John J Downey
Immigration Attorney
Answered on
Yes, it is possible. You must fulfill all the requirements of EB-5 including the job creation and the business being founded or in existence since 1990.
How can an E-2 investment later be converted to EB-5?
Can one use the funds invested into an E-2 business for an EB-5 investment later down the road? In other words, can the funds I invested towards my E-2 business be counted towards the $500,000 (TEA) investment into an existing EB-5 business? If so, what do I need to do to convert to the EB-5 visa?
Answers
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Ian E Scott
Immigration AttorneyAnswered onAn E-2 business can be used to apply for an EB-5 investment and the amount invested can be used towards the total investment amount. Careful planning and tracing of funds is required in order to make sure that the investment can all be counted and you cannot use company profits unless they are reinvested after tax. The process requires careful planning with an attorney to make sure it is done correctly.
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Xiaosheng Huang
Immigration AttorneyAnswered onIt is complex. First you need to confirm your company is located in the TEA area. Second, what is your current status in United States? And, we need to know your current processing status of your E-2 application. If you just transferred the fund to the United States and have not started the application of the E-2 visa, you can change to an EB-5 application. The requirements regarding the legal source of fund are different between E-2 and EB-5.
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Salvatore Picataggio
Immigration AttorneyAnswered onYes, an E-2 can later become an EB-5 as long as the additional funds are invested and the job creation requirements are met, as well as the other EB-5 project requirements.
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Bernard P Wolfsdorf
Immigration AttorneyAnswered onPardon my directness, you need a good attorney. It is often doable, but you need to prove the investment created the jobs. Also, do not use retained earnings as part of your investment.
