What is the process for obtaining a Regional Center designation for EB-5 investors, and what are the current requirements?

The EB-5 Immigrant Investor Program allows foreign nationals to obtain U.S. permanent residence by making a substantial capital investment in a new commercial enterprise that creates or preserves at least 10 full-time jobs for qualifying U.S. workers. A key component of the program is the Regional Center designation, which allows investors to meet the job creation requirements through indirect or direct job creation within a designated geographic area.

Regional Center Designation Process (Form I-924/I-924A):

Entities seeking to become a USCIS-designated Regional Center must file Form I-924, Application for Immigrant Investor Program Approval (or Form I-924A Supplement if already designated), with USCIS. The application must demonstrate that the entity is organized to promote the economic development of the United States through the investment of foreign capital.

Key Requirements for Designation:

• Organizational Structure: The applicant must establish a formal organization (e.g., corporation, limited liability company) and provide detailed organizational documents.
• Geographic Scope: The applicant must define the specific geographic area the Regional Center will cover and demonstrate a commitment to serving that area.
• Promotion of Economic Growth: The application must detail a comprehensive business plan outlining how the center will source capital, administer investments, and specifically how these investments will lead to job creation (both direct and indirect/induced jobs).
• Compliance and Oversight: The applicant must detail plans for ongoing compliance, auditing, and oversight of the EB-5 capital being administered.

Current Status Note: Following the enactment of the EB-5 Reform and Integrity Act of 2022 (RIA), the process has been updated. USCIS now requires Regional Centers to file Form I-924A annually to maintain their designation, demonstrating continued compliance and activity. New applicants must demonstrate a concrete plan to meet the job creation requirements for future investors.

Investors who utilize a designated Regional Center benefit from more flexible job creation metrics (counting indirect jobs) and do not need to be involved in the day-to-day management of the investment, unlike direct EB-5 investments. The minimum investment required is currently USD 1,050,000, or USD 800,000 if the investment is made in a Targeted Employment Area (TEA).

Source: USCIS Final Rule on EB-5 Program Integrity and Reform, and Form I-924 instructions.