I am already operating a business in the U.S. on an E-2 visa and I have reinvested all earnings in my current business. Can I count that investment toward an EB-5 application? I have four employees now. Do I need to create six more jobs to qualify for a green card, or do I need to create an additional 10 new jobs?
Yes, you can build up an E-2 to the EB-5 level. However, it cannot be like you describe it as if it is by simply adding just six employees or adding a few thousands of dollars. Make sure you can fulfill the EB-5 requirements in terms of total investment, jobs, the proper classification of the business area either as an urban or rural area, just to name a few. A proper business plan should be the starting point to successfully carry out your plan out. Advisably, consult an EB-5 attorney to put together your plan.
Provided that you have properly reinvested the earnings for EB-5 purposes (meaning you actually paid any profits/distributions to yourself, paid taxes on it, and then reinvested it), that investment amount may qualify. As for job count, depends on who is working for your business, but remember that although you and your immediate family may work for the business under E-2, you won't count towards the 10-job requirement for EB-5. I would not be surprised if you have to hire 10 new workers.
Yes, you can. We do this all the time for our clients who have E visas.
It is definitely possible to qualify an E-2 investment for EB-5. Please keep in mind each program has a different set of requirements. First, you need to determine if the enterprise is principally doing business in the targeted employment area, so that the $500,000 investment is sufficient. Otherwise, the investment must be $1 million under current law. Your investment must also create at least 10 full-time positions (at least 35 hours a week). You cannot use retained earnings in the business unless you pay them out to yourself, such as dividends or distribution, pay income tax on it and then use it as part of EB-5 funds. A comprehensive EB-5-compliant business plan is also required for direct EB-5 cases. Careful planning is necessary to convert E-2 to EB-5. Consult an experienced EB-5 immigration attorney for further details.
You cannot use reinvested capital as part of your EB-5 application. Either bake out $500,000 and invest in a regional center project or start a new business.
Yes, it is possible. Among other requirements for the EB-5 processing, you will need to show that you have created at least 10 jobs based on the requisite minimum investment, so no need to created additional 10 new/additional jobs. If you have already created four, you will need six more jobs created as a minimum.
You will need to prepare the sources of the funds report to submit with the EB-5. You can use your existing business and employees. When your I-526 is approved, then you will need to add six more employees to the four employees you already have. There are many more steps you need to take with your attorney to prepare for this transition.
Yes, you can use an investment that you made in conjunction with obtaining an E-2 non-immigrant treaty investor visa for purposes of establishing that you've made a qualified EB-5 compliant investment, provided that you establish that you transferred into the business at least $500,000 (assuming it's located in a targeted employment area). You would need to create a total of 10 jobs for U.S. workers, and you could account for the four current employees.
Yes! That's the true beauty of being an E-2 investor. You get to utilize the E-2 investment toward the EB-5 and stay in the U.S. while your I-526 is pending. You do need an EB-5 attorney with expertise in direct EB-5s.
Yes, you can count your current E-2 investment toward the amount necessary for the EB-5 but you need to be very careful. First and foremost, you need to up your investment to $500,000 if you are operating in a TEA and $1 million if you are operating in an urban area. You most likely need to write an EB-5-compliant Matter of Ho business plan. The source of funds scrutiny in EB-5 is much more than E-2. You will therefore need to hire a competent immigration attorney who has expertise in EB-5 and can guide you through the process.
If you reinvested your personal income (and not earning retained by the business) then you may be able to qualify for EB-5 if you have personally invested $500,000 or more in the business. If you created four employees as a result of your E-2 investment, then you will need at least six more as you outlined.
Yes, you can file an EB-5 application for an E-2 business as long the required $500,000 (or $1 million, depending on the location) investment came from your personal assets. Re-investing company-retained earnings without paying personal income taxes on the funds would not qualify.
Since an E-2 requires a personal investment like an EB-5 does, yes, it should also count toward a future EB-5 filing, and yes, full-time positions created for U.S. citizens or permanent residents for the E-2 should also count. There are some specific differences that need to be addressed, so please contact an immigration attorney like myself to help!
Yes, you can use the funds. No, you cannot use already created jobs.
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