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How does the EB-5 process play out for citizens of Paraguay and Argentina?

I am an investor interested in the EB-5 program and I was wondering what the process was like for citizens of South America, specifically Paraguay and Argentina? What documents do I need to compile?

Answers

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    The same as an investor from every other country (except China). The documentation needed for your source of funds depends on you; not your nationality, but your specific financial situation. To be fair, some countries have fund transfer restrictions, which an experienced immigration attorney would look into.

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    Julia Roussinova

    Immigration Attorney
    Answered on

    The EB-5 process is the same as for any other country and there is no immigrant visa backlog as for Chinese nationals. You need to demonstrate a lawful source of funds at I-526 filing stage. Documents are case specific as they will depend on your source of funds for EB-5 investment. You should hire an experienced EB-5 immigration attorney to help you through the process and file your case.

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    There are no specific rules for citizens of Paraguay or Argentina. Citizens of both countries just need to fulfill the standard EB-5 requirements: First, an investment of the required amount, either $500k or $million depending on the location of the project. Second, proof that the investment funds are from a legal source(s). Third, each investment must result in the creation of 10 jobs. Advisably, consult an EB-5 attorney on how to address these issues and evaluate your EB-5 opportunity.

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    Charles Foster

    Immigration Attorney
    Answered on

    Citizens of Paraguay and Argentina would participate in the EB-5 program just as anyone else in the world would. There is absolutely no difference except for the fact that, unlike individuals born in China, there is no backlog under the quota for any other nationality. Thus, an interested investor wanting to obtain Lawful Permanent Residency (or so-called "green card" status) by making an EB-5 investment, would have to make the very basic decision of whether they want to make a direct investment or, as most people do, invest in an EB-5 Regional Center project. Once you have made that decision, you will have to comply with appropriate documentation showing a lawful source of funds for the minimum investment amount of $500,000, which could be increased significantly at any time by U.S. Congress. Thus, it is better to make that decision sooner rather than later and to file your EB-5 petition on Form I-526 at the earliest possible date.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    The nice thing about being a citizen of Argentina and Paraguay is they do not have the waiting line problem that Chinese nationals do. Most cases can be completed in about two years for the conditional green card. The documents to prove lawful finds are the same as any other country. Tax returns are always best but any document verifying lawfully earned money can be used to show a lawful source of funds.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    The documents you need to file are the same as any other country. Are you filing in a Regional Center or stand-alone project? The Regional Center program is ending April 28 unless extended by Congress.

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    The EB-5 process is the same for everyone regardless of where they are from. The evidence showing the legal source of funds will depend on how you procured the funds: accumulated salaries and earning; mortgage or liquidation of real estate; liquidation of stocks and other investments; etc. If you are using your assets, you must also prove how you acquired those assets in the first place. You will need to show minimum 5 years of tax returns of income, capital gains, and gift taxes being paid. If you do not have these documents, an audited financial statement can show your income and net worth. USCIS is no longer stopping at 5-10 year period of financial activities, but asking for more and more documentation, which will vary for each investor.

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    BoBi Ahn

    Immigration Attorney
    Answered on

    There are no specific restrictions or requirements for nationals of Paraguay or Argentina. You must also show requisite capital investments have been made to a new commercial enterprise, that those funds came from a lawful source, that the funds created 10+ jobs, etc.

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    Stephen Berman

    Immigration Attorney
    Answered on

    The same as any other country.

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