What EB-5 source of funds documents should I gather to account for wealth earned from my online store?

To authenticate your lawful source of personal funds, your EB-5 experienced attorney will be able to advise and assist you. The source is the personal investment funds can be derived from your own business or the sale of your personal assets.

It is my opinion that, with an online store, you would have records of your online income transactions; including amounts deposited into your bank accounts.

Any lawful business activity could serve as a lawful source of funds for EB-5 purposes. You must show tax returns, bank statements, company business licenses, and other documents to demonstrate the lawful business activity and the path of the funds from the business to you personally. Typically, this would be in the form of bank-to-bank transfers or copies of canceled checks and bank statements showing the transactions.

One of your sources could be your tax return. Since you have to show the wealth you have accumulated by filing an annual tax return if you reside in the U.S. or abroad, that would be a primary source. Otherwise, you would have to provide documents from your accountant and bank deposits from your business into your bank account. You could also have your bank, accountant, law firm and other reputable third parties attest to the nature of your business and provide information regarding your approximate income.

Here are the basic government recommendations for this type of business: foreign business registration records, tax returns of any kind filed by you or on your behalf within the last five years in or outside the United States and evidence of other sources of capital. I would add financial statements, bank records, receipts and business licenses if any.

The account procedures for your online store should just be like any regular mortar-and-brick store: detailed accounting showing revenues and expenses in the operation of the business. Typically, your accounting records should reflect your annual operations. Advisably, consult an accountant and EB-5 attorney to ensure your business operation and accounting records are properly done.

The income of your online store will qualify as legally earned for EB-5 investment purposes. You will need tax returns and perhaps financial statements, and perhaps bank statements to show where the money came from.

Business and personal tax returns should show the income from this source.

You may use a PayPal account to document your online income. Any website, web hosting registration, contact information, etc. that will list you as the purveyor of the merchandise will also be necessary.

I would start with the evidence of business income in form of tax filings, as well as the evidence of your rightful receipt of that income.