Legal Question in Immigration Law in California

immigration on investment basis (EB5)
Hi Sir/Madam,
I am an Indian on H1-B visa working as software professional AT&T (The Phone company). Since there are a lot of lay-off are going on AT&T in not willing to start my green card however I am a silent partner of a trucking company, me and friend of mine started this company about a year ago. Sine that we are doing pretty good we have more that 20 employees working for us because the friend of mine is US citizen so we started that business on his name. Now we are doing business of about $200000 a month. So my question is if I get that business transferred on my name can, I qualify for immigration on investment basis (EB5), if yes soon can I get green card. Please advice.
Thanks

Asked on 8/22/02, 8:26 pm

3 Answers from Attorneys

Larry L. Doan Law Office of Larry L. Doan

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Re: immigration on investment basis (EB5)

I think you can qualify for the investment visa if you can show you have the appropriate amount of the investment of your own money, not just as a partner. This could be $1 million or as low as $500,000 if the business is in a rural area. Another thing is you may have to go back to India to get the visa. Contact my office for a consultation if you're serious.

Liem Doan, Esq.

Answered on 8/22/02, 8:45 pm

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Fariba Faiz Law Offices of Fariba Faiz

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Re: immigration on investment basis (EB5)

In order to qualify under the EB5 category you need to show that you have invested one million dollars in either a new business or a failing business and employ a minimum of 10 eligible workers. The invetsment and hiring of 10 employees need not all take place at once, but must be establsihed within a two year period. The fact that the business generates $200000 monthly by itself does not satisfy the investment requirement, i.e. you can't rely on the income from the business to qualify. Fresh capital infusion is needed.

Answered on 8/22/02, 8:48 pm

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