+1-800-997-1228

Free Evaluation

Please click here to get started
Questions and Answers > Other Eb-5 Questions

How can I use my previous business to qualify for EB-5?

I invested $1 million three years ago to open a business. The business is going well. Can I apply for EB-5 now based the investment I made? I have the source of funds and investment details well documented. If not, how can I use this existing business to qualify for an EB-5 visa?

Click here for a Free Evaluation

Answers

  • Avatar

    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    It is feasible to use an existing business for an EB-5 investment petition, although it tends to be tough. This type of situation will result in what is known as a direct investment type of EB-5 investment, which requires that as the owner of the business, you have to manage the day-to-day operations of the business. However, in order to make a successful EB-5 investment, you have to reorganize the business in a way that it will meet all the EB-5 requirements such as, providing at least 10 jobs and documenting that the source of your funds is legal, just to name a few. Advisably, consult an EB-5 attorney in putting a Matter of Ho business plan together and organizing the business for EB-5 investment.

  • Avatar

    Daniel A Zeft

    Immigration Attorney
    Answered on

    Yes, you may be able to proceed with an EB-5 case based on the investment that you made three years ago. You need a consultation appointment with an immigration attorney.

  • Avatar

    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    If you invested personal funds there may be an option. The key is tracing that investment and showing how it has or will create 10 jobs. You may have a case here.

  • Avatar

    Julia Roussinova

    Immigration Attorney
    Answered on

    You may be well qualified to use this as a direct EB-5 investment if you meet all EB-5 requirements and if you did not work for this business or actively managed it without employment authorization.

  • Avatar

    Belma Demirovic Chinchoy

    Immigration Attorney
    Answered on

    There is a good chance you can use this business/investment for EB-5. You need to consult with an attorney who can evaluate you and your business qualification for EB-5 based on additional information.

  • Avatar

    Ying Lu

    Immigration Attorney
    Answered on

    Yes, you can. As long as you have invested $1 million USD of traceable funds and have created, or are in the process of creating, 10-plus jobs.

  • Avatar

    Lynne Feldman

    Immigration Attorney
    Answered on

    That is definitely doable. Have you created 10 permanent jobs or can you show how the business will do this in the next few years?

  • Avatar

    Jinhee Wilde

    Immigration Attorney
    Answered on

    Depending on the structure of the company, you may be able to use that for EB-5 with an appropriate business plan. Consult with the EB-5 corporate attorney and the business plan writer.

  • Avatar

    BoBi Ahn

    Immigration Attorney
    Answered on

    Yes, you can use the investment you made in a business three years prior for the EB-5 processing as long as you are able to provide all the requirements to qualify for the EB-5 immigrant investor.

  • Avatar

    Charles Foster

    Immigration Attorney
    Answered on

    You may well be eligible to file an EB-5 petition based upon your initial $1 million investment, provided that you can show that you have or are in the process of hiring 10 U.S. workers and can prove a lawful source of funds for the $1 million.