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How can I use a past investment to apply for an EB-5 visa?

Two years ago, I invested $1 million in a restaurant chain business owned by my American friend. He has used the money to build three locations on the East Coast and created more than 30 new jobs. Am I eligible to apply for EB-5 now with this past investment? If so, will the job-creation requirement be considered fulfilled in my case, or do I have to create additional jobs? What are the requirements on the timeframe of EB-5 job creation?

Answers

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    BoBi Ahn

    Immigration Attorney
    Answered on

    There is no set time limit between making the investment to when you file for EB-5 processing. You would need to make sure you have evidence to support the EB-5 petition (job creation, lawful source of funds, requisite capital investment, etc.).

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    Phuong Le

    Immigration Attorney
    Answered on

    Assuming you can explain how you lawfully acquired the fund to invest $1 million in the first place, you may be able to apply for EB-5, depending on whether the project contemplated that it would use EB-5 funds or some other qualifying reason (such as bridge financing). Two years may be a bit too long, though. But again, this is very fact-dependent. However, you should seek a consultation for further discussion.

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    Daniel A Zeft

    Immigration Attorney
    Answered on

    You may be able to proceed with an EB-5 case based on this past investment. How the business and your investment were structured will determine if you can proceed with an EB-5 case. If you can proceed with an EB-5 case, then the job-creation requirement will be satisfied. You need a consultation appointment with an immigration attorney so that these issues can be addressed.

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    Julia Roussinova

    Immigration Attorney
    Answered on

    It is possible that you have a direct EB-5 case. You will need to show you have invested in the new commercial enterprise, that your EB-5 investment originates from a lawful source of personal funds, is fully traceable from you to the new commercial enterprise, and that it created at least 10 full-time jobs. A comprehensive consultation with an EB-5 immigration attorney will be necessary to discuss specifics of your case.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    Possibly. Details would need to be flushed out.

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    Charles Foster

    Immigration Attorney
    Answered on

    In order to use the $1 million that one invested two years ago in a restaurant chain, one would have to establish that, as a result of such investment, the funds have created an additional 10-plus jobs for U.S. workers. By investing $1 million you are not located in a targeted employment area. You would have to show a lawful source of funds for the original $1 million investment. Alternatively, if you cashed out your existing investment and reinvested it in a new entity that would have three restaurant locations and create more than 30 new jobs for U.S. workers, you could equally on that basis. Based upon your original investment, again, you would have to show that 10 new jobs for U.S. workers were created subsequent to your investment.

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    Stephen Berman

    Immigration Attorney
    Answered on

    Yes, but you will have to show where you got that million dollars as well.

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    Sarah Xiao Qian Mu

    Immigration Attorney
    Answered on

    If after this past $1-million investment, there has been 10 jobs created or there will be 10 jobs created, you can utilize this opportunity to apply for investment visa.

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    Vaughan de Kirby

    Immigration Attorney
    Answered on

    It may indeed be possible. I recommend you immediately consult with a qualified investment immigration attorney. The sooner you take action, the better your chances of laying the required documentary foundation.

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    Belma Chinchoy

    Immigration Attorney
    Answered on

    You should be able to use this investment, but it depends on the paper trail, terms etc. All jobs created after the investment count toward the required job creation. You need a lawyer experienced in direct EB-5 investments to reverse-engineer this business and investment into an EB-5 petition.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    There may be a case. You have to prove that you invested and how that investment created the jobs, and, of course, you have to show where the money came and that it came from your personal funds.

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    The investment can be justifiably used for EB-5. However, there are a number of issues that must be resolved, particularly in terms of documentation of the past investments. Also, you would need to address the question of how the investment was structured at the time specifically. Was it a loan or purposefully a business investment? There must be well-delineated accounting records of the investment to date that would warrant a re-classification two years after the investment was made.

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