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EB5

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This week, the Murthy Law Firm attorneys will answer questions relating to EB5.  

 

Thankfully, the EB5 program has been extended. If you believe you may qualify for this green card option and would like to discuss the specifics of the category, feel free to let us know.

 

Rules for Topic of the Week Threads:

 

 1. Attorney's postings contain general information only and are not a substitute for case-specific legal advice.

 

 2. The attorney will answer only those questions which relate to the main subject. If you have a question on some other issue, please start a new thread in the appropriate forum section.

 

 3. The attorney will not necessarily answer every question posted and may provide a single answer to a group of similar questions.

 

 4. Please do not provide information which would identify any specific company, university or individual. 

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Basic Outline of EB5 Program: 

 

The EB5 category is reserved for foreign nationals who invest one million dollars in a new commercial enterprise that employs ten or more U.S. citizens or authorized immigrant workers. (Investment of $500,000 is required if it is in a rural area or in an area of high unemployment.) EB5 investors obtain lawful permanent resident (LPR) status on a conditional basis valid for two years. After the expiration of the initial two-year period, EB5 investors have to file a separate application with the USCIS to remove conditions on their LPR status.

Requirements
  • The petitioner should invest or is in the process of actively investing capital of $1,000,000 in a new commercial enterprise. Investment of $500,000 is required if it is in a targeted employment area.
  • The petitioner should actively engage in policy formation or the day-to-day business affairs.
  • The investment must create full-time employment for at least ten U.S. citizens or immigrant workers (excluding the petitioner and his immediate relatives) within the two-year conditional LPR period.

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Hello Thanks for doing this, a few general questions:

 

  1. Can the entire or a part of the $1million/ 500k amount come from sale of assets and or gift passed on from family?
  2. Can this be an existing business being purchased by the petitioner?
  3. If an individual already lives in the U.S, legally of course, let's say on an H1 or H4 visa, is EB5 still an option for that individual? is there any difference of currently in the country vs applying from outside the country? 

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Hello Thanks for doing this, a few general questions:

 

  1. Can the entire or a part of the $1million/ 500k amount come from sale of assets and or gift passed on from family?
  2. Can this be an existing business being purchased by the petitioner?
  3. If an individual already lives in the U.S, legally of course, let's say on an H1 or H4 visa, is EB5 still an option for that individual? is there any difference of currently in the country vs applying from outside the country? 

 

 

1. Yes, the money can come from the sale of assets and/or a gift. But, if money is obtained via a gift, one must be able to evidence that the money was obtained legally - so, if the gift is made in a country where a gift tax is required, the USCIS can ask for evidence to show that this was complied with.

 

2. It may be possible to purchase an existing business for EB5 purposes, but it typically is not recommended. In most cases, one must still create 10 new jobs (i.e. Jobs created prior to the foreign national investing in the company would not count toward the job creation requirement; and, if any of those existing employees leave or are fired, those positions would typically have to be refilled in addition to the 10 new jobs.)

 

Also, there are special rules that apply if the company being purchased was created any time before November 30, 1990.

 

3. Yes, an EB5 case can be filed if the person is already in the U.S. For someone in H1B or H-4 status, the only difference is that it would typically be possible to apply for adjustment of status rather than consular processing.

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Thanks for your reply!

 

Regional centers is one option that has been mentioned in murthy updates before. Also I heard news in the media regarding some regional centers which were terminated because of violations.

  1. How would one ensure that the regional center that we approach are legitimate?
  2. Does Murthy firm work with regional centers or only individual petitions?
  3. Are there any reasonable assurances for the money invested in regional centers (rate or return)
  4. Can the regional centers be relied upon for proper immigration processing?
  5. Are there any other costs on top of the minimum investment sum on the immigration front when a regional center is the supporting petitioner?

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Dear Biodallas: It may be best to discuss the specifics of the program over the phone with one of our immigration attorneys. You can also email one of them directly at EB5@murthy.com. 

 

Thank you and Good Luck! 

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