What application must a business fill out to qualify for EB-5?

Any new commercial enterprise (business entity registered/formed after 11/26/1990) may qualify. It is recommended that you seek the advice of a qualified EB-5 immigration attorney. Foreign EB-5 investors must otherwise qualify to file their individual I-526 petitions based on their investment into your business entity. They will generally seek assistance from their individual EB-5 immigration attorney.

An experienced EB-5 immigration attorney will be able to advise you about the best practices for your EB-5 project. The type of required documentation or application forms will depend on whether the project will be a direct or regional center EB-5 project. An existing project may rent or enter into an agreement with an existing regional center.

At the present time, there is no application process for a business to qualify to receive EB-5 funding. It is the investor who files the petition for EB-5 classification and conditional lawful permanent resident status based upon a qualifying EB-5 investment. Any new commercial enterprise (business entity formed after 11/26/1990) would be eligible as long as the investor meets the other EB-5 requirements.

If you wish to participate in the EB-5 regional center process, you can file an application to become your own regional center, or associate with an existing regional center and apply for pre-approval of your project within their existing designation. Existing businesses have slightly different rules than brand new businesses. In any case, it is best to retain EB-5 immigration counsel to assist and represent you.

An existing business can apply for EB-5 funding. You would first contact a regional center in your area if you need to count indirect jobs. They would then direct you through the process.

It is the investor who files an I-526 if they want to invest in your business. They will need to demonstrate how the investment will create ten new jobs and be put into a new commercial enterprise. An existing business would work, but the details would need to be reviewed once you have an investor lined up.

The application process is more than just one form. It will depend on various factors such as the amount of capital needed by your business, the number of direct jobs that will be created, and whether an existing regional center would want to be affiliated with your project. Otherwise, the application process involves a multidisciplinary team that can include an immigration attorney, a securities contract attorney, a business plan writer, an economist and other expertise. I would recommend that you put together a verifiable set of pro formas for your project to get started, and then contact an attorney to see if the project could qualify under the EB-5 regional center program, or as a direct standalone project.