How can I achieve my EB-5 direct investment?

You need a consultation appointment with an immigration attorney to discuss your potential direct EB-5 case and how it would proceed.

Yes, you will need to create the business, in essence registering or incorporating the business, in a state. In addition, you will need to additional steps to ensure the business becomes operational before you file EB-5 petition. Advisably, consult an EB-5 attorney as early as possible before you proceed with your plan.

In order to make a direct EB-5 investment you must determine where the enterprise will be located and whether or not you must make a minimum $1 million investment or, if it is located in a targeted employment area (TEA), a $500,000 investment. When you file your EB-5 investor petition on Form I-526, you must describe in detail the project, job creation, a ruling from the appropriate state or local official that your project is located in a TEA and the necessary license to do business which typically, if you are a corporation, would be proof of incorporation. Depending upon the nature of the business, you might need a separate license as well.

You can theoretically develop it, but it is best to have the jobs by the time you file. That is difficult if you are abroad. For this reason and because it is hard to create 10 full-time jobs with only a $500,000 investment, 95 percent of applicants file under the regional center program.

A direct EB-5 investment requires that you form a new commercial enterprise (for example, a limited liability company) that will create at least 10 full-time (minimum 35 hours/week) positions and in which you have, at the minimum, a policy formulation role. A comprehensive EB-5-compliant business plan must also be prepared to be submitted with I-526 petition. Please consult an experienced EB-5 immigration attorney who will guide you regarding all requirements and competently prepare your case.

You need to form the business prior to filing of an I-526 petition; much of the other "development" can take place after you file I-526.

A business needs to be set up, LLC created, tax ID, location established and funds invested into the business. The business plan should be showing the likelihood of 10 full-time jobs being created in the next couple of years.

The business has to be a viable commercial enterprise that can function, operate and generate revenue, as well as be able to employ the requisite minimum number of employees for EB-5 purposes. Not everything has to be completed in terms of licenses, etc., but should be imminent and a majority in place. Minimally, the entity has to exist (i.e., if it is a corporate entity, it has to be properly registered, taxpayer ID obtained, business account established, etc.) for the EB-5 application to be filed.

You need to hire an experienced EB-5 business plan writer who can prepare a really good plan. It can show that the business will be acquired, the employees hired and the money put in during the two-year period you have to establish a business. I usually suggest that my clients put some amount of money in the corporation that will own the business before filing the EB-5 application. The best advice I can give you is to hire an immigration lawyer who has lots of EB-5 experience.

In order for you to file the I-526 petition, which is the first step of the EB-5 visa process, you must make the investment and submit that you have a business entity and comprehensive business plan with that petition. Thus, yes, you must create the business and apply for the license, if that is required.

You need an immigration attorney to help you set everything up properly before filing the I-526 petition.