How is the investment structured?
There will be a separate Limited Liability Company (“LLC”) for each project in which the NYCRC invests. Each investment will focus on a real estate project anticipated to result in direct and indirect job creation.  The foreign investor will become a member of the LLC. The NYCRC will be the managing member of each LLC. As managing member, the NYCRC will manage the everyday affairs of the LLC.  As individual members of the LLC, foreign investors will participate in certain LLC decisions and will receive a fixed percentage of the LLC’s cash flow. However, the investor will not be liable for any of the financial or non-financial obligations of the LLC beyond the amount of their initial investment.

Must I invest the full US$500,000 before applying for my Green Card?
Yes. The investment must be completed in full prior to filing your I-526 Petition to USCIS.

How is my interest in the LLC protected?
The USCIS requires that some financial risk be involved so we cannot guarantee the return of or any return on your investment, but the NYCRC does make all best efforts to minimize the amount of risk by seeking to have the investment  collateralized and the LLC in strong financial standing. All foreign investors will receive regular reports with financial and LLC information. A foreign investor can contact the NYCRC at any time to request any LLC information.

How can I submit my investment funds to the NYCRC?
In our offering materials, we provide a copy of our escrow agreement and the wire transfer instructions to the escrow bank account. Within 48 hours of your wire transfer, our office will receive a remittance confirmation for your records. A copy of the remittance confirmation is provided to you and is included as part of your I-526 Petition.

What is an escrow account and how does it protect me against the risk of losing my money?
An escrow bank account is a legal, interest-bearing account established in a banking corporation meeting all the legal requirements to operate in the State of New York. This type of account is commonly used in the sales of real estate, business, and personal property. After the funds are wired into the escrow bank account, the funds continue to belong to the investor. No money will be released from the escrow bank account to the project until the investor’s I-526 Petition is approved by the USCIS.

If my I-526 Petition is denied, will I receive my funds back?
Yes. If the petition was submitted in good faith, the full US$500,000 investment will be returned to the account from which the funds originated.

What is meant by the requirement that the foreign investor’s investment be “lawfully gained”?
Under USCIS regulations, the investor must demonstrate that their assets were gained in a lawful manner. Whether the funds come from salary, gift, investment, property sale, inheritance, or business ownership, the investor must prove to USCIS that the funds were obtained through lawful activities. The NYCRC will require each investor to reveal where and how they received the assets that are used for qualifying for the program. This may be accomplished through certificates by the investor’s licensed accountants, lawyers, court records, salary statements, tax statements, real estate documents, etc. Many people try to disclose the least possible information only to have the file returned with a request for further information. It is better to provide too much rather than too little information.

What are my risks?
There are specific risk factors for each LLC, which are included in the offering materials for each investment project. Risk factors differ for each LLC, but general risks include economic conditions, failure to meet job requirements, and denied immigration status under the USCIS EB-5 Program.