I have invested in an EB-5 regional center project and am waiting for I-526 approval. I was presented an opportunity to acquire a small company in the U.S. within the next month. Can I acquire this small company in my name (as the primary EB5 applicant) or should it be in my wife”s name (the dependent)? On what basis can I go to the U.S. and run it while I am waiting for the I-526 approval? I do not want to through the E-2 route.
Answers
A Olusanjo Omoniyi
Immigration attorneysYou would not be able to acquire the business through the I-526 that is currently pending and awaiting approval, which, by all means, appears to be an indirect investment. Further, it appears you are thinking of converting an indirect investment to a direct investment which is not likely to be possible. However, your wife may pursue EB-5 as the primary petitioner through the planned acquisition and designates you as the beneficiary. This effectively means your wife''s EB-5 petition will essentially be pursuing EB-5 through direct investment. Further, even under the direct investment scenario, you will not be able to enter the US to run the business unless the EB-5 petition is approved. Advisably, consult an attorney on your further options before you proceed further on the acquisition.
Salvatore Picataggio
Immigration attorneysForeign investors can continue to make additional investments into unrelated projects, but this new one wouldnt be counted for the pending I-526. Maybe it can be the subject of a new petition if it complies, and then you''d have two I-526s going! Race to approval. You would not be able to run this business while waiting for the I-526 approval unless you had something like the E-2 you don''t want.
Lynne Feldman
Immigration attorneysYou may set up a company in any status but to run it and work there you need an E-2 most likely, assuming you are from a country that is eligible for an E-2.
Bernard P Wolfsdorf
Immigration attorneysYou can own or set up a company but can not work in it until you have a green card, work permit or correct visa such as an E-2, if eligible.
Sally Amirghahari
Immigration attorneysThe short answer is yes, you can. However, there are other issues such as business, immigration and taxation that you need to discuss with an attorney who can inform and guide you prior to purchasing the business.
Belma Demirovic Chinchoy
Immigration attorneysYou can acquire the company without having any immigration status in the US. A pending I-526 is a non-issue. You cannot run a U.S. company while in the US without a proper work visa. It''d be best to consult with an attorney to determine what visa would meet your goals and ideally, you would do this before you acquire the company (as ownership may affect eligibility for certain visas).
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