I have a company that is incorporated in Florida. However, my principal place of business is in Pennsylvania, and I don''t do any business in Florida. Under these facts, is there a problem with the EB-5 program if I keep the Florida incorporation?
This should not affect EB-5. You should make sure you are complying with Florida corporate law and licensing requirements to keep your company in good standing. If you are principally doing business in Pennsylvania, your company is likely subject to registration requirements as a foreign corporation. You should consult business counsel regarding these issues.
The EB-5 immigration inquiry relates to where you are investing funds and where the jobs are created, your question appears to be more about corporate laws governing our operations. I would recommend addressing this with corporate and immigration counsel.
I do not have enough details about your case. Just make sure you comply with the state laws where you are doing business.
No, the state of incorporation is irrelevant. You can remain incorporated in Florida and do your project in Pennsylvania.
Normally you should incorporate your company in your principal place of business. There might be problems if you keep using a Florida Company for your EB5 project in Pennsylvania.
The job creating entity which may be the principal place of business will be governed by the state corporate laws and regulations. Some states will allow a foreign corporation, that is a corporation from another state, to be registered as doing business in the alternative state, and this can be governed by the state corporate laws and regulations.
The difference between a new commercial enterprise''s state of incorporation and its principal place of business is relevant only if you are in a regional center and/or if you are seeking a lower investment amount ($500,000) based upon a TEA designation. The NCE must primarily conduct business within the TEA. The state of incorporation is not relevant. Of course, the NCE should have all proper state registrations if it was established out of state and it is conducting business as a "foreign" corporation in another state. The Secretary of State/Department of Corporations for the state should be able to provide this information.
You would need to look at the laws of Pennsylvania and see if you are as a minimum required to register to do business in their state and what, if any, other local permits may be required.
That normally shouldn''t disqualify you from the EB-5 program. USCIS will typically look at where the business is being operated and the jobs being created.
If the business is authorized to conduct business in PA, there should not be an immigration issue with the fact that it is a Florida company. You will need to prove valid status in both jurisdictions though.
Your question requires a great deal more information to answer. It sounds like you may require some corporate and tax work.
Place of incorporation is irrelevant to EB-5. The issue is where you are doing business & have 10 or more employees.
The State where the entity is incorporated should not affect EB-5, if the business operates in a different State and the investment otherwise qualifies for EB-5. For example, many businesses are formed as Delaware business entities (in part, because of certain favorable corporate laws and court practices), but have no operation in Delaware at all.
