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Preeti Sinha

What can be counted towards the $1 million investment requirement?

If the new commercial enterprise requires a physical location for business operation, can the money used to acquire the real property count towards the $1 million requirement? For example, the NCE is a residential elderly care business. Can the money used to purchase the residential homes and subsequent renovation count towards the $1 million requirement?

Answers

Philip Cohen
January 06, 2016 10:28 AM  Philip Cohen

The short answer to your example situation is that yes, it is allowable, but as a general rule the acquisition of the underlying real estate should be integral to the business.

Raymond Lahoud
May 07, 2016 04:42 PM  Raymond Lahoud

Yes, the real property may be used towards the $1,000,000 investment. The underlying purchase must be sufficiently connected/necessary to the new commercial enterprise.

Marko Issever
December 08, 2018 11:03 PM  Marko Issever

Why not? As long as you are making an equity investment for the project that needs the real estate to operate that is all that matters.

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