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ATLANTA (April 28, 2024) – Peachtree Group("Peachtree") has received its I-956F approval from U.S. Citizenship and Immigration Services (USCIS), the government agency that oversees the EB-5 Immigrant Investor Program, for the currently under construction SpringHill Suites by Marriott in Bryce Canyon, Utah.
The I-956F approval, granted by USCIS, marks a crucial step in Peachtree’s ongoing efforts to facilitate investment opportunities through the EB-5 program, which is designed to promote economic growth and job creation in the U.S.
“Securing USCIS approval for this project marks an important milestone,” said Adam Greene, executive vice president of EB-5 at Peachtree. “It highlights our continued focus on structuring and originating capital for high-quality developments that generate economic impact and long-term value for investors and communities.”
Peachtree originated $16.95 million in floating-rate construction financing over a three-year term for the development of a 127-room SpringHill Suites in Bryce Canyon, Utah. The hotel will be located about 10 minutes from Bryce Canyon National Park, one of the most iconic natural attractions in the United States. Known for its dramatic geological formations, the park draws more than 2 million visitors annually. The hotel is expected to be completed by mid-2025.
This is the third hotel development for which Peachtree has received I-956F approval, having previously secured it for its Home2 Suites by Hilton development in Boone, N.C.,and TownePlace Suites by Marriott in Palmdale, Calif.
“With strong travel demand, limited new supply and favorable market tail winds, well-located, newly developed assets are positioned to out perform their competitive set,” said Greene. “Construction is already underway, reducing project risk, and the firm has retained an equity stake aligned with our EB-5 investors — reinforcing our commitment and directly tying our success to theirs.”
Peachtree launched its EB-5 program in 2023 as a key financing tool to support job-creating projects nationwide. The firm remains committed to delivering high-quality investment and development opportunities through its expanding portfolio of EB-5 projects.
The EB-5 visa program allows foreign investors to obtain a green card in exchange for making a significant investment in a new commercial enterprise that creates jobs in the U.S. Under the program, foreign nationals who invest a minimum of $800,000 in a U.S.-based project that creates or preserves at least 10 full-time jobs for U.S. workers are eligible to apply for permanent residency.
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Form I-485, or the "Application to Register Permanent Residence" allows an EB-5 investor to adjust their investor's status from a non-immigrant to a conditional permanent resident (CPR). To take advantage of this, the EB-5 investor must already be in the United States lawfully on a non-immigrant visa such as a F-1 or H-1B. The form is generally filed after the I-526E Petition which is the first step in the EB-5 visa process. This blog post explains how the Form I485 fits into the overall EB-5 process, the essential documents needed, and how to avoid potential delays in the adjustment of status journey.
The passing of the EB-5 Reform and Integrity Act of 2022 (“RIA”) allowed EB-5 investors to file Form I-485 concurrently with Form I-526E if visas are available. This is called concurrent filing and allows investors to remain in the US while their application is processed. In short, if you are in the U.S. you can stay in the U.S. while you wait for the adjudication of your Form I-526E Petition.
Once the I-485 is approved, the investor becomes a conditional permanent resident which is good for two years. During this time, they need to fulfil the promise they made with the I-526 form to invest in a project that creates US jobs. In order to remove the conditional and become a permanent resident, the investor must file Form I-829 or the "Petition by Investor to Remove Conditions on Permanent Resident Status". Once this is granted, the investor and their eligible family members receive permanent green cards.
Investor Benefits During I-485 processing:
While the I-485 is processing, EB-5 investors may also file a Form I-765, "Application for Employment Authorization" and Form I-131, "Application for Travel Document" to receive an employment authorization and travel permit, which allows them to work in the US and travel while their applications are pending.
Peachtree Group encourages ourEB-5 investors to consult with their immigration attorney and to read through the Form I-485 form instructions as the specific evidence required with theForm I-485 application may vary depending on the immigrant category you are filing under.
Documents required to be submitted with your Form I-485 include:
As November 2024, the filing fee for Form I-485 is $1,440. The EB-5 investor pays additional filing fees if they are also filing Form I-765 and Form I-131. Be sure to check the USCIS website for the most up to date fee information. In addition, this site has information on what to do while you wait for your green card application.
By following the I 485 form instructions and submitting all the required evidence and supporting documentation at the time of the Form I-485 filing, EB-5 investors may avoid receiving a Request for Evidence (“RFE”) from USCIS.
Tips to prevent receiving an RFE include:
For more information about the I-526E Form and the EB-5 Immigrant Investor Program, consider consulting the following resources:
Form I-526E, also known as the "Immigrant Petition by Regional Center Investor," is the first petition filed by a foreign investor seeking to secure U.S. permanent residence through an investment in a new commercial enterprise associated with a USCIS-designated regional center. This blog post will provide a guide to Form I-526E, including an overview, documentation required for filing the petition, instructions for completion, costs, processing times, and how Peachtree Group can assist you throughout the application process. This is slightly different than a I-526 form, which is an "Immigrant Petition by Standalone Investor." You can read more here about the two different forms.
The I-526E form is the initial petition filed by an individual seeking an EB-5 visa. This form is submitted to the U.S. Citizenship and Immigration Services (USCIS) and is designed to demonstrate the applicant has made or is actively in the process of making a qualifying investment in a new commercial enterprise (“NCE”) associated with a USCIS -designated regional center, which will benefit the U.S. economy by creating ten (10) full-time jobs for U.S. workers. Approval of the I-526E petition is a crucial step in obtaining an EB-5 visa, which grants the investor and their immediate family members conditional U.S. permanent residency.
In short, Form I-526E is your promise to fulfill the requirements of the EB-5 program.
Given the complexity of the Form I-526E application, we advise our EB-5 investors to engage immigration attorneys with EB-5 experience to assist them with the preparation and filing of their I-526E Petition.
Filling out Form I-526E involves several steps, each requiring careful attention to detail. Generally, these steps are done by the EB-5 investor’s immigration attorney. Using the latest version of Form I-526E from the USCIS website, attorneys need the investors to provide personal details, including full name, date of birth, nationality, mailing address, physical address for the past five (5) years, employment history, as well as information about the EB-5 investor’s spouse and children.
The Form I-526E also requires information about the Regional Center and the project application. Peachtree Group provides that information as part of the I-526E Template prepared forEB-5 investors in each of our projects.
Form I-526E also asks for information about the investment. EB-5 investors provide details about the investment amount, the composition of their investment and the source of the invested funds. The EB-5 investors must submit documentation proving the investment funds have been lawfully obtained. In addition, Form I-526E asks for information about visa processing, immigration proceedings, as well as bonafides of persons involved with the Regional Center Program.
Unlike the I-526 Petitions filed before the EB-5 Reform and Integrity Act of 2022 (“RIA”), when the petitions included the offering documents, project related documents and the investor specific documents, I-526E Petitions filed post RIA are mainly comprised of documentation of the EB-5 investors’ lawful source of capital.
The typical documents filed with Form I-526E Petition includes:
1. Investment in a USCIS-designated Regional Center: Post RIA, Regional Centers must file a Form I-956F, Application for Approval of an Investment in a Commercial Enterprise before any EB-5 investors can file their Form I-526E Petitions. As evidence of an invest in a new commercial enterprise for which the Regional Center has filed a Form I-956F, the EB-5 investors should provide a copy of the Receipt Notice or the Approval Notice received from USCIS for the Form I-956F filing. Peachtree Group is providing the Receipt Notice or Approval Notice as part of the I-526E Template petition prepared for the EB-5 investors in each of our projects.
With the Form I-956F filing, Peachtree, through the Regional Center, provides USCIS the full package of the offering documents, the business plan, economic impact report, Regional Center designation letter, as well as numerous other project related documents.
Please note: USCIS specifically asked during one of their engagements not to resubmit the documents filed with the I-956F, but to include the Receipt Notice with the investor’s Form I-526E Petition.
In addition, in Part 4, Information About Your Regional Center and Project Application of the FormI-526E, the EB-5 investors are supposed to provide specific information about the filed Form I-956F, the Regional Center, the NCE and the project, which allows USCIS to associate their I-526E filing with the Form I-956F filed for the project they selected for their EB-5 investment. Peachtree is also provides this information with the Sample Form I-526E, part of the I-526E Template petition.
2. Investment: The EB-5 investors must provide evidence they have invested or are actively in the process of investing the required amount of capital. The EB-5 investors must invest $1,050,000 or $800,000 if the investment is made in a project located in a rural or high unemployment targeted employment area (“TEA”) or an infrastructure project.
The NCE is a for-profit organization formed in the United States after November 29, 1990 for the ongoing conduct of lawful business that receives, or is established to receive, capital investment from immigrant investors. Such evidence may include but is not limited to, copies of wires, bank statements showing amounts deposited into the separate account established for the NCE, evidence of monies transferred or committed to be transferred to the NCE in exchange for shares of stock that cannot be redeemed at the holder’s request, or any loan or mortgage agreement, promissory note, security agreement, or other evidence of borrowing that is secured by assets owned by the EB-5 investors (other than those of the NCE) and for which the EB-5 investors is personally and primarily liable.
3. Lawful Capital: TheEB-5 investors must provide evidence the capital they have invested or are actively in the process of investing, as well as any funds used to pay administrative costs and fees, were obtained through lawful means.
Such evidence may include but is not limited to:
I-526E Processing Time: At the time of this publishing, USCIS has yet to publish their processing time for the new Form I-526E. Invest in the USA (“IIUSA”), the industry trade association for the EB-5 Regional Center Programs, has recently published an analysis of data collected from the EB-5 industry and concluded that the I-526E Petitions associated with a project located in a rural TEA were approved in 10 months on average, with a normal range of 6 to 15 months, while I-526E Petitions associated with a project located in a high-unemployment TEA were approved in approximately 14 months on average, with normal range of 11 to 16 months.
Cost: As of November 2024, the I-526E filing fee is $11,160. If the EB-5 investors are filing their initial Form I-526E on or after October 1, 2022, they must include a separate fee of $1,000 as required by RIA. Be sure to check the USCIS website for the most up to date fee information.
Navigating the EB-5 application process can be complex. Peachtree Group offers comprehensive support to investors throughout the I-526E petition process, including:
What is the I-526E Form?
Form I-526E is an application used by foreign nationals pooling their investment with one or more qualified immigrants participating in the Regional Center Program to petition for an EB-5 visa. It demonstrates that the investor has made or is in the process of making a qualifying investment in a new commercial enterprise and meets the program’s requirements for obtaining conditional U.S. permanent residency.
What Do I Need to Fill Out an I-526E?
EB-5 investors must provide personal identification information, details about the investment amount and enterprise, evidence of the lawful source of investment funds.
What Happens After the I-526E Form is Approved?
Once Form I-526E is approved, the next step is consular processing or adjustment of status. If you are outside the U.S., you will attend a visa interview at a U.S. embassy or consulate.
If you are already in the U.S., you can concurrently file for adjustment of status with your Form I-536E Petition. After obtaining an EB-5 visa, you and your immediate family members can become conditional permanent residents, with the conditions removed upon proving that the investment has met the program requirements.
By understanding the Form I-526E Petition, you will be well-prepared to start navigating the EB-5 application process successfully. If you need assistance, Peachtree Group is here to provide expert support and ensure your application is filed accurately and efficiently.
For more information about the I-526E Form and the EB-5 Immigrant Investor Program, consider consulting the following resources:
조지아주 애틀랜타 — 피치트리 그룹 (이하 “Peachtree”) 는 EB-5 투자이민 프로그램을 감독하는 정부 기관인 미국 시민권 및 이민국 (USCIS) 으로부터 회사의 I-956F 승인을 받았습니다. 타운플레이스 스위트 바이 메리어트 현재 건설 중인 캘리포니아 팜데일에 있습니다.
USCIS가 승인한 I-956F 승인은 미국의 경제 성장과 일자리 창출을 촉진하기 위해 고안된 EB-5 프로그램을 통해 투자 기회를 촉진하려는 Peachtree의 지속적인 노력의 중요한 단계입니다. 이는 Peachtree가 이전에 노스캐롤라이나 주 분에 있는 Home2 Suites by Hilton 개발에 대한 승인을 받은 두 번째 호텔 개발입니다.
피치트리의 EB-5 담당 수석 부사장인 애덤 그린 (Adam Greene) 은 “팜데일 프로젝트에 대한 USCIS 승인을 받게 되어 매우 기쁘다”고 말했다.“이러한 성과는 경제 성장을 촉진하고 투자자와 지역 사회 모두에게 의미 있는 기회를 창출하는 고품질 개발을 제공하겠다는 우리의 지속적인 노력을 보여줍니다.”
팜데일에 위치한 타운플레이스 스위트 바이 메리어트 (TownePlace Suites by Marriott) 는 비즈니스 및 레저 여행객 모두의 요구에 맞는 현대적인 숙박 시설과 편의 시설을 제공하는 최고의 장기 숙박 호텔이 될 것으로 예상됩니다.이 호텔은 2025년 봄까지 완공될 예정입니다.
“우리는 호텔 개발에 초점을 맞추고 있습니다. 이 부문은 경제 문제를 해결하는 데 있어 민첩성과 유연성을 제공하면서 회복력이 매우 뛰어나다는 것이 입증되었기 때문입니다.신규 호텔 공급은 제한적이고 여행 수요는 급증하는 상황에서 특히 탄탄한 펀더멘털과 시장 역학이 상당한 기회를 창출하는 포스트 코비드 시대에 신규 자산의 성과가 뛰어날 것으로 예상됩니다.향후 10년 동안 전 세계 여행 지출이 15조 5,000억 달러에 달해 인플레이션을 앞지르고 있다는 전망은 호스피탈리티 산업의 장기적 잠재력을 더욱 강조하여 매우 매력적인 투자 기회가 될 것입니다.” 라고 Greene은 말했습니다.
Peachtree는 2023년에 전국적인 일자리 창출 프로젝트를 지원하는 주요 자금 조달 수단으로 EB-5 프로그램을 시작했습니다.회사는 확장된 EB-5 프로젝트 포트폴리오를 통해 양질의 투자 및 개발 기회를 제공하기 위해 최선을 다하고 있습니다.
“홈2 스위트와 마찬가지로 타운플레이스 스위트 개발에는 상당한 소유주 지분 투자가 포함됩니다.Greene은 이렇게 EB-5 투자자들과의 이해관계를 일치시킴으로써 공동의 헌신을 촉진하고 프로젝트의 성공에 대한 확신을 강화하며 모든 이해관계자들을 안심시킬 수 있습니다”라고 덧붙였습니다.
EB-5 비자 프로그램은 외국인 투자자가 미국에서 일자리를 창출하는 새로운 영리 기업에 상당한 투자를 하는 대가로 영주권을 취득할 수 있도록 합니다. 이 프로그램에 따라 미국 근로자를 위해 최소 10개의 정규직 일자리를 창출하거나 유지하는 미국 기반 프로젝트에 최소 80만 달러를 투자한 외국인은 영주권을 신청할 수 있습니다.
피치트리 그룹 소개
피치트리 그룹 상업용 부동산에 기반을 둔 위축된 시장에서 기회를 파악하고 활용하는 것을 전문으로 하는 수직 통합 투자 관리 회사입니다.오늘날 이 회사는 인수, 개발 및 대출 전반에 걸쳐 수십억 달러의 자본을 관리하고 있으며 투자를 보호, 지원 및 확대하도록 설계된 서비스를 제공합니다.자세한 내용은 www.peachtreegroup.com을 참조하십시오.