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How is an EB-5 existing business different from a new commercial enterprise?

I have a partnership in a restaurant. My partner wants to transfer the business in my name, and I want to apply for an EB-5 green card using this business. Would it be considered an existing business, since I already have a partnership in it, or a new commercial enterprise? Are there different requirements for an existing business?

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    There are different job creation requirements for an existing business. An EB-5 attorney can assist you with the determination of an existing business and the overall EB-5 infrastructure.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    It is hard to make this type of investment work as the investment must create new jobs. Best to open a new restaurant.

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    Ian E Scott

    Immigration Attorney
    Answered on

    This is the USCIS definition for an EB-5 New Commercial Enterprise. *Established after Nov. 29, 1990, or *Established on or before Nov. 29, 1990, that is: 1. Purchased and the existing business is restructured or reorganized in such a way that a new commercial enterprise results, or 2. Expanded through the investment so that a 40-percent increase in the net worth or number of employees occurs.

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