What is the best way to convert an E-2 visa into an EB-5?

A total of $500,000 is required by the time you file the I-526 Petition. The EB-5 rules are the same in each state, but the difference between the amounts are based on the specific location of the project. You should work with an immigration attorney to ensure you are proceeding in the best way.

Whether your business is located in a Targeted Employment Area (TEA) would determine minimum investment amount of either $500K or $1 million. A TEA is determined by the State. You may be able to combine previous $200k and newly invested capital in order to qualify for the EB-5 program as long as you meet the other criteria, including creating 10 full-time jobs.

To qualify for EB-5 with the lower investment amount of $500,00, the business must be within the Targeted Employment Area (TEA) as designated by the state. It is possible that your E-2 treaty investment qualifies for EB-5, but it needs to be carefully planned. It is strongly recommended that you seek out an experienced EB-5 immigration attorney who can plan out the process for you.

If you already invested $200k prior to obtaining the E-2 visa, then you only need to invest an additional $300k to file for the EB-5. Also, your income from the E-2 businesswhich you distribute, pay taxes on, and re-invest into the companywill also be considered a part of your investment.

To qualify for the $500,000 minimum investment, the new commercial enterprise would need to be in a Targeted Employment Area as designated by the State.

If you make an initial investment of $200,000, obtain a non-immigrant E-2 Treaty Investor visa, put in an additional $300,000 for the full minimum of $500,000, ensure the enterprise is located in a Targeted Economic Area (TEA), AND create at least 10 jobs as a result of that investment, you may be able to use your initial $200,000 when you file an EB-5 Investor Petition on Form I-526.

It is now taking at least 14 months to adjudicate the I-526 petitions. Once approved, if a visa number is available, you could immediately file for Adjustment of Status and obtain your Conditional Permanent Residency in approximately 6-9 months, depending on the jurisdiction where you are residing. Whether it is a $500,000 or $1million employer depends upon the location of the new commercial enterprise in which you have invested. It will only be $500,000 if the enterprise is located in a TEA. You will to consult with the Governor or, if delegated, by the appropriate Mayor or County Official to confirm the enterprise is located in a TEA.

You can count the earlier investment but you need to trace how the funds were used to create jobs. Make sure to plan out the conversion process carefully from the beginning.