I am seeking funding for a 15 plex that I may start building this next summer. Is this what the EB-5 program is for? How does the process work? Would it be feasible to get EB-5 funding by July of this year?
Answers
Echo Meisheng King
Find an EB-5 Visa Lawyer: Immigration AttorneyAny for-profit business can be structured as an EB-5 project, as long as the job creation requirement is met. The recruitment of investors for funding is essential to the project; moreover, you will need to demonstrate that each investor has the ability to create 10 qualifying jobs by investing in your project. Consulting an experienced EB-5 immigration attorney to guide you through the process is highly recommended.
Salvatore Picataggio
Find an EB-5 Visa Lawyer: Immigration AttorneyJuly would be a very aggressive timeline, because to accept any foreign investor, you need an EB-5 immigration attorney to assist you with the project's compliance with the EB-5 rules and regulations, and to lead a team of professionals to create required documents like a business plan, economic report, and securities offering documents. Finding investors will also take time, as well as affiliating with a regional center if that would be beneficial to your project. This process can take more than six months.
Julia Roussinova
Find an EB-5 Visa Lawyer: Immigration AttorneyBorrowing and repayment of a loan with EB-5 funds is generally permitted if disclosed in the offering documents.
John J Downey
Find an EB-5 Visa Lawyer: Immigration AttorneyEB-5 can fund building projects. Obtaining funding by July is possible, but not probable unless you already have investors lined up. You would have to go to foreign brokers to find investors and since there are hundreds of projects out there you would need someone with expertise in the area to help you with your presentation.
Ian E Scott
Find an EB-5 Visa Lawyer: Immigration AttorneyYou can pool funds as a direct investment EB-5 and get several people to invest. For each $500,000 or $1 million investment (depending on where it is located) the business would have to create 10 full-time jobs. If it is something you are serious about, you should seek counsel, but what you are suggesting is possible if you find the investors.
Bernard P Wolfsdorf
Find an EB-5 Visa Lawyer: Immigration AttorneyJuly is a tough deadline, but you can borrow money and as long as it is anticipated that the EB-5 money is going to be used to pay back the loan, this is permissible.
DISCLAIMER: the information found on this website is intended to be general information; it is not legal or financial advice. Specific legal or financial advice can only be given by a licensed professional with full knowledge of all the facts and circumstances of your particular situation. You should seek consultation with legal, immigration, and financial experts prior to participating in the EB-5 program. Posting a question on this website does not create an attorney-client relationship. All questions you post will be available to the public: do not include confidential information in your question.