Question:
I am planning a direct investment in a franchised restaurant in a TEA. Does the investment need to be made prior to I-526 petition approval and therefore prior to entering the U.S.? It does not seem possible to start a business in the U.S. from outside the country. Further, how could it be sustained without its sole operator during the time required to get all approvals?
Answers:
The general rule is that the investor must have invested the required amount of funds ($500,000 if in a TEA), or be in the process of investing. Being “in the process” can be done by placing funds into escrow.
Planning for an EB-5 investment requires consideration of timelines, goals, and business necessities, which is why retaining US immigration counsel that is experienced with all matters of the EB5 program (like the attorneys at our law firm) is highly recommended!
Investing in a franchised restaurant is possible but an early decision has to be made of the details of who can operate the restaurant while you are waiting for the I-526 petition to be approved and then Conditional Permanent Residency to be issued which in total may take over 12 months.