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How can I invest Indian funds?

I am currently in business in India and want to invest in the US, to get EB-5 visa I am selling my property which is gifted by my mother to me. After RBI guidelines limiting direct foreign investment to $75,000, I can still hear that investment is still possible but no one is willing to explain. Can anyone guide me in arranging my funds and invest it legally into US? Is there any CPA or lawyer in India whom I can meet personally meet and discuss my case?

Answers

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    Reza Rahbaran

    Immigration Attorney
    Answered on

    USCIS accepts certain methods of transferring money. An experienced EB-5 immigration attorney will best address your concerns.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    The process can be complicated. It is best to consult with an experienced EB-5 immigration attorney to answer these questions.

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    Ebiho Ahonkhai

    Immigration Attorney
    Answered on

    Our firm has advised many Investors who derived their EB-5 investment funds by gift. The documentation that you require will depend on the precise nature of the gift. If your mother purchased the property on your behalf, you will need to obtain documents showing the source from which she earned the income used to purchase the property and showing that she earned enough income to purchase the property. You will additionally need to provide ?transaction documents? proving that your mother bought the property on your behalf. In similar cases, we have asked clients whether they are named on the deed or title to the gifted property, or whether Investor and the person making the gift entered into a Gift Agreement concerning the property. As you are contemplating the sale of your property, you will similarly need to document such sale. We have advised several Investors in cases where the home country has limitations on direct, foreign investment and are happy to offer you a brief complimentary telephone consultation to discuss your options.

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    Shahzad Q Qadri

    RC Creator
    Answered on

    Unfortunately, that would be something you need to explore locally as only a local lawyer may be able to explain the RBI an currency exchange regulations. While there are other ways, we would need more details. Feel free to contact us regarding the issue.

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    I recently heard from another client from India that currency exchange rule has changed and you could wire up to $200,000 per person per year. If this is not the case, you could still find friends and family to whom you could ask to wire the maximum to consolidate the necessary funds.

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    Ed Beshara

    Immigration Attorney
    Answered on

    Of course once your personal funds are out of India you can invest in an EB-5 project. The USCIS has accepted various legally recognized means to get your funds out of India into your personal bank account. Our law office has represented many clients from China and India in which their countries have currency transfer restrictions.

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    Jian X Kang

    Immigration Attorney
    Answered on

    Most U.S. immigration attorneys are not familiar with any foreign currency restrictions in other countries. The best way is to work with professionals in your home country to figure out a way to remit your funds out to U.S. and properly document the chain of funds transfers at each step as the USCIS will require you to provide such evidence. If you have any questions or concerns about this matter, please feel free to contact me.

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