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How can I set up a bank account to receive EB-5 funds?

I have a SSN and I had a H1B visa earlier when I used to work in the US. Now I am back in my country trying to setup some projects. My investors want me to have a personal US bank account for transactions. I will consider opening a company account later for official business purpose. Now I have a B1/B2 10 years visa which I wish to use for bank account opening and use it for receiving funds and to operate the same from outside USA to do projects outside of USA in my home country. It will be too early for me to pay for a EB-5 and the processing charges now till I don''t receive the capital for the project purpose. I will be frequently visiting the US but don''t wish to be a permanent resident. I don''t intent to be a permanent immigrant of USA as my projects are outside of USA. Is this feasible and if so what other things will I be required to comply without violating the laws of USA ?

Answers

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    Reza Rahbaran

    Immigration Attorney
    Answered on

    If you have no intent to become a permanent resident of the United States, then the EB-5 visa is not appropriate for you. You may be better suited for an E-2 visa. Please consult with an immigration attorney.

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    Shahzad Q Qadri

    RC Creator
    Answered on

    You should contact the Social Security Office to see if they will issue a SSN for banking purposes only, in the past they have been able too. But with new laws that may not be a feasible option, but it would be good starting point.

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    Julia Roussinova

    Immigration Attorney
    Answered on

    It appears EB-5 visa is not a good option for you as it requires that you reside in the US after receiving a green card. Please consult an immigration attorney to review other options for non immigrant visas with you to best suit your needs.

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    Lei Jiang

    Immigration Attorney
    Answered on

    I''m not sure if I understand your question. Has your project been approved by USCIS? You can open a bank account even if you are a foreigner.

  • Avatar

    Lynne Feldman

    Immigration Attorney
    Answered on

    I would speak to several banks in the area where you want to locate and discuss the requirements for opening an account, FDIC requirements for large deposits, etc.

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    Philip H Teplen

    Immigration Attorney
    Answered on

    The EB-5 is an immigrant visa. Certainly not what you want. Please call me so we can best discuss your options.

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    Ed Beshara

    Immigration Attorney
    Answered on

    Based upon your questions you definitely need to consult with an experienced EB-5 Attorney. Your proposed legal and financial infrastructures are not EB-5 compliant and may violate SEC regulations. It is imperative you spend a modest amount on Attorney fees to put you in the best position to move forward.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    Participating in the EB-5 program results in obtaining permanent residency. Obtaining permanent residency and then not living as a US permanent resident can cause many problems. Retaining a qualified US Immigration attorney can help a prospective immigrant develop a strategy (that may or may not include the EB-5 program!) to reach their US immigration goals.

  • Avatar

    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    EB-5 funds should not be received in a personal account. If you are going to receive EB-5 investor''s funds, you should have a company account (partnership, corporation, LLC).

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