A Olusanjo Omoniyi
Immigration AttorneyIt can be done but it is fraught with legal issues that, unless done properly, may be deemed unacceptable or in the end is virtually unachievable. By the way, crowdfunding is largely used by startups to supplement their financing. It is not used as the only form of financing. In addition, even if you go through EB-5 financing for your project (or startup), you have to comply with at least two main EB-5 requirements. First, you must raise the mandatory minimum amount of either $500,000 if your business is located in the targeted employment area (TEA) or $1 million in non-rural area. Beginning from Nov. 21, 2019, these two minimum amounts will go up from $500,000 to $900,000 and $1 million to $1.8 million, respectively. Furthermore, the second EB-5 requirement which you must comply with is that with each investment amount you raised, you must create at least 10 jobs. Advisably, contact an attorney for appropriate planning and analysis of the legal implications before proceeding.