I am a Canadian citizen on an E2 visa, operating a motel I bought in 2021. I invested in this motel $1.1 million, and the balance came in the form of financing from a U.S. bank. I am trying to find out if I would qualify for EB-5 direct investment through my motel. It is located in a TEA/HUA area. When I came over, the motel was operated by a property management company. All of their people totaled 1,099 contractors. After 6 months, in January 2022, I fired the property management company and started hiring W2 employees. My existing employees are now 5. There is room to create another five jobs as I want to open a restaurant and bar on the premises. Would my existing W2 employees count towards the net new 10 or the ones before I took over?
Answers
Lynne Feldman
Immigration attorneysAs long as the financing from the bank wasn’t secured by your business this could work.
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