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Question:

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What happens if $1mm is used to create 10 jobs, but then the company, say a software startup, fails before the 2 yr period and all the money is lost? Does that impact the granting of the I-829? Or what happens if 10 jobs are created in a short term project, say a movie, the jobs end in, say, 12 months, but the movie goes on to be successful and returns the investor's money. Does that impact the granting of the I-829?

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Answers:

December 13, 2012 11:57 Clem Turner

Generally speaking, in order for the conditions on the green card provided during the I-526 to be removed at the I-829 stage, the project must have created ten jobs per investor (or be reasonably likely to create ten jobs per investor). Thus, if the jobs do not exist when the I-829 comes up for review, the investor will lose his conditional green card.

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April 19, 2013 10:27 Reza Rahbaran

The granting of the I-829 is subject to several conditions including the usage of the entire investment capital and the creation of 10 jobs. The 10 full time jobs need to be in existance at the time of filing the I-829 Petition. If the conditions are met, you can still get your I-529 Petition approved. More specific information can be given on a case by case basis.

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