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What do I need to qualify my business for EB-5?

I have a business opportunity that will meet the 10 new job requirements, in an area that has the average national unemployment. I need a financial investor, what do I need to do to get my business qualified as EB-5 company, not an EB-5 regional center? Another question, how far can I go with my new company before I can submit for the EB-5 application, for example, can I start register the company, hire some employees and start business? Thanks in advance,

Answers

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    Reza Rahbaran

    Immigration Attorney
    Answered on

    Based on the facts set forth, you will need a financial partner who will invest $1 million in your project. The partner must be involved in the day-to-day operations of the business. You and your partner will need to prepare a comprehensive business plan that will show the creation of 10 jobs. This needs to be completed prior to filing the I-526 petition.

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    Shahzad Q Qadri

    RC Creator
    Answered on

    You need a financial partner that would be willing to invest and be involved in the day to day operations. You can establish the company and then seek the investor. I would advise you to seek Counsel on how to structure the deal.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    The new commercial enterprise (NCE) must be established after 11/29/1990 and the jobs must be created after the investor makes his or her investment. There must be a nexus or connection between the investment and the job creation. If the NCE qualifies as a "troubled business", an investor might get credit for saving and maintain the existing jobs (at least ten). In other words, if you establish the company and hire the employees before the investor comes into the picture, it may be difficult to show the causal connection between the investment and the creation of the requisite number of full-time jobs.

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    Lei Jiang

    Immigration Attorney
    Answered on

    You need an investor before you can file something. But before that, you need business plans and other documents to attract foreign investors. Also, if you are in an area that has the average national unemployment, the required investment fund will be $1million.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    There is nothing you need to do to pre-qualify the business. You just identify the investor and then the investor files an I-526 petition including information about their lawful source of funds, the commercial enterprise (your business), business plan for development and the creation of ten new jobs from the investment. The investment will be in the amount of $1 million or more unless the state designates the area where your business is located as a TEA. If the investor is looking to invest the lesser amount of $500,000 then you and your immigration attorney will work with the State to get a TEA designation if this is possible.

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    Ed Beshara

    Immigration Attorney
    Answered on

    You will need to retain an experienced EB-5 Attorney who can advise you on the legal and policy requirements to make your project EB-5 compliant. In fact, as long as you can show that the required personal founds of the investor is in the process of being invested or already has been invested and how the funds are going to be used through a comprehensive business plan to create 10 full time U.S. jobs, then the investor will be ready to file an investors I-526 petition.

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    Ying Lu

    Immigration Attorney
    Answered on

    First, you should decide if the proposed business location is within a TEA. If it just has an average national unemployment rate, it won''t qualify as a TEA. A TEA is an area that has 150% average national unemployment rate or a rural area. If the investment will be made in a TEA, the amount of investment can be reduced to $ 500,000; otherwise, the amount of investment will be at least $ 1 million. Second, the new commercial enterprise must be a for profit business entity. Third, for direct EB-5, unlike the regional center mode, you do not need to get pre-qualified as a direct EB-5 business. Fourth, if the business entity is set up before the investor makes the investment, any employment created before the EB-5 investment may not be counted toward the job numbers created by the investor as the investor is required to create 10 "new" jobs. Fifth, direct EB-5 is very complicated. The investor''s green card is directly linked with the operation of the business. You need an experienced attorney to give you advice and help you avoid mistakes. Feel free to contact my firm with any questions regarding direct EB-5.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    A US business looking to attract EB5 investors can be direct, accepting EB-5 investors directly and only counting direct jobs, or a Regional Center Project, associating with an established EB-5 regional center and able to count indirect and induced jobs. With a direct EB-5 project, you can start accepting EB-5 investors and filing I-526 petitions using your EB5-compliant project documentation. You can also associate with an existing EB-5 Regional Center, who can file an amendment to get your project pre-approved, or can start filing the I-526 petitions without pre-approval. As you can see, there are many options that can work for your project. Retaining qualified EB-5 counsel, like the attorneys at our law firm, can help your project with compliance and marketability.

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