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Question:

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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?

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Answers:

February 16, 2015 11:38 Ed Beshara

The facts you state imply that this is a direct investment into the the NCE which is also the job creating entity. The personal investment funds can be used to purchase real estate, used for renovations, and operations. Please remember there has to be a nexus between the use of the investment funds and the creation of ten new full time jobs for each investor.

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