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All other Green Card Issues I-140/I-485, Family Based Green Card

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  #1  
Old 09-19-2006, 12:23 PM
cagedcactus cagedcactus is offline
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Priority Date
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Aug-03
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EB3
I140 Mailed Date
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06-20-2007
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India
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I-485
I485 Mailed Date
:
06-27-2007
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Default What is the investment amount for EB5

I recently came to know that EB5 catagory needs an investment of about 1,000,000 in US. is this correct?
Can someone please confirm this, and post more info.
I am opening a new Dunkin Donuts store, and investment is around $1,000,000. It will hire around 12 US employees. It is not all out of my pocket of course. But my cousin(my partner) who made the most of investment, is willing to show it on my name if that benefits my cause.
any info on this is appreciated.
thanks...
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  #2  
Old 09-19-2006, 12:27 PM
GCwaitforever GCwaitforever is offline
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Priority Date
:
May-02
Category
:
EB2
I140 Mailed Date
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04/15/2007
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India
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N/A
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:
04/15/2007
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Default

Check with an attorney. The GC is conditional for the first two years and you need to prove that you are still in business after two years (tax returns, number of employees etc ...). Then GC will be issued unconditionally.
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  #3  
Old 09-19-2006, 12:27 PM
TheOmbudsman TheOmbudsman is offline
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Priority Date
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Feb-02
Category
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EB3
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Default

Go to shusterman.com and read info there on EB investor category. He said you need much less than this.

By the way, if you need a part-time employee there let me know ;-)

Quote:
Originally Posted by cagedcactus
I recently came to know that EB5 catagory needs an investment of about 1,000,000 in US. is this correct?
Can someone please confirm this, and post more info.
I am opening a new Dunkin Donuts store, and investment is around $1,000,000. It will hire around 12 US employees. It is not all out of my pocket of course. But my cousin(my partner) who made the most of investment, is willing to show it on my name if that benefits my cause.
any info on this is appreciated.
thanks...
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  #4  
Old 09-19-2006, 12:30 PM
masti_Gai masti_Gai is offline
Senior Member
Priority Date
:
Feb-02
Category
:
EB3
I140 Mailed Date
:
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:
I-140
I485 Mailed Date
:
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Join Date: Aug 2006
Posts: 124
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Default yep yep yep


sounds like a stable job
if u can sponsor my job and promise me that u will neva eva lay me off i can work for ur dunkin donuts for 8 yrs till i get ma GC
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  #5  
Old 09-19-2006, 01:44 PM
cagedcactus cagedcactus is offline
Senior Member
Priority Date
:
Aug-03
Category
:
EB3
I140 Mailed Date
:
06-20-2007
Chargeability
:
India
Processing Stage
:
I-485
I485 Mailed Date
:
06-27-2007
Compare
Join Date: Apr 2006
Posts: 178
cagedcactus is a jewel in the rough cagedcactus is a jewel in the rough cagedcactus is a jewel in the rough
Default

thanks for all the input. It says on shusterman that it does need 1,000,000 investment if the it is not done in an area which is facing 150 percent of the unemployment rate.
I am planning to do it in Florida. Which probably wouldnt qualify in unemployment rate catagory.
I will consult a lawyer too.
thanks again........
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  #6  
Old 09-19-2006, 04:04 PM
andy_traps andy_traps is offline
Junior Member
Priority Date
:
Aug-05
Category
:
EB2
I140 Mailed Date
:
10/18/2005
Chargeability
:
India
Processing Stage
:
I-485
I485 Mailed Date
:
08/12/2007
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Default

Cagedcactus,

To qualify for EB5 visa you'll have to:

1. Invest $1,000,000 and hire 10 US citizens or permanent residents anywhere in USA.

OR

2. Invest $500,000 and hire 10 US citizens or permanent residents in an area where the unemployment rate exceeds the national average unemployment rate by 150%.

OR

3. Invest in a Regional Center (5000 EB5 visas are available annually for those who invest in INS-designated Regional Centers).

Regarding the investment:

1. You must show documented evidence of the source of capital.
2. If you are accepting the capital from a cousin then it can't be accepted as a gift -- it must shown as a loan (which means that you'll have to pay him/her interest).
3. Your capital must be "at risk" without guarantees or redemption rights. This is very important and you must fully understand what "at risk" investment means before going down this route.

Finally, if you choose to go this route then make sure you:

1. Select a lawyer who specializes in this area. There used to be a Yahoo! groups forum related to EB5 visas last year. I don't know if it is still active.

2. Make sure you read about the EB5 case denials -- they are available online. There is considerable risk involved in qualifying under EB5 visa. Remember that the visa/GC is "conditionally" granted for 2 years. At the end of 2 years the conditional visa/GC can be converted into permanent residency. The EB5 denial cases will tell you under what circumstances USCIS did not allow the conversion into permanent residency.

Good Luck
Andy
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