How can I apply for EB-5 based on the assets of my friend? - EB5Investors.com

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

Lynne Feldman

Lynne Feldman

Immigration Attorneys
Answered on

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

Salvatore Picataggio

Salvatore Picataggio

Immigration Attorneys
Answered on

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.

Bernard P Wolfsdorf

Bernard P Wolfsdorf

Immigration Attorneys
Answered on

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.

Belma Demirovic Chinchoy

Belma Demirovic Chinchoy

Immigration Attorneys
Answered on

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

Sam Silverman

Sam Silverman

Business Plan Writers
Answered on

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.

A Olusanjo Omoniyi

A Olusanjo Omoniyi

Immigration Attorneys
Answered on

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.

Stephen Berman

Stephen Berman

Immigration Attorneys
Answered on

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

Fredrick W Voigtmann

Fredrick W Voigtmann

Immigration Attorneys
Answered on

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.

Dale Schwartz

Dale Schwartz

Immigration Attorneys
Answered on

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.

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