What is EB-5, and why does it need an accountant?
EB-5 is a program created by the U.S. congress that is designed to enhance the U.S. Economy by way of bringing foreign investments into the U.S. – through investment and job creation by alien entrepreneurs who desire to get permanent residency (i.e. green card) for themselves (and their families).
For a successful EB-5 application, a team of professionals is needed, including an attorney, an economist, and an accountant.
The accountant obviously files all the required and necessary consecutive tax returns. Additionally, an expert accountant provides the following vital services – either directly, or through advising the applicant: planning for the process so that the taxation is minimized; choosing the most suitable form of business entity (sole proprietorship, corporation, etc.); evidencing the creation of the required number of jobs through record-retention documenting payroll records (including W-4’s and W-2’s, Employee Forms I-9) and other relevant tax documents; providing guidance for proper business and personnel planning; ensuring that various immigration forms are filed correctly and timely; defining dependents so that they legally qualify for inclusion; and acting as the coordinator among various individuals, companies, and government agencies involved to ascertain that everyone and everything moves in concert.