03 Mar Announcing e-Council Inc.’s NEW Animated EB-5 Explainer Video!

e-Council Inc. is thrilled to announce the launch of our new animated explainer video, “The EB-5 Process Explained.” This awesome resource is conveniently located on our home page. Our goal in creating this video is to guide you through the complex EB-5 maze in an entertaining and easy-to-understand format. This video is great to share with friends and colleagues who have inquiries regarding EB-5. Chances are, someone you know is looking to expand or start a business in the U.S., and EB-5 may be just the recipe to help them raise the necessary capital to turn their dream into reality.

The EB-5 process explained

The animated video features two business owners, Marco and Sophie, who need capital to pursue their exciting new ventures. Marco owns a bistro in NY and wants to open another location, while Sophie is looking to build a new hotel. In just a few minutes, the video demonstrates how they can both raise significant capital from foreign investors through the EB-5 program. (The EB-5 program encourages foreign nationals to invest in job-creating U.S. business projects in exchange for U.S. lawful permanent residency.)

Using Marco and Sophie as examples, the narrator describes how e-Council Inc.’s team of highly-experienced professionals can walk business owners through the otherwise complicated process of raising foreign investor capital.

The main steps to obtaining EB-5 funding include:

Step 1: Assess EB-5 Readiness and Project Viability

At the outset, e-Council Inc. will conduct a viability assessment to make sure that the project is “EB-5 ready.” This assessment includes:

• A jobs analysis to ensure the creation of ten full-time jobs within two years of a foreign investor’s obtaining lawful permanent residency.
• A comprehensive market study to establish whether the proposed project is likely to gain market share by leveraging unmet demand. The study will also identify potential market obstacles and socio-economic conditions that can enhance or hinder the venture.
• A TEA analysis to determine if the project falls into a Target Employment Area,[1] in which case business owners only need to raise $500,000 per investor, as opposed to $1,000,000.
• An assessment of the management team, to determine if the leadership team has a solid and consistent track record in the field, as demonstrated by their years of experience, professional backgrounds, and successfully completed projects.
• An initial financial assessment to analyze the project’s capital structure and other critical financial information to determine financial viability and marketability to investors.

Step 2: Select an EB-5 Track

Once e-Council Inc. has qualified the project for EB-5 readiness, our team will help the business owner decide if EB-5 funding should be pursued as a direct investment or through a regional center.  The latter allows business owners to pool capital from multiple investors into a fund and to count indirect jobs, such as delivery people and construction workers. Identifying which of these two tracks to follow is a vital step in pursuing EB-5 funding, as it determines which types of documentation must be submitted to USCIS.

Step 3: Develop and Compile Documentation

Once the appropriate EB-5 track has been chosen, e-Council’s team of experienced professionals and carefully selected strategic partners will develop and compile all of the necessary documents and reports required for USCIS submission. Most importantly, we will create a Matter-of-Ho-compliant[2] business plan that has the best possible chance of passing USCIS’ intense scrutiny.

Step 4: Submit Documents to USCIS for Provisional Approval

After e-Council Inc. has put together a top-quality EB-5 package, the business owner’s immigration counsel will submit the requisite documents to USCIS for provisional approval (similar to pre-approval).

Step 5: Raise EB-5 Funds

Once the project has received provisional approval, a licensed broker dealer can begin finding and securing foreign investors for the project. Each investor will need to file an I-526 petition[3] to qualify for a conditional green card.

Step 6: Build Business and Create Requisite Jobs

Now, it’s finally time for the business owner to build his or her business and create the requisite number of jobs. Two years after obtaining their green cards, investors must file an I-829 petition[4] to remove conditions on their lawful permanent residency.

e-Council Inc. is your “one-stop EB-5 shop,” helping you navigate the steps necessary to raise capital from foreign investors for any qualifying business. We will help you easily and painlessly navigate the complex EB-5 process and ensure your greatest chance of success.

To inquire about our Due Diligence Assessments or to choose from a wide range of complementary EB-5 services such as our best-in-class Matter of Ho-compliant business plans, please contact us at info@ecouncilinc.com.

e-Council Inc.’s website, newsletter and other forms of communication contain general information about legal matters. The information is not legal advice and should not be treated as such. You must not rely on the information on this website as an alternative to legal advice from an attorney or other professional legal services provider. For specific questions about any legal matter please consult with an attorney or other professional services provider.

[1] A TEA is defined as an area that, at the time of investment, is either a rural area as defined by the statute or an area that has experienced unemployment of at least 150 percent of the national average rate. In order to qualify for the reduced minimum investment of $500,000 instead of $1 million, projects must be located in and principally doing business in a TEA. Maps and census data can be used to demonstrate the rural status of a particular city, whereas a TEA designation letter issued by state government agencies can support the status of areas facing high levels of unemployment.

[2] Matter of Ho is a 1998 precedent decision issued by the Administrative Appeals Office that set forth the requirements for an EB-5 compliant business plan.

[3] The I-526 Immigrant Petition by Alien Entrepreneur is filed by the EB-5 investor to demonstrate that he is in the process of investing, or has already invested the required amount of capital in a suitable EB-5 project. For more information, see http://www.eb5investors.com/visa-information/i-526-petition.

[4] The I-829 petition is the final step of the EB-5 visa process for immigrant investors to become lawful permanent residents of the United States. The I-829 petition includes evidence that the immigrant investor has successfully met all United States Citizenship and Immigration Services (USCIS) requirements of the EB-5 program. Once the I-829 is approved, the investor’s conditional residency restriction is removed so that the investor, his spouse and unmarried children under the age of 21 can live in the United States permanently. For more information, see http://www.eb5investors.com/visa-information/i-829-petition.