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How should we attract EB-5 investors?

My company has purchased a former Fortune 500 company outside of Boston. We purchased the property for the extra land, which we will use for a solar farm. We have just put the building back on the market. And we are wondering if this type of property would be suitable as an EB-5 offering? How should we start to attract investors?

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    It all depends on your business plan for this venture. However, before you proceed further talk to an EB-5 attorney who can help assemble relevant professionals in putting the various parts of this business together. Solar is one of the alternative energies otherwise known as clean energy or distributed generation forms of the energy industry. It has been commercially viable in at least the last fifteen years but, you must understand it is an industry steep in both state and federal energy regulations. Most reputable financial institutions do support the solar industry. In terms of recruiting foreign investors, your concerns under the current EB-5 regulations should be how can you meet the EB-5 requirements such as 1) right from the beginning you need to determine whether this area can be classified as a TEA or not. This will help determine the kind of investor you should be soliciting for either $900,000 or $1.8 million, 2) how much is your project, 3) how much investors do you need to recruit, 4) whether you can meet the EB-5 job requirement particularly you need to address the issue of how many jobs you can you create for a solar farm in an atmosphere where each investment must create at least 10 jobs, etc. Solar energy production is a fascinating industry, it requires a very detailed business plan as it is susceptible to the vagary of laws and extreme competition from actors in the energy industry.

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    Belma Demirovic Chinchoy

    Immigration Attorney
    Answered on

    You would be best served by scheduling a consult with one of the professionals listed on this site. You can start with an EB-5 consultant/business plan writer or an EB-5 immigration attorney.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    I often review potential business opportunities for EB-5 compliance. Generally, most for-profit business activities can qualify, but we need to figure out job creation ability.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    Before you can solicit investors you have to confirm there is a viable project that will create the necessary jobs. You need to put a team together, including securities counsel to help you draft the PPM and an economist to help you prove job creation. You will also need a knowledgeable immigration lawyer to help you put it all together.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    Often it is word of mouth to your friends or retaining an agent in the countries where you want to attract investors.