the code from
left to right, one digit in each of the six boxes provided in
the form in Part 3, item 7. If you use a code with fewer
than six digits, enter the code left to right and then add
zeros in the remaining unoccupied boxes.
The application should be supported by a statement from
the principal of the Regional Center that explains the
methodologies that the Regional Center will use to track
the infusion of each EB-5 alien investor's capital into the
job creating enterprise, and to allocate the jobs created
through the EB-5 investments in the job creating enterprise
to each associated EB-5 alien investor. The anticipated
minimum capital investment threshold (either $1,000,000
or $500,000) for each investor should also be identified.

NOTE: INA section 203(b)(5)(A)(ii) requires that each
EB-5 alien investor must create full-time employment for
not fewer than 10 U.S. citizens or aliens lawfully admitted
for permanent residence or other immigrants lawfully
authorized to be employed in the United States. (Jobs
created for the EB-5 alien investor and his or her spouse,
sons, or daughters do not qualify.)
8 CFR 204.6(j)(4)(ii) and 8 CFR 216.6(a)(4) provide a
means for EB-5 alien investors to meet the statutory
requirement of creating at least 10 jobs for qualifying U.S.
workers through capital investments in a “troubled
business.” The EB-5 alien investor's capital investment in
a “troubled business” must maintain the number of
existing employees at no less than the pre-investment
level for the period following his or her admission as a
conditional permanent resident.
In order to meet the requirements of INA 203(b)(5)(A)(ii),
each alien investor must create or maintain at least 10 jobs
through the capital investment in a troubled business. If a
regional center plans to focus on capital investments in
“troubled businesses” within the geographic area of the
regional center, then the economic analysis, business plan,
and feasibility study submitted must show that each EB-5
alien investor's capital investment in a “troubled business”
commercial enterprise will create or maintain at least 10
direct or indirect jobs.
4. Provide a detailed description of the past, current and,
future promotional activities for the regional center.
Include a description of the budget for this activity, along
with evidence of the funds committed to the regional
center for promotional activities.
Submit a plan of operation for the regional center which
addresses how investors will be recruited and how the
regional center will conduct its due diligence to ensure that
all immigrant investor funds affiliated with its capital
investment projects will be obtained from lawful sources.
5. Provide a general prediction which addresses the
prospective impact of the capital investment projects
sponsored by the regional center, regionally or nationally,
with respect to increases in household earnings; greater
demand for business services, utilities, maintenance and
repair; and construction both within and without the
regional center.

Form I-924 Instructions (08/04/10) Page 2

DRAFT - Not For Production
6. The application must fully describe and document the
organizational structure of the regional center. In addition,
it is helpful for the regional center to show that the capital
investment offering instruments, business structure, and
operating agreements of the proposed commercial
enterprises that will be affiliated with the regional center
are compliant with the EB-5 statutory and regulatory
requirements, as well as the binding EB-5 precedent
decisions.
NOTE: There are four EB-5 precedent decisions, which
may be accessed at http://www.justice.gov/eoir/vll/
intdec/lib_indecitnet.html:
i. Matter of Soffici, 22 I&N Dec. 158 (BIA 1998);
ii. Matter of Izummi, 22 I&N Dec. 169 (BIA 1998).
Note: Pub. L. 107-273 eliminated the requirement
set forth in Izummi that, in order for a petitioner to
be considered to have “created” an original
business, he or she must have had a hand in its
actual creation. Under the new law, an alien may
invest in an existing business at any time following
its creation, provided he or she meets all other
requirements of the regulations;
iii. Matter of Hsiung, 22 I&N, Dec. 201 (BIA 1998);
and
iv. Matter of Ho, 22 I&N Dec. 206 (BIA 1998).
Documentation of the above should be included but not
limited to:
A. A description and documentation of the business
structure of both the regional center entity and the
commercial enterprises that are or will be affiliated
with the regional center, such as articles of
incorporation, certificate of incorporation, or legal
creation as a partnership or limited liability company
(LLC), partnership or LLC agreements, etc.;
B. Draft subscription agreement for investment into the
commercial enterprise;
C. Draft escrow agreement and instructions, if any;
D. List of proposed financial institutions that will serve as
the Escrow Agent, if any;
E. Draft of an offering letter, memorandum, private
placement memorandum, or similar offering to be
made in writing to an immigrant investor offering
capital investments through the regional center; and

F. Draft memorandum of understanding, interagency
agreement, contract, letter of intent, or similar
agreement to be entered into with any other party,
agency or organization to engage in activities on behalf
of or in the name of the regional center.
NOTE: For your application submission and supporting
evidence for items 1 through 6 above, please use fasteners
to attach the documents at the top of each page, and
individually tab the corresponding written materials and
statements.

General Evidence
Translations. Any document containing foreign language
submitted to USCIS must be accompanied by a full English
language translation which the translator has certified as
complete and accurate, and by the translator's certification that
he or she is competent to translate from the foreign language
into English.

Copies. Unless specifically required that an original
document be filed with an application or petition, an ordinary
legible photocopy (standard 8 1/2 x 11 letter size) may be
submitted. Original documents submitted when not required
will remain a part of the record.

Where To File?
Submit Form I-924 and all supporting documentation to:
For direct mail, send to:
U.S. Citizenship and Immigration Services
California Service Center
Attn: EB-5 Processing Unit
P.O. Box 10526
Laguna Niguel, CA 92607-0526
For non-U.S. Postal Service deliveries (e.g., private couriers),
send to:
U.S. Citizenship and Immigration Services
California Service Center
Attn: EB-5 Processing Unit
24000 Avila Road, 2nd Floor
Laguna Niguel, CA 92677

Form I-924 Instructions (08/04/10) Page 3

DRAFT - Not For Production
What Is the Filing Fee?

Address Changes

The filing fee for this form is $6,230.

If you change your address and you have a Form I-924
application pending with USCIS, you may change your
address by sending notification to:

NOTE: There is no separate filing fee for the filing of Form
I-924A Supplement.
Use the following guidelines when you prepare your check or
money order for filing the fee:
1. The check or money order must be drawn on a bank or
other financial institution located in the United States and
must be payable in U.S. currency; and
2. Make the check or money order payable to U.S.
Department of Homeland Security, unless:
A. If you live in Guam and are filing your petition there,
make it payable to Treasurer, Guam.
B. If you live in the U.S. Virgin Islands and are filing your
petition there, make it payable to Commissioner of
Finance of the Virgin Islands.

For direct mail, send to:
U.S. Citizenship and Immigration Services
California Service Center
Attn: EB-5 Processing Unit
P.O. Box 10526
Laguna Niguel, CA 92607-0526
For non-U.S. Postal Service deliveries (e.g., private couriers),
send to:
U.S. Citizenship and Immigration Services
California Service Center
Attn: EB-5 Processing Unit
24000 Avila Road, 2nd Floor
Laguna Niguel, CA 92677

NOTE: Spell out U.S. Department of Homeland Security; do
not use the initials "USDHS" or "DHS."
Notice to Those Making Payment by Check. If you send us
a check, it will be converted into an electronic funds transfer
(EFT). This means we will copy your check and use the
account information on it to electronically debit your account
for the amount of the check. The debit from your account will
usually take 24 hours and will be shown on your regular
account statement.

Processing Information
Acceptance. Any application that is not signed or
accompanied by the correct fee will be rejected with a notice
that it is deficient. You may correct the deficiency and
resubmit the application. However, an application is not
considered properly filed until accepted by USCIS.

You will not receive your original check back. We will
destroy your original check, but we will keep a copy of it. If
the EFT cannot be processed for technical reasons, you
authorize us to process the copy in place of your original
check. If the EFT cannot be completed because of insufficient
funds, we may try to make the transfer up to two times.

Initial processing. Once Form I-924 has been accepted, it
will be checked for completeness, including submission of the
required initial evidence. If you do not completely fill out the
form or file it without required initial evidence, you will not
establish a basis for eligibility, and we may deny your Form
I-924.

How to Check If the Fees Are Correct

Requests for more information or evidence. We may

The form fee on this form is current as of the edition date
appearing in the lower right corner of this page. However,
because USCIS fees change periodically, you can verify if the
fees are correct by following one of the steps below:

request more information or evidence. We may also request
that you submit the originals of any copy. We will return these
originals when they are no longer needed.

1. Visit our Web site at www.uscis.gov, select "check Filing
Fees," and check the appropriate fee;
2. Review the Fee Schedule included in your form package,
if you called us to request the form; or

Decision. The decision on Form I-924 involves a
determination of whether you have established eligibility for
the requested designation, or an amendment to a previously
approved designation. You will be notified of the decision in
writing.

3. Telephone our National Customer Service Center at
1-800-375-5283 and ask for the fee information.

Form I-924 Instructions (08/04/10) Page 4

DRAFT - Not For Production
Approval. If you have established that you qualify for
Regional Center designation, or a designation amendment,
then the application will be approved. The approval notice will
provide information as to your responsibilities and obligations
as a USCIS-designated regional center, and the evidence to
submit in support of regional center-affiliated individual EB-5
petitions with USCIS, as well as details on the reporting and
oversight requirements for Regional Centers.
NOTE: Beginning with the fiscal year following approval,
each designated Regional Center entity must file the Form
I-924A Supplement for each fiscal year (October 1 through
September 30) within 90 days after the end of the fiscal year
(on or before December 29) of the calendar year in which the
fiscal year ended.
Designated Regional Centers must notify USCIS within 30
days of a change of address, contact information, regional
center principal(s), contracting agents or similar changes in the
operation or administration of the Regional Center.
Notification can be made by sending an e-mail to the EB-5
Program mailbox at:
[email protected].
NOTE: An original Form G-28 must also be provided
through the mail as outlined in the Form G-28 filing
instructions for changes in the attorney of record.

USCIS Compliance Review and Monitoring
By signing this form, you have stated under penalty of perjury
(28 U.S.C. 1746) that all information and documentation
submitted with this form is true and correct. You also have
authorized the release of any information from your records
that USCIS may need to determine eligibility for the benefit
you are seeking and consented to USCIS verification of such
information.
The Department of Homeland Security has the right to verify
any information you submit to establish eligibility for the
immigration benefit you are seeking at any time. Our legal
right to verify this information is in 8 U.S.C. 1103, 1155,
1184, and 8 CFR parts 103, 204, and 205. To ensure
compliance with applicable laws and authorities, USCIS may
verify information before or after your case has been decided.
Agency verification methods may include but are not limited
to: review of public records and information; contact via
written correspondence, the Internet, facsimile, or other
electronic transmission or telephone; unannounced physical
site inspections of residences and places of employment; and
interviews. Information obtained through verification will be
used to assess your compliance with the laws and to determine
your eligibility for the benefit sought.

benefit sought, the application will be denied. You will be
notified in writing of the reasons for the denial, and of the
regional center's right to appeal the decision to deny the
application to the Administrative Appeals Office as specified
in 8 CFR 103.3.

Subject to the restrictions under 8 CFR part 103.2(b)(16), you
will be provided an opportunity to address any adverse or
derogatory information that may result from a USCIS
compliance review, verification, or site visit after a formal
decision is made on your case, or after the agency has initiated
an adverse action which may result in revocation or
termination of an approval.

USCIS Forms and Information

Paperwork Reduction Act

To order USCIS forms, call our toll-free number at
1-800-870-3676. You can also get USCIS forms and
information on immigration laws, regulations, and procedures
by telephoning our National Customer Service Center at
1-800-375-5283 or visiting our Internet Web site at
www.uscis.gov.

An agency may not conduct or sponsor an information
collection and a person is not required to respond to a
collection of information unless it displays a currently valid
OMB control number. The public reporting burden for this
collection of information is estimated at 40 hours per response
for each application.

Denial. If you have not established that you qualify for the

To make an inquiry or ask a question about the Regional
Center Program you may send an e-mail to:
[email protected]

Form I-924 Instructions (08/04/10) Page 5

DRAFT - Not For Production
The estimated reporting burden for this collection of
information the time for reviewing instructions and
completing and submitting the form. Send comments
regarding this burden estimate or any other aspect of this
collection of information, including suggestions for reducing
this burden, to: U.S. Citizenship and Immigration Services,
Regulatory Products Division, 111 Massachusetts Avenue,
N.W., 3rd Floor, Suite 3008, Washington, DC 20529-2210.
OMB No. 1615-NEW. Do not mail your application to this
address.

Form I-924 Instructions (08/04/10) Page 6