Can I move a pre-existing company to the United States for EB-5?
I have had my B1/B2 visa for 10 years. I am managing director and CEO of my own company, ATP PATHCARE LAB PVT LTD, in India, dealing in specialized diagnostic testing. I would like to apply for the EB-5 and register my company in United States. I have one spouse and 2 children younger than 12 years old. How can I begin the EB-5 process and how much does the whole process cost? Thank you.
You should consult an EB-5 attorney. The attorney will explain the EB-5 process and associated costs. As far as your wife and children, they will be included in the I-526 petition as derivative beneficiaries and receive the same benefits as the foreign investor.
Certainly provided the investment meets theEB5 requirements. The cost will vary depending on all that has to be done. Your spouse and minor children will accompany you as dependents. I am happy to discuss the nuances of your case.
The answer is yes, if you invest $1,000,000 or more in the United States (in some areas $500,000), and plan to employ 10 employees or more, you should arrange a legal consultation to discuss further-including a possible second option where you would be managing your business in the U.S. without having to invest $1,000,000. As long as you keep part of your business operations in India (and employees for a minimum of 3 years) and start operations from a branch office in the United States. Legal fees for the EB-5 are $12,000 to $15,000 and for the second option, $10,000.
If you make a qualifying investment of lawfully-obtained capital in a U.S. commercial enterprise and create 10 new jobs for U.S. workers within two years, then you would be eligible to apply. The EB-5 category is fairly complex and you should have experienced EB-5 immigration counsel throughout the entire process. The legal fees are negotiable between you and your attorney.
You could if 10 direct jobs will be created. But, the L1 classification may be a better option and allows you to file for residency after a year of the US company operating assuming it has employees and can support a manager that isn''t first line. I''d recommend your looking into that.
The EB-5 does not allow you to move a pre-existing company to the U.S. If you want to invest in the EB-5 program, you can do so either through a regional center or via a direct investment. The initial funds will vary between either $500,000 or $1,000,000 based on whether you choose a TEA area project within a regional center, or if you prefer to opt for a direct investment. Total costs would depend on the specifics of your case as attorney costs differ; regional center administrative fees differ and business plan fees differ. If you want to start a US subsidiary of your Indian Company there is a way that you can do, but that is not the EB-5 Visa, and if your ultimate goal is to acquire a "Green Card" at the earliest possible then the L Visa would not be ideal, but it would be less expensive, and if you want to work/manage your own business, would give you the ability to do so. Please do not hesitate to contact me if I can provide further information or clarification of the above.
A new enterprise could be a new branch of an existing company. However, if you wanted to do that, you should look into the L-1 visa option, which I believe would be more suited to your needs. Please feel free to contact me directly if you would like further information.
To apply for EB-5 immigration benefits,Title 8 Code of Federal Regulations Section 204.6 (h ) states that the establishment of a new commercial enterprise may consist of the creation of an original business formed after November 29, 1990, as opposed to a pre-existing business; OR the purchase of an existing business and simultaneous or subsequent restructuring or reorganization such that a new commercial enterprise results; OR the expansion of an existing business through the investment of the required amount, so that a substantial change in the net worth or number of employees results from the investment of capital. Substantial change means a 40 percent increase either in the net worth, or in the number of employees, so that the new net worth, or number of employees amounts to at least 140 percent of the pre-expansion net worth or number of employees. In light of the above governing statute, it is doubtful that you can move your foreign company to the U.S.. However, you can establish a new commercial entity in the U.S. using the same or modified business model that you have been using for the Indian company and create not less than 10 full time jobs. You should be able to apply for EB-5 immigration benefits by filing a traditional stand alone I-526 petition (not affiliated with any regional center). Depending on the location of your U.S. company, you will need to invest 1 million capital unless your business location of choice is in a targeted employment area. In that case, you will only need to invest the reduced amount of $500,000 capital. The process will include initial setting up your U.S. company and drafting corporate or LLC documents, business plan, feasibility studies, and five year financial projections and immigration attorney fees and USCIS filing fees (initial filing fee at $1,500 USD). These costs vary depending on the areas and states where you retain your corporate and immigration attorneys. Anywhere around $40,000-$50,000 should be expected.
I assume you mean incorporate a new branch here and grow it and the answer is yes. The new US division will be a new co. You will need to form a new co. and you will have to invest either $500,000 or $1 million depending if you are investing in a rural area or targeted employment area (area with high unemployment), if the investment is in a high unemployment area or rural area, it only needs to be $500,000. You would have to actually deploy the capital- it can''t just be in a bank account. For example, you could acquire office space (but not space previously used as a lab), and you would have to employ 10 US workers who are not related to yourself full-time. The visa petition would get filed in the US and once approved you would process your immigrant visa at am American Consulate in India. The whole process realistically takes about 24 months. In that time, you can continue to visit the US, but must keep your visits commensurate with a visitor (not live here).
The investor can form a new commercial enterprise in the U. S. The investor can invest the required personal funds in this new business and through a comprehensive business plan and can show how the investment will create 10 direct full time jobs. To start the process, you can consult with our law firm to discuss timelines and fees and costs for achieving your EB-5 goals.
If you want to start your own company and do a direct investment, then you need to consult with an attorney to set up the business in the U.S. If you are considering an investment through a regional center project, then the first thing you need to do is your due diligence and find a project you are comfortable with to make the investment.
Yes, but you will still need to invest USD $500,000 or $1 million (depending on the location in a targeted employment area or not) into the business, create 10 full time permanent jobs, and otherwise comply with EB5 rules, regulations, and procedures to obtain an approval of the I-526 petition and move forward with the Immigrant Visa. Fortunately, your entire family would also be included in your application for the Immigrant Visa as well. We recommend retaining experienced US Immigration and EB5 counsel, like our law firm, to begin the process. Costs would include fees paid to the professionals necessary to establish an approvable EB5 infrastructure and prepare necessary information and documentation (Immigration counsel, economist, etc.), filing fees paid to the USCIS, and other necessary costs.
Generally you will need to establish a new business enterprise. If you work with an experienced attorney and business plan developer you could reach your goal with a new enterprise engaged in essentially the same business.