I am planning to apply for direct EB-5 by investing into my existing company. If I convert the already existing part time jobs to full time jobs, will this count towards the creation of new full time jobs?
There are multiple considerations here. Your lawful EB-5 capital must be used for job creation of at least 10 full time positions. If jobs are preexisting before investment, you will have to demonstrate new job creation and expansion of business unless it is a troubled business that allows saving jobs if it qualifies under the regulations.
If this is an existing company, you will have some problems. You have to show how your investment of capital is creating these additional jobs. If it is a troubled business with losses, then you may be able to qualify if you can prove you have saved jobs. But for an existing business, you also have to show the creating of a "new commercial enterprise." There are three possibilities for "establishing a new commercial enterprise." First, you can create an original business, or if you purchase an existing business and "simultaneous or subsequent restructuring or reorganization such that a commercial enterprise results." And finally, you can "Expand an existing business such that a 40% increase either in the net worth or the number of employees results." It is not as simple as promoting a few part-time workers.
This could work unless they were positions in place before you invested.
You need to create ten direct jobs as a result of the investment.
I would be wary of that but I may just be conservative here. I would try to expand the business to create new full time positions.
