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Can gambling income be used for the EB-5 program?

I earned most of my wealth through perfectly legal sports gambling activities in the EU where I am a citizen of. However, as this kind of income is considered tax extempt in my country, it does not appear on any tax statement. Can it still be used in the EB-5 application? Would a letter from the EU-regulated gambling company I did business with be enough proof?

Answers

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    Reza Rahbaran

    Immigration Attorney
    Answered on

    So long as there is proof of the lawful source of your funds and a money trail from the gaming accounts to your personal account through to the time that you send your funds into the EB-5 project account, there would be no reason why you would not be able to utilize these funds.

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    Julia Roussinova

    Immigration Attorney
    Answered on

    As long as there is appropriate documentation to prove and trace the lawful source of funds, you should be able to use these funds. You should contact a qualified immigration attorney to review and analyze your specific situation and give you appropriate recommendations what documentation to obtain in support of an I-526 petition.

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    Mahsa Aliaskari

    Immigration Attorney
    Answered on

    For any funds invested for EB-5 purposes, the requirement is to verify and document the lawful source of funds, this would include money earned through legal gambling. The key would be to comprehensively document that the gambling was legal, that no taxes are required to be paid. If the lawful source issue is properly addressed, then you need to document and trace the funds.

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    Roberto Ortiz

    Immigration Attorney
    Answered on

    We would need to get proof of all your gambling winnings and the letter that you mentioned.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    Probably, but the burden is on you to show that it is lawfully earned.

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    Stephen Berman

    Immigration Attorney
    Answered on

    As far as I am aware, only illegal gambling is excluded. And no, a letter from a company saying that you got your money from gambling will not be adequate proof of the source of your income. There must be some record of the transactions.

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    Shahzad Q Qadri

    RC Creator
    Answered on

    The key to the EB5 program is to paper the source of funds. Provided that the source is legal and you can trace the origin of how you earned the money, there should not be an issue. A letter along with the amount accumulated would probably help in addition to documentation showing that it is a legitimate source.

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    No, gambling income is not allowed to be used for EB-5 purposes.

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    Ying Lu

    Immigration Attorney
    Answered on

    I do not think that a letter from the EU-regulated gambling company you did business with will be enough proof. First, you need to provide documentation to prove that sports gambling is legal in the EU. Second, until you make the EB-5 Investment, you need to include documentation showing capital accumulated over time in a bank and that it has been maintained in this account. Third, it is highly likely that USCIS will ask you the legitimate source of the seed money, i.e. the money you used in the gambling. That could be very hard to trace if your gambling income was accumulated over the years. You should contact an experienced EB-5 attorney to have her/him give you some case specific suggestions after she/he knows more about your case.

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    Ali Farahmand

    Immigration Attorney
    Answered on

    Yes, I believe that would work. USCIS is mainly concerned with the issue of the Source of Funds and that the Source is from legal means. If you can show and prove that the gambling income is perfectly legal in your home country, and that all of the income belongs to you personally, then I do not see any problems using this income to fund your Investment with a Regional Center. Just make sure to obtain the letter and as much evidence as possible to prove that the gambling income is legal in your home country. I hope this is helpful.

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    Philip H Teplen

    Immigration Attorney
    Answered on

    It absolutely can be used for EB-5 investment. We just need to establish it as lawful. A letter as you propose, plus appropriate tax opinion, should work. I will be happy to help you.

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