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When can a house purchase qualify under the EB-5 program?

I have friend in New York who claims that he will be getting a green card within two years because he has purchased a house for around $500,000. I did some research and I found that I can apply for EB-5 while on H1-B and get a green card if I invest around $500,000 and create 10 full-time jobs. But what I found online seems to contradict what my friend told me. Is there any scenario where I could be eligible for EB-5 if I purchase a house?

Answers

  • Avatar

    Ed Beshara

    Immigration Attorney
    Answered on

    Purchasing a house will not grant you the green card. However, as an example, if you purchase a house for $2 million dollars, you can take out a mortgage for the investment amount and use these as your personal investment funds. Based upon the facts you present you can invest in an EB-5 regional center project.

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    Julia Roussinova

    Immigration Attorney
    Answered on

    Unfortunately, this is not true. A home purchase is a passive investment and does not qualify for the EB-5 green card.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    He may be using the house as collateral for a loan, which can be an acceptable source of funds, as long as all other conditions are met. Please consult with an immigration attorney, who will be able to use their experience and expertise in reviewing your specific circumstances and goals.

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    John J Downey

    Immigration Attorney
    Answered on

    Not really, this matter was discussed in the early stages of EB-5 and not allowed because of maintaining 10 jobs. It is not really an investment visa, but rather a job-creation visa.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    Most unlikely, as you have to show your investment will generate 10 new full-time jobs.

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    This is one of the biggest scams by real estate brokers. EB-5's benefit is for investors who invest in U.S. business/projects that will create 10+ full-time permanent jobs. It is not available to people who are merely investing in passive investments, such as buying a house, stocks and bonds, etc. Thus, you are correct and your friend is wrong. Also, as H1-B is a dual intent category visa, you definitely could apply for the EB-5 program while in H1-B status.

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    Vaughan de Kirby

    Immigration Attorney
    Answered on

    Your friend is incorrect - there is no program affording a green card for the purchase of real property.

  • Avatar

    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    The purchase of a home will not help qualify for a green card.

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