Process of upgrade from E-2 to EB5
Could you please elaborate on methods an E-2 visa could later be converted to EB-5?
This is a great question. Many investors who come from countries that have the E2 treaty with the US have this question in their mind. E2 processing is fast and considerably cheaper than EB5 both from the required investment amount (unlike the case with EB5 there is really no set required investment amount in E2) so it is an attractive route for many investors who are eligible. If there is a possibility that the investors might want to use the funds that were initially used for the E2 to form the base of their future required EB5 investment, then those initial funds would have to be able to survive the onerous source of funds scrutiny of EB5. In addition, together with the new jobs that were created in the E2 business, the total number of jobs that will need to be created for EB5 is minimum 10. Many applicants are also under the impression that their business, when expanded, would qualify for the $ 500,000 reduced required amount. This might not necessarily be the case. They might find themselves having to up their investment to $ 1 million when the time comes for them to move to EB5. The economics, profitability of the business might just not allow them to make the move.
When looking at E-2 to EB-5, one major consideration is whether the two plans that will be submitted will be considered from the same point in time, or whether they will be treated as sequential. If they are to be treated as sequential, the second (EB-5 dtage) must build on the first stage. If new investment dollars are being added at stage two, there must be a 'nexus' (connection) between the new investment and the jobs that will be counted toward the qualifying EB-5 job count.
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