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How can I change from E-2 classification to an EB-5 visa?

I have invested $800,000 in a rural area and got my E-2 approved. I acquired the business through my corporation. There were four existing jobs, which I am continuing. Can I show the same capital for an EB-5 investment? How could I meet the ten job minimum requirement for EB-5? Could I create six more jobs, and show the total number of jobs as six new jobs, plus four already existing jobs?

Answers

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    Julia Roussinova

    Immigration Attorney
    Answered on

    If the four jobs were preexisting, you may not generally count them for EB-5 purposes unless it is a troubled business exception, and need to create 10 full-time jobs. Rural area should qualify for reduced investment. More information is needed. Please contact an experienced EB-5 attorney.

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    John J Downey

    Immigration Attorney
    Answered on

    You really need to consult with an attorney with EB-5 expertise. It is possible to move to EB-5, but unless you qualify under the "troubled business," section I believe you will need to create 10 new positions. Best to get the correct info now before you put out any additional funds.

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    Ed Beshara

    Immigration Attorney
    Answered on

    The EB-5 regulations require you to personally invest your personal funds into a U.S. corporation. A corporation cannot use its funds to invest in a U.S. corporation to count as a personal investment for EB-5 purposes. The personal EB-5 investment has to be made first, then the required ten direct full time jobs have to be created.

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    Oliver Huiyue Qiu

    Immigration Attorney
    Answered on

    There are multiple hoops that you need to jump through before converting an E-2 visa into an EB-5 green card. First, you talked about acquiring an existing business. Under EB-5, the business has to be incorporated after Nov. 29, 1990. In addition, in order to count the existing four jobs towards EB-5, the business you took over has to show loss at a certain degree to qualify as a distressed or a troubled business. Lastly, EB-5 has a heightened standard on establishing lawful source of investment. Overall, it is possible, but careful planning is the key to success.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    No. You do not get credit for creating the four existing jobs if they were there prior to your qualifying investment. The new commercial enterprise must create 10 full-time jobs for qualifying U.S. workers. You can use the capital you invested for your E-2, but you must meet the job creation requirement and prove that the new commercial enterprise is principally doing business in a targeted employment area (TEA).

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    James Cai

    Immigration Attorney
    Answered on

    Yes, you can count $800,000 towards $1 million capital. However, you need to hire 10 new employees. Four existing does not count.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    We handled a very similar scenario. As long as the four jobs were created with your $800,000, the EB-5 should work. If created before you got there, then a more detailed analysis would be needed.

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    Olga Karasik

    Immigration Attorney
    Answered on

    Yes, you can show your capital investment and create an additional six jobs and get EB-5 based on your investment. You need a good business plan to show how you will create these six jobs.

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    Stephen Berman

    Immigration Attorney
    Answered on

    It needs to be $1 million, and 10 new jobs, not existing jobs.

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