Can EB-5 or E-2 business apply for the COVID-19 relief program? - EB5Investors.com

Can EB-5 or E-2 business apply for the COVID-19 relief program?

With all these different COVID-19 federal and state relief programs, is there a risk to the EB-5 applicants if the EB-5 business obtain such funds? I have my conditional green card and run my own business created under the EB-5 visa. I wonder if I obtain COVID-19 relief funding it would impact my EB-5 evaluation later. The reason for asking is that some green card holders are negatively impacted if they have obtained federal benefits like Medicaid.

Answers

Bernard P Wolfsdorf

Bernard P Wolfsdorf

Immigration Attorneys
Answered on

If you already have a green card then the public charge should not be an issue. This can come up if you apply for naturalization but permanent residents and it appears many E-2 business owners will be able to apply for SBA loans.

A Olusanjo Omoniyi

A Olusanjo Omoniyi

Immigration Attorneys
Answered on

The debate remains unsettled on this issue. There is nothing in the COVID-19 relief law/programs, the Economic Injury Disaster Loans (EIDLs) under the CARES Act, that businesses founded by foreign investors such as EB-5 and E-2 cannot apply for any part of the relief fund. Feel free to apply and be ready to provide all required documentation. According to the law, the application filing deadlines for the various loans vary from between June 30, 2020, and December 31, 2020. So, take notice of what you need to apply for in any of the programs. Also, the law is a legal maze, depending on reliefs you are applying for you may need an attorney or regulatory specialist based on your state of residence or jurisdiction as states also have their own regulations. The U.S. Small Business Administration(SBA) manages a lot of the loans and it is required to pass regulations to implement the Act, advisably, keep keen interest on what the SBA is doing.

Salvatore Picataggio

Salvatore Picataggio

Immigration Attorneys
Answered on

I had not seen that the public charge applied to the removal of conditions like it does for initial green card applicants. Benefits the business obtains shouldn''t affect the individual''s public charge-ness either. As for a business obtaining relief and job creation, the way I read the policy is that the creation of positions is the key. So if the positions exist, even if you replace the humans occupying those positions, that should be OK. Obviously a business that is failing and cannot support their positions is going to have trouble with the I-829, but we''re talking about a global pandemic here, not a normal business problem.

Lynne Feldman

Lynne Feldman

Immigration Attorneys
Answered on

If a green card holder I believe you are eligible and would not be considered a public charge for citizenship purposes.

Fredrick W Voigtmann

Fredrick W Voigtmann

Immigration Attorneys
Answered on

As long as you sustain your EB-5 investment and the new commercial enterprise creates the required number of jobs within the conditional period, or within a reasonable period of time thereafter, it should not matter if the company receives assistance from federal or state programs. Also, green card holders are not negatively impacted by receiving aid unless they are seeking admission to the United States after an extended absence for more than 180 days. The public charge ground relates to admissibility, not to removability or to green card holders reenter the United States after short trips abroad.

Dale Schwartz

Dale Schwartz

Immigration Attorneys
Answered on

You should ask your own lawyer and accountant this.

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