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](/resources/images/profiles/60be21f3ebf28ff7b8a692a752d92cf8.jpg)
Bernard P Wolfsdorf
Find an EB-5 Visa Lawyer: Immigration AttorneyBuying 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](/resources/images/profiles/b8c78ee23d4f42c6c58cede44fedb0cd.jpg)
Julia Roussinova
Find an EB-5 Visa Lawyer: Immigration AttorneyConsult 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](/resources/images/profiles/15fa1fad1fc582dd65403f6f950b1e21.jpg)
Lynne Feldman
Find an EB-5 Visa Lawyer: Immigration AttorneyThe 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](/resources/images/profiles/20d534ef3fe79831c525d1a218cc2818.jpg)
Linda Liang
Find an EB-5 Visa Lawyer: Immigration AttorneyThe 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](/resources/images/profiles/7d372e7ebdb02097c5a0e0cf18f745a1.jpg)
Phuong Le
Find an EB-5 Visa Lawyer: Immigration AttorneyIf 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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