For example, is a restaurant qualified for the EB-5 program? If so, must the $1million or $500k be invested all at once or can the payments be spread out over time?
Almost any for-profit business can be an EB-5 project. We have represented restaurants, hotels, medical facilities, media companies and more. As long as the project is structured properly, it can be nearly any business activity. All of the investment funds should be invested or placed in escrow before filing the I-526 petition.
Any lawful business qualifies if it is created to engage in commercial activity. Allowed forms of business may include sole proprietorship, general or limited partnership, a holding company, a joint venture, a corporation, a business trust, a limited liability company, or other "for profit" public or private entities. On the other hand, nonprofits do not qualify for the EB-5 program. Also, holding companies created to hold passive investments (such as a residential real estate for rent) will not qualify. Your restaurant may qualify for EB-5 if an investor can create at least 10 full-time jobs within it. As for the investment amount, that will depend on where the business is located. If the restaurant is located in a targeted employment area (TEA) or rural area, the investment threshold is $500,000. In any other case, the minimum investment is $1million. To answer the final part of your question, if the investment payments are spread out over time, it must be clearly explained in the comprehensive business plan with supporting documentation. You must also have the entirety of the investment in your possession before filing.
The investment amount does not depend on the TYPE of the business but on the LOCATION of the business. If the business is located in a Targeted Employment Area (TEA), then the investment can be $500,000. If not in a TEA, then the investment has to be $1million. The investment amount can be made over time, but you cannot file an I-526 petition for a green card until the minimum investment amount has been made.
Any type of business can qualify for the EB-5 program. However, the full monetary amount must be invested before the I-526 is filed.
Any new commercial enterprise that results in ten full-time jobs for U.S. Citizens or Permanent Residents based on an investment qualifies for the EB-5 program.
You need to meet the minimum investment amount to qualify for I-526 approval. In other words, you should anticipate having the entire amount invested prior to the adjudication of your I-526.
Technically, any type of business could qualify for the EB-5 program, including a restaurant. The minimum investment can be invested over a period of time, but form I-526 must show that you already have the funds as well as business plan to invest the full amount and create 10 jobs for U.S. workers. In addition, at the time you file your Petition To Remove Conditions on Form I-829, you must have fulfilled those EB-5 requirements or you will not be able to maintain your residency.
Opening new restaurants is an excellent option for EB-5, but take these points into consideration. First, make sure all employees are United States citizens/permanent residents. Second, it''s best to start a new restaurant rather than to expand an existing establishment. Third, it is always better to invest all at once.
In order for a business to qualify for EB-5 Immigrant Investor processing, it needs to be a new commercial enterprise. A restaurant would qualify as long as it meets all EB-5 requirements, such as job creation (ie., create at least 10 full-time jobs for U.S. citizens/residents). Whether the minimum capital investment amount is $1million or $500K is determined by the location (ie., TEA) and you can only file for EB-5 after the full minimum capital is invested.
