I was an H-1B employee (I-140 approved under the EB-2 category), and my spouse was an H4 dependent. But I lost my job and exhausted my 60-day grace period. We have filed for a B2 Change of Status application, and it is still under process. I recently came across a cleaning business based in a rural TEA area. The owner is planning to sell this 20-year-old business for $600k. Could I buy this cleaning business and use it as an EB-5 investment to apply? If yes, what are my options to stay in the U.S. while legally beginning the EB5 application?
Answers
Bernard P Wolfsdorf
Immigration Attorneys DirectoryBuying a business for $600,000 will not qualify but if you make an $800,000 investment and not out of status for more than 180 days, then you may be eligible for concurrent filing.
Julia Roussinova
Immigration Attorneys DirectoryConsult an experienced EB-5 immigration attorney since the preexisting business must meet specific requirements to qualify for EB-5. The amount you mention also does not qualify. Under 245k, there is a 180-day exception for AOS based on employment-based filing.
Lynne Feldman
Immigration Attorneys DirectoryThe EB-5 is an employment-based green card program, so if the Priority date is current and you can make the investment, get the I-526 completed and filed with the I-485 you can remain in the U.S. Best though to always have an underlying nonimmigrant status.
Linda Liang
Immigration Attorneys DirectoryThe answer to your question depends on where you are from. The bottom line is that if the visa is current, you may concurrently file I-526 and I-485. If you are from a treaty country, you will have another option.
Phuong Le
Immigration Attorneys DirectoryIf you are filing for EB-5, there's a 180-day grace period under 245K. It's unclear whether the business you're proposing qualifies though. Neither the investment amount or the structure seems to make sense for EB-5. Maybe safer to make a new investment.
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