We are creating our own EB5 project, and it''s an office building construction. However, it requires only one year for construction. So we are wondering whether it will qualify for the EB5 standards?
The project construction does not need to last two years unless you are relying on the construction jobs. The two year requirement is set forth for direct investors who are required to create direct jobs. If your project is under a regional center, the investor may use direct, indirect, and induced jobs created by the project.
If you are relying solely on the construction workers for your job creation, then it would not qualify. EB-5 requires that the project or business create at least 10 full time permanent jobs which means the job has to be in existence for at least 2 years.
The project does not have to last two years. The two year requirement is if you want to use the direct construction jobs for the purposes of the investors.
If it is a direct EB-5 project, all construction jobs must last more than 2 years in order to be considered as qualified new jobs. Regional center projects will be a different story.
If you are relying on construction jobs, they must last at least two years. It does not appear that you are investing in a regional center, which would allow counting of indirect jobs, including construction jobs, depending upon the econometric model used. You should consult with an experienced EB-5 immigration attorney to advise on the specific job creation requirements that apply to your proposed project.
If your project is not affiliated with an USCIS approved regional center under the EB-5 Pilot Program, indirect construction jobs cannot be counted for the EB-5 investors regardless of the time period of its construction. If is difficult to answer your questions without detailed facts.
With the assistance of an experienced EB-5 attorney and economist the construction does not need to last for two years to show the required job creation.
No. Other people have tried and failed in similar projects. If you have any questions or concerns about this matter, please feel free to contact me.
The job creation is for Permanent, full-time jobs. USCIS has deemed any construction jobs that last more than 2 years qualify for this. However, anything less than 2 years is considered not permanent job creation.
That should be fine. It is the 10 full-time permanent jobs that have to last for 2 years.
Generally, to qualify as permanent full time jobs, they must exist for two years. By retaining qualified EB5 counsel, like the attorneys at our law firm, we can coordinate with a qualified EB5 economist to develop an economic report and job creation estimates that should be approvable by USCIS.
No, construction can last as long as reasonably necessary. The advantage of a >2 year construction time frame is that you will be able to count direct, indirect and induced construction jobs.
The investing entity has to be employing the (minimum of) 10 new employees until at least the second petition (to make your residence permanent) is submitted, but preferably, until your residence is actually granted. Thus, the deal should be structured in such a way that the construction "phase" evolves into something else. Hope this helps.
The direct jobs created as a result of a project whose full time workers are employed less than 2 years will not be counted. If you are seeking to have your investors file under a regional center, then you will only be able to count the indirect/induced jobs as a result of the expenditures and potential revenues.
The Project needs to employ 10 full time workers for at 5 years (enough time to get past the I-526 petition and I-829 application process).
