EB5 Visa Question

[Leo1967 5]

Hello everyone,

 

I am a business owner since 2010.  I have a family/business partner member on a E-2 Visa that has been renewed 3 times.  It is a restaurant and recently we purchased the building which puts us above the required EB-5 ($900,000) investment threshold.  My question is:  Can I, as her business partner, and family member, submit the application for a EB5 Green card without using a lawyer or USCIS accredited individual?  I successfully completed the E-2 visa process which was complex and required similar investment and other documents.   

[aaron2020 11,651]

You need a lawyer because it appears you don't know the basics of an EB-5.

The $900,000 amount is for a USCIS approved project.  Highly doubt that your restaurant is a USCIS approved project.  

[Leo1967 5]

Thank you for the feedback.  Do you mean that the Enterprise be located on a TEA  (Targeted Employment Area)?   What is a USCIS Approved Project?  That is nowhere mentioned in their instructions or information section of the EB-5 Visa Requirements.

 

In our case it is.  I checked this on their mapping tool

[Boiler 46,171]

How much is her investment?

 

Does it create 10 jobs

 

Is it in an area you can go for the $900k assuming her investment is over $900k

 

E2 is relatively easy compared to EB5 and the amount involved is a lot higher.

 

[aaron2020 11,651]

13 minutes ago, Leo1967 said:

Thank you for the feedback.  Do you mean that the Enterprise be located on a TEA  (Targeted Employment Area)?   What is a USCIS Approved Project?  That is nowhere mentioned in their instructions or information section of the EB-5 Visa Requirements.

 

In our case it is.  I checked this on their mapping tool

1.  You need a lawyer versed in EB-5.  

2.  Getting an EB-5 green card is a complex process.  

3.  You would need to invest the $900,000 in a USCIS approved project in a TEA.

4.  The goal of the EB-5 program is to bring in foreign capital into the US.  You've already invested in the building.  The money is already in the US.  No need to give you an EB-5 green card to entice you to bring foreign capital into the US since it's already here.

5.  You need a lawyer versed in EB-5.  This is definitely not DIY.

Edited May 13, 2021 by aaron2020

[Leo1967 5]

Hi Boiler,

 

The enterprise that we (as a family) built, includes a full service restaurant in NYC valued at $450,000;  the location of the building worth $800,000.  The initial funds to start the business came from Honduras in 2010.  Her share of the business and building is 33%

[Leo1967 5]

9 minutes ago, Boiler said:

How much is her investment?

 

Does it create 10 jobs

 

Is it in an area you can go for the $900k assuming her investment is over $900k

 

E2 is relatively easy compared to EB5 and the amount involved is a lot higher.

 

We already hire 10 employees

[Boiler 46,171]

I can see numerous issues but she is not even close to meeting the minimum amount.

1 minute ago, Leo1967 said:

We already hire 10 employees

She needs to create employment.

[Leo1967 5]

5 minutes ago, aaron2020 said:

1.  You need a lawyer versed in EB-5.  

2.  Getting an EB-5 green card is a complex process.  

3.  You would need to invest the $900,000 in a USCIS approved project in a TEA.

4.  The goal of the EB-5 program is to bring in foreign capital into the US.  You've already invested in the building.  The money is already in the US.  No need to give you an EB-5 green card to entice you to bring foreign capital into the US since it's already here.

5.  You need a lawyer versed in EB-5.  This is definitely not DIY.

Thanks!

 

THIS IS WHAT THE APPLICATION SAYS:

 

You may file this petition for yourself if you have invested or are actively in the process of investing the required investment amount in a new commercial enterprise (NCE):

1. In which you will engage in a managerial capacity through day-to-day managerial control or policy formulation;

2. Which will benefit the U.S. economy; and

3. Which will create full-time employment in the United States for at least 10 U.S. citizens, lawful permanent residents, or other immigrants lawfully authorized to be employed in the United States, other than yourself, your spouse, or your sons or daughters.

 

An NCE may be established by:

1. The formation of a business after November 29, 1990;

2. The purchase of a business formed on or before November 29, 1990, and simultaneous or subsequent restructuring or reorganization resulting in an NCE; or

3. The expansion of a business formed on or before November 29, 1990, through investment of the amount required so that a substantial change (at least 40 percent increase) in either the net worth or number of employees results.

The amount of investment required is set by regulation. You may obtain additional information from our website at www.uscis.gov, or a U.S. Embassy or U.S. Consulat

[Boiler 46,171]

Just now, Leo1967 said:

Thanks!

 

THIS IS WHAT THE APPLICATION SAYS:

 

You may file this petition for yourself if you have invested or are actively in the process of investing the required investment amount in a new commercial enterprise (NCE):

1. In which you will engage in a managerial capacity through day-to-day managerial control or policy formulation;

2. Which will benefit the U.S. economy; and

3. Which will create full-time employment in the United States for at least 10 U.S. citizens, lawful permanent residents, or other immigrants lawfully authorized to be employed in the United States, other than yourself, your spouse, or your sons or daughters.

 

An NCE may be established by:

1. The formation of a business after November 29, 1990;

2. The purchase of a business formed on or before November 29, 1990, and simultaneous or subsequent restructuring or reorganization resulting in an NCE; or

3. The expansion of a business formed on or before November 29, 1990, through investment of the amount required so that a substantial change (at least 40 percent increase) in either the net worth or number of employees results.

The amount of investment required is set by regulation. You may obtain additional information from our website at www.uscis.gov, or a U.S. Embassy or U.S. Consulat

She is not meeting the amount of investment and she I assume will not create 10 new jobs.

[Leo1967 5]

1 minute ago, Boiler said:

She is not meeting the amount of investment and she I assume will not create 10 new jobs.

I see.  Thank for the answers! 

[aaron2020 11,651]

19 minutes ago, Leo1967 said:

Thanks!

 

THIS IS WHAT THE APPLICATION SAYS:

 

You may file this petition for yourself if you have invested or are actively in the process of investing the required investment amount in a new commercial enterprise (NCE):

1. In which you will engage in a managerial capacity through day-to-day managerial control or policy formulation;

2. Which will benefit the U.S. economy; and

3. Which will create full-time employment in the United States for at least 10 U.S. citizens, lawful permanent residents, or other immigrants lawfully authorized to be employed in the United States, other than yourself, your spouse, or your sons or daughters.

 

An NCE may be established by:

1. The formation of a business after November 29, 1990;

2. The purchase of a business formed on or before November 29, 1990, and simultaneous or subsequent restructuring or reorganization resulting in an NCE; or

3. The expansion of a business formed on or before November 29, 1990, through investment of the amount required so that a substantial change (at least 40 percent increase) in either the net worth or number of employees results.

The amount of investment required is set by regulation. You may obtain additional information from our website at www.uscis.gov, or a U.S. Embassy or U.S. Consulat

Have a consultation with a qualified EB-5 lawyer if you have $900,000 abroad that you want to invest in the US.  You have a poor understanding of what is required to get an EB-5 green card. 

[SteveInBostonI130 3,487]

Also, from my understanding, the EB-5 requires the full amount ($900k) of liquid funds to be invested.  Property value does not count unless it shows that $900k was invested or will be invested to purchase that property, along with other qualifying business expenses.

[jostermacedo 54]

On 5/13/2021 at 7:57 PM, Leo1967 said:

Thanks!

 

THIS IS WHAT THE APPLICATION SAYS:

 

You may file this petition for yourself if you have invested or are actively in the process of investing the required investment amount in a new commercial enterprise (NCE):

1. In which you will engage in a managerial capacity through day-to-day managerial control or policy formulation;

2. Which will benefit the U.S. economy; and

3. Which will create full-time employment in the United States for at least 10 U.S. citizens, lawful permanent residents, or other immigrants lawfully authorized to be employed in the United States, other than yourself, your spouse, or your sons or daughters.

 

An NCE may be established by:

1. The formation of a business after November 29, 1990;

2. The purchase of a business formed on or before November 29, 1990, and simultaneous or subsequent restructuring or reorganization resulting in an NCE; or

3. The expansion of a business formed on or before November 29, 1990, through investment of the amount required so that a substantial change (at least 40 percent increase) in either the net worth or number of employees results.

The amount of investment required is set by regulation. You may obtain additional information from our website at www.uscis.gov, or a U.S. Embassy or U.S. Consulat

Having gone through the EB-5 myself, I really suggest you contact a qualified EB-5 lawyer. The first part of the process, the I-526 petition, is not even the biggest hurdle, but the I-829 you have to file later to prove the investment and the creation of jobs. As others have said, the normal investment requirement is not $900K, but $1.8MM. $900K is for TEAs. Also, make sure when you talk with the lawyer, check if an investment made years ago qualifies for this visa. I don't believe it does. If you go forward with this plan, make sure you keep records of all expenses, the most important part being payroll records. To give you an idea, my I-829 had thousands of pages.

 

Final comment: EB-5 petition approval is taking years now. You'll need to be patient.

Edited May 16, 2021 by jostermacedo

[igoyougoduke 1,676]

On 5/13/2021 at 3:36 PM, Leo1967 said:

Hello everyone,

 

I am a business owner since 2010.  I have a family/business partner member on a E-2 Visa that has been renewed 3 times.  It is a restaurant and recently we purchased the building which puts us above the required EB-5 ($900,000) investment threshold.  My question is:  Can I, as her business partner, and family member, submit the application for a EB5 Green card without using a lawyer or USCIS accredited individual?  I successfully completed the E-2 visa process which was complex and required similar investment and other documents.   

there are two requirements that you need to fulfill for EB5

 

1) Create 10  new permanent jobs after eb5 invesmtnet is invested into the business. . This means jobs must be sustained for 2 years when the petitioner receives their green card to + 2 years. your cannot use e-2 visa jobs as they are created before you start Eb5. Think of it as a new business with a new requirement. Considering you want to bridge e-2 to eb5 is going to be difficult cause E-2 and Eb-5 have different requirements. You need a professional help here cause you cannot double dip the same jobs for e-2 visa and eb-5 visa requirements.

 

2) invest 900k or 1.8 million into a business depending on if its TEA ( Targeted Employment area ) or Non TEA .

 

 

You can file I-526 by yourself if you are well versed with the law. Your petition would be considered as Direct investment rather than going through a Regional center which is most often used way for Eb5. once I-526 is approved you can file I-485 for adjustment of status or consular processing to get your green card.