6 USCIS-PM G.6
Individuals and organizations may serve as direct or third-party promoters (including migration agents) of a regional center, any new commercial enterprise, an affiliated job-creating entity, or an issuer of securities intended to be offered to immigrant investors in connection with a particular capital investment project. This includes subagents or employees of entities with agreements in place to promote a regional center, any new commercial enterprise, an affiliated job-creating entity, or an issuer of securities intended to be offered to alien investors that are promoting the regional center, new commercial enterprise, affiliated job-creating entity, or issuer of securities to alien investors.[1]
Direct and third-party promoters must comply with any rules and standards prescribed by the Secretary of Homeland Security to oversee the promotion of any offering of securities related to the employment-based 5th preference (EB-5) program. These rules and standards include, but are not limited to, registration with USCIS and certification of compliance with statutory provisions relating to the bona fides of persons involved with the Regional Center Program.[2]
Each regional center, new commercial enterprise, and affiliated job creating entity must maintain a written agreement between or among such entities and each promoter operating on their behalf that outlines the rules and standards applicable to promoters under the EB-5 program.[3]
Promoters register with USCIS by filing Registration for Direct and Third-Party Promoters (Form I-956K) with USCIS, supported by the written agreement between or among the regional center, new commercial enterprise, or affiliated job-creating entity and each direct or third-party promoter operating on behalf of such entities. If the promoter is an organization, the promoter should also submit formation documents.
A regional center, new commercial enterprise, job-creating entity, or issuer of securities is not exempt from being considered a promoter to the extent such entities engage in promotional activities of EB-5-related securities. However, because regional centers, new commercial enterprises, and job-creating entities will already be captured on the Application for Regional Center Designation (Form I-956) and Application for Approval of an Investment in a Commercial Enterprise (Form I-956F), USCIS will not require that they separately register as a promoter using Form I-956K to the extent that they promote securities already covered by a related form.[4]
USCIS may suspend or permanently bar any promoter who violates applicable requirements.[5]
Additional information on the process for issuing sanctions appears in Chapter 8, Sanctions and Discretionary Determinations [6 USCIS-PM G.8].
[^ 1] See the instructions for Registration for Direct and Third-Party Promoters (Form I-956K).
[^ 2] See INA 203(b)(5)(K)(i). For the provisions discussing the bona fides of persons involved with the Regional Center Program, see INA 203(b)(5)(H)(i). For more information on the required attestation of the bona fides of those involved with a regional center, see Chapter 4, Regional Center Applications, Section B, Documentation and Evidence [6 USCIS-PM G.4(B)].
[^ 3] See INA 203(b)(5)(K)(iii).
[^ 4] See the instructions for Form I-956K.