How can my brother relocate to the United States through EB-5 to run my business with me? - EB5Investors.com

How can my brother relocate to the United States through EB-5 to run my business with me?

I am a US citizen. I own a business and would like to gift part of it to my brother who lives in Spain. Can he use this as an EB-5 investment? Are there any limitations against this? What visa would be suitable for him to help me run the business?

Answers

Bernard P Wolfsdorf

Bernard P Wolfsdorf

Immigration Attorneys Directory
Answered on

You can gift him the money but reinvesting it in your own business is unlikely to create the requisite number of jobs. You would have to take the money out and pay taxes, otherwise it is seen as retained earnings. May be easier to take the money out and gift it to him and have him invest in a regional center project as this looks like it is not a genuine arm''s length transaction.

Lynne Feldman

Lynne Feldman

Immigration Attorneys Directory
Answered on

You might consider an E-2 to start.

Belma Demirovic Chinchoy

Belma Demirovic Chinchoy

Immigration Attorneys Directory
Answered on

For EB-5, you have to gift him capital that he can invest in your business. For E-2 (assuming your brother has an E-2 eligible nationality), he would have to own the majority of the business as you are a US citizen. It is best to consult with an attorney so they can understand your facts and advise you accordingly.

Sally Amirghahari

Sally Amirghahari

Immigration Attorneys Directory
Answered on

Under the new EB-5 regulation, if your brother is in the U.S. when he applies for an EB-5 investment visa, he can also petition for work authorization and travel document simultaneously with his EB-5 petition. Once he receives his work authorization, then he can legally work and help you with your business, too.

Stephen Berman

Stephen Berman

Immigration Attorneys Directory
Answered on

In my opinion it will not work because it will not be a new enterprise and will not create 10 new jobs.

Benjamin Hu

Benjamin Hu

Immigration Attorneys Directory
Answered on

This question raises several separate issues. It is possible for a foreigner to accept a gift, and use that gift to invest into an EB-5 project. The investor must also affirmatively prove that the gift was lawfully obtained, which means that the financial history of the donor needs to be disclosed. It is possible for a foreigner to use non-monetary assets as investment capital into an EB-5 project. This has several issues, including proving the investor''s ownership of the assets, and the accurate valuation of the assets at time of investment. To actually run the EB-5 business, a foreigner may want to consider an E-2 Treaty Investor visa, which is a temporary work visa bearing several similarities to the EB-5 immigrant visa. It is possible to structure a single investment transaction that satisfies both the E-2 and the EB-5 requirements, allowing a speedy E-2 temporary resolution and a longer EB-5 permanent resident status. As with all immigration questions, it is advisable to consult with an experienced immigration attorney before proceeding.

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