How can we use an existing business for our direct EB-5 investment? - EB5Investors.com
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How can we use an existing business for our direct EB-5 investment?

I am willing to buy an existing business worth $300k under the name of my wife. I will deposit the rest of the amount into the business account to meet the $1.1m criteria on day one. The business employs 12 people, me and my family not included. In this scenario, can we file our EB-5 I-526 on day one? My wife (F-2 visa) does not have a work permit. Can we get her an EAD through this? Do we need to spend the amount in the company account or leave it as is? If we need to spend it, where should we? Can we buy company assets using that?

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Answers

Lynne Feldman

Lynne Feldman

Find an EB-5 Visa Lawyer: Immigration Attorney
Answered on

This is probably doable if I understand your proposal, but I suggest a consult to go through all the questions and process.

Belma Demirovic Chinchoy

Belma Demirovic Chinchoy

Find an EB-5 Visa Lawyer: Immigration Attorney
Answered on

An existing business purchase can work for EB-5 with a few caveats. If the business was created prior to Nov 1990, the rules are many and strict. If the business was created after Nov 1990 and not a troubled business, you must adhere to ''new'' job creation rules (i.e., the current employees do not count). If it was a troubled business, job preservation may meet the job requirements. An investor/family can apply for an EAD if they submit a green card/residence application along with the Form I-526 petition.

Stephen Berman

Stephen Berman

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Answered on

How are you going to create 10 new jobs? And how are you investing $500,000 in a business if it is only worth $300,000?

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