I am about to start my EB 5 application process for a direct investment. My question is, once I transfer my money to my company's bank account, since I cannot yet work in the United States, can I hire somebody to start running my business (hiring people, leasing office, etc.)? And then in 1.5 years, can I just come and take over operations? Is this an acceptable way to spend my EB-5 investment money while the I-526 is pending?
Hiring a manager may be an appropriate option. Investment must be spent on job creation. You should engage the legal services of an experienced EB-5 immigration attorney and business attorney to advise you throughout the process and file the I-526 petition.
You should hire someone to manage your business while you are outside of the United States awaiting your visa. All the expenses you described are proper ways to spend the funds for EB-5 purposes, i.e. the money you invested should be spent on job creating activities. You will need to structure the business properly so that you still have control over the business even from afar and can transition smoothly to operate the business after you are in the United States as a conditional permanent resident.
You really need to have a good lawyer advising you. Yes, you can invest on a B-1, hire people, etc., but you cannot work. Do you have competent counsel, as maybe you can get an E-2 investor visa?
You need to be in the process of investing, so your starting operations and hiring the required employees would be in keeping with the object of the program.
Funds must be at risk for an I-526 approval, so depositing money in a bank account would not be sufficient. You should seek legal counsel to guide you through this very complicated EB-5 process.
It may be acceptable, but we would need to review the specific details of your case, timeline, and business, especially the uses of funds, before making a recommendation or determination. Please retain the services of an EB-5 attorney.
