A year and a half ago, I opened an LLC company with a relative. I invested $100k, the relative $400k. Six months ago I received an L-1 visa. Currently, the business is doing two times worse than in business terms. To extend the L-1 visa, I will have to explain why the business is going so badly. I had the idea of investing another $950k to change my status to EB-5. I will never be able to create more than seven jobs, but I can cover the minimum investment amount like this. Is it possible to do this? If not, what would be a better strategy?
Answers
Lynne Feldman
Find the Best EB5 Visa LawyersEB-1C would be a better option if you can salvage the L-1A petitioner.
Bernard P Wolfsdorf
Find the Best EB5 Visa LawyersIt would be smarter to file in a regional center at $800,000 since that allows for indirect job creation. If you are in status, you can concurrently file an adjustment and not need to extend the L-1.
Belma Demirovic Chinchoy
Find the Best EB5 Visa LawyersWhy would you pursue EB-5 if, as you say, you will not create more than 7 jobs? Speak with an attorney to find an option that might work.
Stephen Berman
Find the Best EB5 Visa LawyersIf you cannot create the jobs, it will be denied. Perhaps you qualify for a student visa, or an H-1B. Otherwise, if you cannot show you are in a management or executive position, unfortunately, CIS will deny the L-1 extension.
Mitch Wexler
Find the Best EB5 Visa LawyersIf you are not confident in being able to create at least 10 jobs, you should not consider using your business as an EB-5 investment vehicle. Perhaps consider a Regional Center EB-5 investment that is in a TEA for $800k and file adjustment of status concurrently which is likely to result in a work permit in about 3 months. This is a good hedge on not being able to extend your 1-year L-1 visa. L extensions are getting harder and harder.
DISCLAIMER: the information found on this website is intended to be general information; it is not legal or financial advice. Specific legal or financial advice can only be given by a licensed professional with full knowledge of all the facts and circumstances of your particular situation. You should seek consultation with legal, immigration, and financial experts prior to participating in the EB-5 program. Posting a question on this website does not create an attorney-client relationship. All questions you post will be available to the public: do not include confidential information in your question.