New Commercial Enterprise

Evidence that you have invested in a “for profit” new commercial enterprise, which is a commercial enterprise:

• Established after Nov. 29, 1990, or
• Established on or before Nov. 29, 1990, that is:
  1. Purchased and the existing business is restructured or reorganized in such a way that a new commercial enterprise results, or
  2. Expanded through the investment so that a 40-percent increase in the net worth or number of employees occurs

Evidence, if applicable, that your new commercial enterprise has been established and is principally doing business in a targeted employment area (TEA).

Managing the New Commercial Enterprise

 Evidence that you will be actively involved in the management of the new commercial enterprise (day-to-day or through policy).

Evidence that you have invested or are in the process of investing the amount required ($1 million or $500,000).

Evidence that the investment funds were obtained through lawful means. Evidence that the capital used was legally acquired may be demonstrated by the following:

• Foreign business registration records
• Personal and business tax returns, or other tax returns of any kind filed anywhere in the world within the previous five years
• Documents identifying any other source of money
• Certified copies of all pending civil or criminal actions and proceedings, or any private civil actions involving money judgments against the investor within the past 15 years

Evidence that the new commercial enterprise will create at least 10 full-time positions—not including yourself, your spouse, sons or daughters, or any temporary or nonimmigrant workers, or individuals who are not authorized to work in the United States. You will need to submit a comprehensive business plan showing that, due to the nature and projected size of the new commercial enterprise, the need for not fewer than 10 employees will result. Include approximate dates, within the next two years, and when each employee will be hired.

* Note: Regional center-affiliated cases must show that the capital investment was made in accordance with the regional center’s business plan in order to be credited with the creation of indirect jobs.

The same evidence which is mentioned above for job creation except instead of the evidence that the business will create at least 10 new jobs, you must submit evidence that:

The number of existing jobs is being or will be maintained at no less than the pre-investment level for a period of at least two years. Photocopies of tax records, Forms I-9 (Employment Eligibility Verification), or other relevant documents for the qualifying employees and a comprehensive business plan shall be submitted in support of the petition.

* Note: To be approvable, at least 10 jobs must be maintained.

* Note: Regional center-affiliated cases must show that the capital investment was made in accordance with the regional center’s business plan in order to be credited with the preservation of indirect jobs.

Investment

Evidence that you in fact invested in a new commercial enterprise. This evidence may include, but is not limited to, copies of the business’ organizational documents and federal tax returns.

Evidence that you have invested or are actively in the process of investing the total amount of required funds.

Evidence that you have sustained your investment in the new commercial enterprise throughout your two-year period of conditional permanent residence. This evidence may include, but is not limited to, the following:

• Business invoices and receipts
• Bank statements
• Contracts
• Business licenses
• Audited or reviewed financial statements.
• Complete copies of federal or state income tax returns or quarterly tax statements

 Job Creation

 Evidence that you created or will create within a reasonable time 10 full-time jobs for qualifying employees. Such evidence may include, but is not limited to:

• Business payroll records
• Relevant tax documents
• Employee Forms I-9

The same documentary requirements for job creation mentioned above, except that the investor must show that he or she has maintained (not created) the number of existing employees at no less than the pre-investment level for the period following his or her admission as a conditional permanent resident.

*Note: To be approvable, at least 10 jobs must be maintained.

*Note: Regional center-affiliated cases must show that the capital investment was made in accordance with the regional center’s business plan in order to be credited with the preservation of indirect jobs.