E2 to other Visa?

[24/7]

Does anyone know about changing from E2 to maybe EB5 (or other)so that there is then a path to a greencard?

Thanks

[charliesmum]

There is no problem getting an EB5 while you are on an E2 - you just need the half a million dollars to invest and have at risk.

I know two people that have done this successfully - saw the Green Card of one of them and was very jealous.

I keep doing Lotto and the Powerball and crossing my fingers.

Zoe

[dip your toe]

There is no problem getting an EB5 while you are on an E2 - you just need the half a million dollars to invest and have at risk.

I know two people that have done this successfully - saw the Green Card of one of them and was very jealous.

I keep doing Lotto and the Powerball and crossing my fingers.

Zoe

Following on from that Zoe. If your E2 business is worth 500k plus could you borrow on that basis to apply for an EB5, or would that put the staus of the E2 in jeopardy? Alternatively, and I can't understand why this is not part of the E immigration process, why can't an E2 business that has grown in value that it would be classified as an EB5 investment if sold, not be given EB5 rights i.e. green card.

Carrot and stick.

[Ed Tha Brit]

There is no problem getting an EB5 while you are on an E2 - you just need the half a million dollars to invest and have at risk.

I know two people that have done this successfully - saw the Green Card of one of them and was very jealous.

I keep doing Lotto and the Powerball and crossing my fingers.

Zoe

Me too Zoe,

Don't forget your friends?:hug:

Have a nice Day

Ed Tha Brit

[kirtida8]

Following on from that Zoe. If your E2 business is worth 500k plus could you borrow on that basis to apply for an EB5, or would that put the staus of the E2 in jeopardy? Alternatively, and I can't understand why this is not part of the E immigration process, why can't an E2 business that has grown in value that it would be classified as an EB5 investment if sold, not be given EB5 rights i.e. green card.

Carrot and stick.

You can borrow most of the funds for an EB-5, but it would have to be against your own assets - ie personal property or your business overseas and you need to show the paper trail for the funds. Converting your E-2 business would mean that you invested the full EB-5 amount - and that is $1m in most cases unless you can get workforce USA to designate your area to be regional center - over and above the initial investment for your E-2, hence most people find it difficult to do.

[dip your toe]

Thanks Kay.

Two quick scenarios for you.

a) If my business was worth over $1 million ( pre CGT and/or after CGT ) could I convert that to an EB5, or would I have to release the capital by borrowing against the assets and, this sounds stupid, but my own business????

b) If the real estate of the business of the business is owned privately, could I release the equity in the business by borrowing against it and apply for an EB5, again to purchase my own business.

The CGT issue confuses me as obviously, if this route was a possibilty and I had to 'buy' my own business, I'd prefer to use a 1031 exchange than pat CGT.

[24/7]

Thats more the route that I was thinking of. If the company has grown to a point where it meets EB5 criteria, does anyone have any experience or know of anyone that has done this and changed visas, and is it even possible??

thanks

[JulieC]

Wasnt Peter investigating the growing company idea a while ago and then we heard no more about it???

I must say I have known two people with decent businesses go from E2 to EB5 and in both cases they sold or refinanced their US homes to raise the $500,000. I feel sure if they could have borrowed against their businesses they would have done so. Both had been here on E2 for ten years plus and were very savvy people.

[peter gold]

It is possible but very difficult and I would recommend a savvy EB5 atty like Evan Stone in California who is the expert on these visas

[Bayfield]

If you are looking at 500k then it has to be one of the special schemes. So you need the cash. How you raise it, borrow on business, borrow on house, borrow on 401k write a cheque! would be up to you.

Converting your business into an EB5 needs more money.