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How do I structure a business to get it approved as an EB-5 project?

I have a plan to open a business in CA. I also have money. What do I need to do to have my project approved as an EB-5 project to be able to get an EB-5 visa? How long does it take to get an EB-5 project approved?

Answers

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    Ed Beshara

    Immigration Attorney
    Answered on

    Without USCIS pre-approval, you can file your I-526 petition for approval. Then you can apply for conditional permanent residency. Please note, only EB-5 Regional Center projects can be pre-approved.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    A direct EB-5 project does not require any pre-approval. Just file the first I-526 immigrant petition, but make sure it has all of the required components, including an EB-5 compliant (Matter of Ho) business plan showing the need for ten full-time employees and the timeline for the new commercial enterprise to directly create those positions within the conditional period. An experienced EB-5 immigration attorney is vital to giving you the best chance for USCIS approval. If your project will rely on any indirect job creation, then you need to file for a regional center designation or you need to affiliate with an existing regional center with a valid USCIS designation.

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    Charles Foster

    Immigration Attorney
    Answered on

    To file a direct EB-5 investor petition on Form I-526, the investment must meet the requirements of any EB-5 project, including the $1 Million investment unless it is located in Targeted Economic Area (TEA) and you must also show that you have or are in the process of hiring 10 full-time U.S. workers. You would normally simply file your own individual EB-5 Investor Petition on Form I-526 and currently, it is taking more than a year to get an approval.

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    BoBi Ahn

    Immigration Attorney
    Answered on

    In order to meet the requirements for the EB-5 immigrant investor, the major requirements are that the requisite minimum capital ($500,000 for business located in TEA and $1Million if not located in TEA) has been invested in a new commercial enterprise with the creation of the minimum jobs (>10), and evidence of legal source of funds for the investment, etc. The business/project must have a solid business plan to show viability and economic feasibility for the projected job creation, etc.

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    If you plan to run your own business known as direct investment, you need: 1) investment of at least $500,000, if your business is located in a rural area or Employment Targeted Area (ETA), 2) must employ at least 10 people excluding relatives; and 3) be involved in day to day operations of the business. The issue of how long it takes to get a petition approved depends on the country of origin of the petitioner. Consult an EB-5 attorney as part of your early planning prior to proceeding further on your plan.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    Current processing times to get an approval are about 2 years. There are many steps but a few including sourcing the funds that you can show are legitimately earned, and then the critical element is proving your investment creates the necessary full-time jobs, which is either 10 directly, or 10 indirectly using expenditure model such as RIMS2.

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    Daniel A Zeft

    Immigration Attorney
    Answered on

    You are asking very general questions about a potential direct EB-5 case. You need to have a consultation appointment with an attorney who is experienced with EB-5 matters.

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    Michael A Harris, Esq

    Immigration Attorney
    Answered on

    More information obtained via the consultation process would be needed. For instance, what industry will your project be involved in? Will you be purchasing or leasing commercial real estate for your project? Will your project create at least 10 new full-time jobs after the approval of your initial EB-5 petition, or will your project be affiliated with a regional center so that you can benefit from indirect job creation? More questions need to be asked, so I suggest you contact a lawyer who specializes in EB-5 matters for direct or regional center projects.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    I suggest a consultation to discuss all of the requirements. You must be directing and developing the project (not a passive project) with a business plan to create 10 jobs within about 3 years. Typically set up as an LLC.

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    Belma Chinchoy

    Immigration Attorney
    Answered on

    You need an EB5 immigration attorney who will assemble a team of professionals to prepare your documents for submission to USCIS. Unlike regional center projects, direct EB5 projects cannot file "project only" petitions to USCIS so an investor''s I-526 petition must be prepared. It takes about 16-20 months for I-526 approval.

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    Julia Roussinova

    Immigration Attorney
    Answered on

    If you plan to file direct EB-5 case by investing lawful source of capital into your business, you should engage the services of an experienced EB-5 immigration attorney and he or she will help you prepare and file your case. Your business must create at least 10 full-time positions (at least 35 hours a week per position) to qualify you for EB-5 visa.

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