Questions and Answers > EB-5 Investments

How can I apply for EB-5 based on the assets of my friend?

I am from India and I am planning to lease a business on H4 EAD and have 10 full-time employees. My friend who is an American citizen will be a partner and the actual owner of the business. Am I eligible to apply for an EB-5-based green card based on this business and properties of my friend, altogether worth $1.7 million?

Answers

• Dale Schwartz

  Immigration Attorney

  Answered on August 25, 2020

  In a word, No. You must prove you invested $900,000 of your own. You can obtain the money from your work, inheritance, gift or a loan secured by your other personal assets.

• Fredrick W Voigtmann

  Immigration Attorney

  Answered on August 25, 2020

  An EB-5 investment must be a personal investment from the foreign investor. If your friend legally gifts you the cash/assets and you make the investment, then it should qualify for EB-5, even if he is your partner. You should consult with an experienced EB-5 immigration attorney regarding the specific requirements and the documents/evidence needed to establish your investment qualifies for EB-5 purposes.

• Stephen Berman

  Immigration Attorney

  Answered on August 25, 2020

  You can do it by having your friend give you the money as an irrevocable gift.

• A Olusanjo Omoniyi

  Immigration Attorney

  Answered on August 25, 2020

  Although you may be eligible to apply for EB-5-based green card but, you need to proof that your financial investment to this business meet the EB-5 requirement which is a minimum of $900.000. Furthermore, one has to look if the business in question is an area where $900,000 is even enough, otherwise the minimum investment may be $1.8 million, which, based on your facts, with a business worth of just $1.7 million may not be enough. Advisably, consult an EB-5 attorney for better evaluation of your plan before you proceed.

• Lynne Feldman

  Immigration Attorney

  Answered on August 25, 2020

  Not unless your friend gifts or loans the funds to you.

• Sam Silverman

  Business Plan Writer

  Answered on August 25, 2020

  Your friend would have to gift or loan you $900,000 in cash and then that cash would then need to be invested into the new business.

• Belma Demirovic Chinchoy

  Immigration Attorney

  Answered on August 25, 2020

  Your friend needs to gift you the required EB-5 amount.

• Bernard P Wolfsdorf

  Immigration Attorney

  Answered on August 25, 2020

  He would have to gift the money to you and then if you create 10 new jobs maybe there is a case unless its officially a "troubled business" then you can save 10 jobs.

• Salvatore Picataggio

  Immigration Attorney

  Answered on August 25, 2020

  EB-5 requires a personal investment of $900,000 or $1.8 million. Unless he gifted you the funds to start the business, his investment will not count toward your EB-5 process.