I have purchased an existing building with an SBA loan. The loan is currently not in default, but we have entered into an agreement to refinance the lender out of the deal. The total project will be $6.5 million of which we have $1.5 million already invested. We are planning to build an entertainment complex and would like to use EB-5 funds to take out the lender and complete the construction. Can we use EB-5 funds for this and if so how much?
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I am from India and plan on filing an I-526 petition. I have learned that it will take nine months to approve. My plan is to apply I-526 by visiting the U.S. because my children are on F-1 visas and my wife is on a B-1 visa. I am a medical practitioner and need to be in home country as early as possible, so my question is how many days I have to stay in the U.S. after filing the I-526?
My I-526 has been approved, but I have not yet undergone consular processing, and thus still am not in the United States. When exactly will I be expected to pay U.S. taxes? For example, will it be as soon as I am interviewed by the consulate, or once I receive my immigration visa in my home country (but have not yet entered the United States), or after I enter the United States with my immigration visa?
We have a few potential investors for a direct EB-5 project. However, we feel the project would be more attractive if investors were allowed to make the investment in 10-20 installments totaling $1 million dollars, so that they could begin sharing profits from the beginning. Is it possible for the EB-5 investment to be made in installments? At what point during the immigration process does the full investment have to be completed?
Question: What are the rules for short-term investments in funds not related to the NCE or JCE?