How can I use EB-5 investment to expand my licensed cannabis business? - EB5Investors.com

How can I use EB-5 investment to expand my licensed cannabis business?

Are there any restrictions on allocating EB-5 investment money into my cannabis business? My company is completely licensed for technology, formulations and branded products in California.

Answers

Barbara Suri

Barbara Suri

Immigration Attorneys
Answered on

The EB-5 program is federal. I have no information that the state-licensed cannabis business is accepted by the federal government.

A Olusanjo Omoniyi

A Olusanjo Omoniyi

Immigration Attorneys
Answered on

Ironically while California, more than any state in the country, has been in the forefront of regulation of cannabis and its related business ventures, the same thing cannot be said of the federal government which has stoutly opposed the growth of the industry. Under federal law, cannabis is a controlled substance and illegal drug just like cocaine. It is considered illegal with no acceptable medical use. Therefore, as of now EB-5 investment in the cannabis industry from a federal point of view remains non-approvable and future investments are unpredictable. For example, financial transactions by the cannabis industry with any FDIC regulated financial institutions are virtually barred.

Julia Roussinova

Julia Roussinova

Immigration Attorneys
Answered on

Even if your business is licensed under state law, it is not legal under federal law. EB-5 is a federal immigration program. You cannot help a foreign EB-5 investor obtain a green card based on investment in this type of business under current law.

Charles Foster

Charles Foster

Immigration Attorneys
Answered on

We strongly recommend that you not seek permanent residency through an EB-5 investment into the cannabis business. While same may be completely legal under the laws of California, it is still not legal under the laws of the United States and you could well be found to be excludable from same.

BoBi Ahn

BoBi Ahn

Immigration Attorneys
Answered on

Licensed cannabis business may be legal statewide, but cannabis/marijuana use and/or sale is not legalized federally. Since USCIS operates on federal law, this may not be the best choice for EB-5 immigrant investor financing.

Salvatore Picataggio

Salvatore Picataggio

Immigration Attorneys
Answered on

Since EB-5 is a federal program and the federal government is staying away from all of this, letting individual states try it out, I would be highly suspect that such a business would be accepted for EB-5.

Bernard P Wolfsdorf

Bernard P Wolfsdorf

Immigration Attorneys
Answered on

If you use any EB-5 money for a cannabis business, that foreign national will likely be found inadmissible or banned from the U.S. There is no way a foreign nationals can invest in a business relating to marijuana and obtain immigration benefits.

Marko Issever

Marko Issever

EB-5 Broker Dealers
Answered on

The simple answer is that until marijuana becomes legal to own, sell and use in the United States at the federal level, you cannot use EB-5 funds to expand this kind of business. It is almost definite that USCIS will have an issue with this. The fact that in certain states the use or in some cases the sale of this product is legal for medical and even recreational uses does not mean that EB-5 investors who invest in your project will be able to get a green card. Besides, you should also familiarize yourself with all the other standard requirements of EB-5 funding.

Belma Demirovic Chinchoy

Belma Demirovic Chinchoy

Immigration Attorneys
Answered on

You cannot. Cannabis and anything related to it is a violation of federal law, which governs all things related to immigration.

Lynne Feldman

Lynne Feldman

Immigration Attorneys
Answered on

Since it is not legal under federal law, I do not see this working for EB-5.

Vaughan de Kirby

Vaughan de Kirby

Immigration Attorneys
Answered on

The commercial enterprise must be lawful under federal law. I believe this would preclude the investment even though your business is lawful under state law. I would explore this idea with an experienced investment immigration attorney.

Robert West

Robert West

Immigration Attorneys
Answered on

You cannot. Marijuana is illegal under federal law and EB-5 is a federal program. Be very careful, as I know someone who personally was accused of being a drug trafficker. He was not a U.S. citizen and he was deported to his home country. Stay out of the marijuana business until you become a U.S. citizen.

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