[dropcap]Are[/dropcap] there limits on what types of businesses can qualify to be EB-5 projects?Nearly any type of lawful for-profit businesses can qualify to be EB-5 projects. As long as the business is structured properly, the type of business can be almost anything.Here are a few examples of common types of businesses that may qualify to be EB-5 projects:
- Condominiums
- Hotels or Resorts
- Apartment buildings
- Restaurants
- Mixed-use commercial properties
- Franchises
- Wineries
- Healthcare facilities
What are the basic EB-5 project requirements? To fulfill the program requirements an investor must:
- Invest in a new commercial enterprise project. In certain cases, an investor can invest in a troubled business.
- This project must be at-risk. An investor cannot receive guarantees that they will get their money back.
- The amount an investor places in escrow depends on the location of the project. If the project is located in a targeted employment area, or rural area, they must invest $500,000, otherwise, they invest $1 million.
- The EB-5 investor must create or prove that 10 full-time jobs will be created for U.S. workers within the project.
These requirements must all be fulfilled at the time that the investor files his or her I-829 Petition to Remove Conditions. If an EB-5 investor’s I-829 petition is approved then they become eligible for unconditional lawful permanent residency in the U.S.For more information, send us a message. [formidable id="11" title="1"]