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What are the requirements on business experiences of EB-5 direct investors?

I keep a boutique in my home country and now I am planning to participate in EB-5 direct investment but am wondering what kind of business would bear a higher chance of approval. Will setting up a business similar to what I used to do in my home country increase my chance of getting approved? Do I need to have the business experience similar to my proposed direct investment?

Answers

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    Julia Roussinova

    Immigration Attorney
    Answered on

    There is no business experience requirement.

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    Daniel A Zeft

    Immigration Attorney
    Answered on

    There is no specific requirement that the EB-5 investor invest in a direct project that is a business similar to businesses that foreign national has run in the past.

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    There is no specific set of requirements on business experiences and skills for EB-5 direct investors. There is so much information on how to run a business in the U.S. in general from various sources in both written and oral forms, such as books, articles, just to mention a few. However, to gain an approval for your EB-5 direct investment petition you must put together a business plan. Advisably, consult an EB-5 attorney who can help put your plan in proper perspective.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    There is no U.S. immigration law requirement that an EB-5 investor has any experience, but from a practical standpoint, if you are considering a direct EB-5 investment where you own and manage/operate the business, it would be good to be experienced in that type of business. Even with experience in your home country, you may be at a disadvantage because the U.S. economy and the type of customers/clients you may have here will be different. Therefore, there will be a steep learning curve while you adapt your business model to the U.S. market. There are good business consultants who can help with this process. You might also consider a U.S. partner who has experience in your industry or collaborating with an existing business to start out.

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    Vaughan de Kirby

    Immigration Attorney
    Answered on

    Opening up any business will have a risk attached. However, if you have more experience on one field, it would make sense to work on something that can leverage that experience. With that said, I would suggest you consider a regional center investment, as it can expose you to much less risk. Opening your own business may offer a greater return, but with this return comes more risk both from the standpoint of immigration and investment. I would suggest you begin with a consultation with an experienced EB-5 investment attorney. He or she can help you evaluate your plan and refer you to a specialist in drafting USCIS-compliant business plans.

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    Belma Chinchoy

    Immigration Attorney
    Answered on

    The business in the U.S. does not need to be similar to the one you have in your country. Your business management experience and skills are what counts. Your U.S. business should be one for which there is a demand and which will create sufficient EB-5-qualifying jobs.

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    Blake Harrison

    Immigration Attorney
    Answered on

    You do not need to have business experience related to your EB-5 company. However, you will need to include a business plan with your application detailing how you plan to employ 10 full-time employees at the company.

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    Robin J Gray

    Immigration Attorney
    Answered on

    The work experience for an EB-5 direct investor is not necessarily a factor, although when you start a business, your knowledge and expertise in the business you start will affect the success of the business as well as the job creation, financial stability, etc. of the business venture for USCIS purposes. Any business can be an EB-5 direct investment. The most common, however, are construction projects and manufacturing. Franchises are also very popular and acceptable. A colleague of mine filed an EB-5 direct investment for a farm. As long as the business is viable, the source of funds can be verified, all of the financials are in order, your business model is realistic and there are at least 10 jobs created pursuant to the direct investment, you can directly invest in the United States and be successful.

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    Michael A Harris, Esq

    Immigration Attorney
    Answered on

    You do not need to have the same type of business experience in order to run your new direct EB-5 project in the United States. But, that being said, it would be a business decision for you to decide which is better. The EB-5 requirements do not require that you have prior related business experience. As the investor, you should carefully consider the business that you are starting in the United States, as well as other requirements of the EB-5 program, including but not limited to providing a comprehensive business plan. The right team of professionals (which generally includes a business plan writer, an immigration lawyer and a corporate lawyer) will guide you through this process.

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    EB-5 is set up as an almost passive, policy-setting role investment. Thus, there is no reason to choose an investment that is similar to what you are doing, particularly if you will do it through a regional center EB-5. However, if you wish to do a direct EB-5 and actively run the business, it may be helpful to choose a business that is familiar to you.

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    Dale Schwartz

    Immigration Attorney
    Answered on

    No particular experience is required or desirable.

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    BoBi Ahn

    Immigration Attorney
    Answered on

    No, business experience is not a requirement for an EB-5 direct investor.

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    Barbara Suri

    Immigration Attorney
    Answered on

    To my knowledge, the EB-5 does not identify business experiences as a criteria for EB-5 investment.

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    Charles Foster

    Immigration Attorney
    Answered on

    The best business that you could set up as a direct investment would be one that was financially sound and most likely able to support and create jobs for at least 10 United States workers, irrespective of whether or not the business itself was directly related to your prior business experience in your home country. There is no particular business experience required as a matter of law, but obviously you would need sufficient experience to be able to manage and direct your EB-5 investment.

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