How can I use a past investment for a current EB-5 application? - EB5Investors.com

How can I use a past investment for a current EB-5 application?

I had invested $1.1m in a hotel in crisis that still falls under TEA. It was provided to me by a bank in New York in 2019. By now, I believe it has supported 10 jobs. Can I, today in 2023, use the investment I already made back then to file for an EB-5 visa? How can I know or prove that my investment has supported 10 jobs? I have three FTE, four front desk and three housekeeping employees who work on an hourly basis. Would this count?

Answers

Bernard P Wolfsdorf

Bernard P Wolfsdorf

Immigration Attorneys
Answered on

The easiest way is if this business is qualified as a troubled business and you can show you saved the jobs, generally unless you planned to do EB-5, we find the type of tracing needed to show legitimate source of funds, and the lack of an EB-5 business plan make it very difficult to meet the USCIS standards for investing in an existing business, as opposed to a new commercial enterprise.

Lynne Feldman

Lynne Feldman

Immigration Attorneys
Answered on

Yes, prior investment may count. Jobs would need to be looked at to determine if full-time and all are authorized to work PRs, USCs or other authorized permanent status.

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