How can I change my status from L-1 to EB-5?

Question

A year and a half ago, I opened an LLC company with a relative. I invested $100k, the relative $400k. Six months ago I received an L-1 visa. Currently, the business is doing two times worse than in business terms. To extend the L-1 visa, I will have to explain why the business is going so badly. I had the idea of investing another $950k to change my status to EB-5. I will never be able to create more than seven jobs, but I can cover the minimum investment amount like this. Is it possible to do this? If not, what would be a better strategy?

Lynne Feldman · Answer

EB-1C would be a better option if you can salvage the L-1A petitioner.

Bernard P Wolfsdorf · Answer

It would be smarter to file in a regional center at $800,000 since that allows for indirect job creation. If you are in status, you can concurrently file an adjustment and not need to extend the L-1.

Belma Demirovic Chinchoy · Answer

Why would you pursue EB-5 if, as you say, you will not create more than 7 jobs? Speak with an attorney to find an option that might work.

Stephen Berman · Answer

If you cannot create the jobs, it will be denied. Perhaps you qualify for a student visa, or an H-1B. Otherwise, if you cannot show you are in a management or executive position, unfortunately, CIS will deny the L-1 extension.

Mitch Wexler · Answer

If you are not confident in being able to create at least 10 jobs, you should not consider using your business as an EB-5 investment vehicle. Perhaps consider a Regional Center EB-5 investment that is in a TEA for $800k and file adjustment of status concurrently which is likely to result in a work permit in about 3 months. This is a good hedge on not being able to extend your 1-year L-1 visa. L extensions are getting harder and harder.

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How can I change my status from L-1 to EB-5?

Answers

Lynne Feldman

Bernard P Wolfsdorf

Belma Demirovic Chinchoy

Stephen Berman

Mitch Wexler