You are hereEB-5 Eligibilities & Requirements: I-526, CPR & I-829
EB-5 Eligibilities & Requirements: I-526, CPR & I-829
Who are eligible or ineligible to pursue EB-5 case, and what are specific requirements for each type of petition or application?
[Q] Can a LP be formed to purchase bonds issued by a city for its infrastructure project?
One difference I see is that where a LP is formed to make a commercial loan to a city agency for its infrastructure project, there is a precedent (Izumii case), but for purchasing bonds, there is no precedent case. We would not be surprised if this issue is revisited by USCIS in future.
[Q] Can you get an advance from credit cards and come up with EB-5 funds?
[Q] I have several options for gathering the funds needed to invest for the EB-5. I wanted to know if I can use advances from credit cards to make it happen?
No. Review the definition of "capital" which excludes unsecured (personally-owned properties) loan.
[Q] Can unsecured loans be used as EB-5 investment funds?
[Q] I have a question regarding funding source that can also contribute to your website: Can a 200K unsecured personal loan from a family member and a 300K unsecured personal loan made by a recognized financial institution be used as my personal funding source for a EB5 business?
The answer to your question lies in the definition of "capital". The definition of allowable "capital" does not allow unsecured loan to be used as EB-5 investment funds. Any loan used must be indebtedness secured by assets owned by the alien entrepreneur, provided that the alien entrepreneur is personally and primarily liable and that the assets of the new commercial enterprise upon which the petition is based are not used to secure any of the indebtedness.
[Q] How does USCIS interpret "rural area"?
[Q] Client wants to start new business in a city that has under 20,000 residents, but that city is a part of a Metropolitan Statistical Area. Could this qualify for a $500,000 investment because it qualifies as a "rural area", or does he need to invest $1 million?
Practically speaking, this is how USCIS defines "rural".
The immigration regulations define "rural" as "any area NOT within EITHER a metropolitan statistical area (as designated by the Office of Management and Budget) OR the outer boundary of any city or town having a population of 20,000 or more."
[Q] I am currently in out of status nonimmigrant status for some time. Can I pursue EB-5 case?
You better discuss your case with an EB-5 practitioner with good knowledge of general US immigration laws. This is because while nothing prevents one from filing I-526 immigrant petition or getting I-526 approved, having been out of status or "unlawfully present" will pose big obstacles to your being able to adjust status to permanent resident via I-485 or obtaining immigrant visas via consular processing abroad.
[Q] Can people eligible (grandfathered) under 245(i) obtain I-526 and adjust under 245(i)?
Yes, if they can prove that the underlying fund was not obtained or earned while they were in unlawful presence in the U.S. and they can prove they are eligible and have been grandfathered under 245(i). 245(i) waives people who Entered Without Inspection.
INA 245(i) reads:
[Q] Can I apply for EB-5 case when I am in H-1B status and own a business?
[Q] I bought and is still the sole owner of a franchise as a H1-B visa holder currently, the biz is on "autopilot" and I don't get involved in actively managing the biz. Would this affect the EB-5 application?
No, you can be in H1-B status and still own a business, as long as you don't actively manage the business.
[HOT] [Q] If an Iranian national's investment money comes from an Iranian bank, then any additional requirement?
According to another EB-5 practitioner, Boyd Campbell, "although Iranian Transaction Regulations do not require a U.S. business to get an OFAC license in order to accept Iranian citizens' investments from Iranian banks, but USCIS requires the license anyway, and OFAC has obligingly issued them, citing no authority to do so."
[Q] My wife and I are currently in E-2 status with an approaching E-2 expiration date. Any issues in processing EB-5 case?
[Q] My wife and I are currently in E-2 status with an approaching E-2 expiration date. We are considering an EB-5 case. Any potential issues?
Whenever applicant in NIV status is considering an EB-5 case, there are issues involving maintaining NIV status. Therefore, a detailed paid consultation is recommended to elicit key facts and then decide on the best course of action.
What my George Washington tax law professor said about the tax law applies equally to immigration law: "Everything about tax law (substitute the immigration law here) and sex is about the timing."
The funny thing is that's the only thing I remember about the class.
