Some EB5 projects promote themselves as being in the “national interest,” but this term has a very specific meaning in US immigration—and in EB5. Regional centers and developers can request USCIS for an expedited review of their EB5 project, arguing national interest when they file the I-956F petition for project approval. However, obtaining this acceptance does not automatically guarantee project approval. It means the petition gets processed faster. Sherman Baldwin, CEO of LCR Capital Partners, highlights that critical minerals are increasingly being positioned as national interest cases. “Securing a domestic supply of rare earth and critical minerals is a top national priority for the US today,” he explains. Baldwin also noted that some investors in LCR Capital Partners’ expedited project saw quick I-526 approvals, but only because the project qualified for the Rural set-aside priority. He believes USCIS should refine the EB5 project review process. “We view national interest projects as an important future direction for the EB5 program.”
Read the full article here.
