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How would a startup business qualify for an EB-5 visa?

I'm in the United States on an H-1B work visa and in the process of creating a start-up company. Can I receive seed funding from VCs or angel investors, start the company, and seek an EB-5 visa with that investment? I don't have direct money to invest, but I'd like to rely upon external investment for my company and prove through a business plan that I'll have the required number of jobs created. Are there any legal limitations on doing this for an EB-5 visa?

Answers

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    Ed Beshara

    Immigration Attorney
    Answered on

    An EB-5 investment is based upon an investment of personal funds. The personal funds can be derived from a loan or a gift under certain circumstances.

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    John J Downey

    Immigration Attorney
    Answered on

    It really has to be your investment at risk. You could receive funding in the form of a loan that you are personally responsible for and then you could add investors' funds to enhance the chance of success.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    EB-5 projects can use a mix of EB-5 and non-EB-5 funds. The important part is that the EB-5 investment must result in the creation of 10 full-time jobs. In addition, the EB-5 funding must come from a personal investment by the applicant. A secured loan may count as an acceptable source of funds, but a third party investing on your behalf would not be accepted.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    This is going to be difficult because you need to invest your own money, not raise funds for investment. You may create the jobs, but you're not investing your own money.

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