chef188

HI all

I am currently interested in moving to the USA as an investor. I would like to set up my own business as an active investor , and need some advice on the Eb5.

Does any body have any good links on this?

Also does anybody have any good lawyer contacts for this....

All help appreciated!

jackytoo

I have been following a thread on EB5 but it has been deleted, not sure why

Ray

You pick your scheme ..you pay you money ...
all pretty easy if your going the Regional centre scheme

Remembering of course the scheme sunsets in Sept this year

Ray

There must have been some probelem postings ...

chef188

What if i dont want to pick a scheme? and want to genuinely invest?

Ray

Do you mean the Minimum one million dollar way ...

chef188

yes; what are the restrictions, how long do i have to invest it? etc.

Ray

The major item is proving where the funds come from
then find a business
or creation of af a new business
The investment must create at least 10 full-time jobs for US citizens, lawful permanent residents or other immigrants lawfully authorized to be employed in the United States.

and keep it all going for the 2 years of the conditional Green card
When you have the ten year card .... you are a permanent resident and can do what you like

http://www.uscis.gov/portal/site/usc...0045f3d6a1RCRD


http://www.visalaw.com/00nov2/12nov200.html

Bob

Or half a mill if it's in some shit hole...and it can be to save ten jobs, not just having to create 10 new jobs...

Folinskyinla

Hi:

OK, if you are setting up a NEW business, you will need not only the services of an Immigration Attorney, but also some type of business law attorney. [Some the "big" law firms may be able to assist you in both, or an immigration lawyer who actually does EB-5's can make an appropriate referral].

Many immigration lawyers do NOT do these -- the malpractice carriers really don't like them and the premiums go up if you do. I don't do them anymore. But from the days I did, I can give you the following GENERAL information.

1. You have to make an investment of $1,000,000 or $500,000. The reference to "shit holes" for the $500,000 is incorrect. The $500,000 applies to areas of high unemployment OR rural areas. Some of the rural areas are really quite nice. Also, it pays to note that there are localized pockets of high unemployment, often noted by individual postal ZIP codes. In other words, it is quite possible to live in a wonderful area which is not that far where the business might be.

2. The investment must be "at risk." Essentially, this means you have to make a CASH investment. Financing secured by the business assets does NOT count. [Curiously, unsecured financing will suffice -- the government does not a clue about deficiency judgements, but I digress]. There may be exceptions on this, but it is well beyond the scope of a general post.

3. The funds must be from lawful sources. Be prepared to establish in excruciating detail how you got the money. There is a presumption of guilt on this one. Sometimes this is relatively easy and sometimes fiendishly difficult.

4. You must have a reasonable business plan to set up 10 NEW jobs.

5. The status will be 'conditional' for two years and at the end of the two years the 10 jobs are in actual existence. [Again, this is general].

A legal consultation is in order because the advisability of the investment cannot be made without knowledge of all the facts and exercise of due diligence.

I'll end with a story -- a colleague did a successful EB-5 for an inventor of a particular piece of software. Investment made, appropriate business plan submitted and EB-5 is approved. When it comes for removal of the condition, the lawyer finds out that not only were much more than the 10 jobs created, the software was so wildly successful that the a major company made a buy-out offer of many many millions of dollars. The company bought the immigrant's business and kept it in operation as a division with immigrant as Vice President in charge drawing a huge salary. In fact, the division's employee numbers were now over 200 employees.

The application for removal of the conditions were removed although the company technically did not exist -- but the enterprise did.

Good luck.

[Caveat -- I may be a lawyer, but I'm not your lawyer].

Folinskyinla

Hi:

Do you mean how long you have to keep the business going or how long do you have to put the money in? If it is the later, all the funds must be available and committed at the time of the application.

chef188

Thanks for all the info..

so does anybody actually know a brief they can recommend?

Also with regards to funds commited at the time of application, i take it this means they must be in a company accout in the US?