How does direct EB-5 work with limited partnerships?

For a direct EB-5 case, there can be only one EB-5 investor in the new commercial enterprise pursuant to the EB-5 Reform and Integrity Act which went into effect in March 2022. Your situation may involve direct job creation. I would need more information to evaluate this issue. You need a consultation appointment with an immigration attorney who is experienced with EB-5 cases.

Under the new rules, only one investor is allowed per project. If you are seeking multiple investors, you need to affiliate with or set up a regional center.

If it is a private project and not a Regional Center, there can be only one investor per company.

"Direct EB-5" was a former category under the pre-2022 rules. The USCIS is still processing pending Direct EB-5 cases, but in 2022 it created a new category called "Standalone EB-5" which is similar in spirit and execution. Standalone EB-5 projects allow only one single EB-5 investor, and do not need to apply for Regional Center designation. If two or more investors seek EB-5 immigrant benefits, then the project must have Regional Center designation. Each regional center project may divide the job creation as it sees fit, as set by business contract. In the absence of a business contract, the USCIS has indicated it considers a "first in, first out" model to be valid. Limited Partnerships are permissible business structures for an EB-5 project, whether Standalone or Regional Center. However, the USCIS will expect to see the investor''s funds placed at risk and involved in job-creating activity. It is advisable to consult with experienced legal counsel for greater detail to your own specific business plans.

You can invest in an LP or any relevant corporate entity so long as that entity (and any 100% wholly owned subsidiaries) creates 10 full-time positions. If the project is not sponsored by a regional center (direct investment) then there can only be one EB-5 investor per new commercial enterprise.

Direct EB-5 investment following the RIA enactment is limited to one person. Multiple people cannot participate in a direct EB-5 project after the RIA enactment date.

After March 15, 2022, only one EB-5 investor can invest in a direct project. If there is more than one, it needs to be through a regional center. Yes, you can be an LP in a company. The company would need to create 10 full-time, permanent positions for employees at the company or a wholly owned subsidiary. A real estate company can be tricky, because most of the workers are often contractors and not permanently employed by your company. Additionally, all the non-EB-5 money invested into the company will have to be sourced. Your partners would have to open their books and show how they earned the money they invested. It may be possible to structure this investment in a way to solve this problem, but the first question - whether you will have 10 direct employees, is the critical one.