We have applied for EB-5 I-526 in September 2018. The actual revenue of our EB-5 business is lower than projected revenue. Is this a problem if we need to submit business financials for the I-526 RFE response, if there is RFE in the future?
Answers
Bernard P Wolfsdorf
Immigration Attorneys DirectoryThe critical element is to show the requisite capital has been invested and the requisite jobs created. Financial projections slay ate not relevant.
Fredrick W Voigtmann
Immigration Attorneys DirectoryWhile projected versus actual revenue is an important business concept and may indicate the likelihood of success of the business, it is not crucial for I-526 purposes per se to meet your projected revenue target. It is crucial, however, to demonstrate that the business plan is credible and based on verifiable information. It also is crucial that the business itself is viable and that it likely will create the required number of full-time positions for U.S. workers. Therefore, as long as your revenue is sufficient for business survival and job creation, you should be able to answer any RFE issued by USCIS and still get the I-526 petition approved.
Salvatore Picataggio
Immigration Attorneys DirectoryIf job creation is not affected, then it is probably OK.
Lynne Feldman
Immigration Attorneys DirectoryThe main concern is if the required jobs will be created by the I-829 filing and will be business survive; a downturn is not fatal in itself.
Belma Demirovic Chinchoy
Immigration Attorneys DirectoryBy itself, a less-than-projected revenue will not cause a denial of an I-526 petition.
Mark AM Catam, Esq
Immigration Attorneys DirectoryThe job creation would be more critical than the revenue.
Dale Schwartz
Immigration Attorneys DirectoryIt is not a problem as long as your the required new 10 full-time employees.
Michele Franchett
Immigration Attorneys DirectoryIt depends. If your investment is in a stand-alone (not a regional center-affiliated) business, there is no requirement in the statute or regulations that the business must meet the revenue targets outlined in the business plan. The requirements are that you make/made the requisite investment, have sustained it, and the investment helped the business create at least ten full-time jobs for U.S. workers.
Stephen Berman
Immigration Attorneys DirectoryThere is no requirement that the business is profitable, only that it creates 10 jobs.
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