How is an EB-5 existing business different from a new commercial enterprise? - EB5Investors.com

How is an EB-5 existing business different from a new commercial enterprise?

I have a partnership in a restaurant. My partner wants to transfer the business in my name, and I want to apply for an EB-5 green card using this business. Would it be considered an existing business, since I already have a partnership in it, or a new commercial enterprise? Are there different requirements for an existing business?

Answers

Salvatore Picataggio

Salvatore Picataggio

Immigration Attorneys
Answered on

There are different job creation requirements for an existing business. An EB-5 attorney can assist you with the determination of an existing business and the overall EB-5 infrastructure.

Bernard P Wolfsdorf

Bernard P Wolfsdorf

Immigration Attorneys
Answered on

It is hard to make this type of investment work as the investment must create new jobs. Best to open a new restaurant.

Ian E Scott

Ian E Scott

Immigration Attorneys
Answered on

This is the USCIS definition for an EB-5 New Commercial Enterprise. *Established after Nov. 29, 1990, or *Established on or before Nov. 29, 1990, that is: 1. Purchased and the existing business is restructured or reorganized in such a way that a new commercial enterprise results, or 2. Expanded through the investment so that a 40-percent increase in the net worth or number of employees occurs.

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