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How can an Indian immigrant investor transfer funds more efficiently?

I want to invest through a regional center. I am from India and the remittance amount allowed is $75,000 per year. What are methods used by Indian eb-5 applicants to transfer the necessary $500,000 dollars? Can I open a bank account in the United States and transfer money yearly until I have a sufficient amount for investment, or is there another way for paying a regional center?

Answers

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    Reza Rahbaran

    Immigration Attorney
    Answered on

    There are a few ways to transfer the funds from India to the United States. Please consult an attorney to further discuss your matter.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    For investors from other countries with similar restrictions, you may be able to gift the money to family and friends, who transfer the money to your U.S. account for you. Retaining qualified EB-5 counsel, like our law firm, will help you with the authentication of the source and transfer of funds.

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    Ed Beshara

    Immigration Attorney
    Answered on

    The EB5 investor will have to comply with the laws of the home country in transferring the required personal funds out of the home country. As there is a yearly maximum the EB5 investor may use intermediaries to transfer the yearly maximum funds out.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    Indian currency regulations are very strict and you should consider transferring $75,000 annually as the most conservative route.

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    As the limitation is $75,000 per person per year, many of our clients will have their spouse, children over 18 and other relatives wire funds for them. Of course, these money movement from your bank account to those relatives' accounts then to your account in U.S. must be tracked carefully.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    You can certainly make the yearly transfers, but that is not very efficient, as it will take 7 years to complete. For other options, you should consult with an experienced EB-5 immigration attorney, such as myself, who can advise you on all of the requirements for documenting both the lawful source of funds as well as the path and flow of the funds from you to the new commercial enterprise.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    In many cases investors use friends and family to assist in transferring the money more quickly and then documenting that these are your funds. There also may be less constraints on transferring business to business.

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    Rohit Kapuria

    Immigration Attorney
    Answered on

    The $75,000 remittance restriction is a new one. P. Chidambaram had last mentioned that he hopes this will be a temporary cap and that the RBI would return to its previous $200,000 limit. Regardless, most Indian investors tend to make the transfers through friends and family. Therefore, if you have sufficient funds, you would ask 7 friends/family members to transfer $75,000 on your behalf. Prior to moving down this path, however, I recommend you speak with an EB-5 attorney to determine whether your source of funds is clean and would not cause any potential problems with USCIS. The key is that these funds must be "white" money.

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    Margo Chernysheva

    Immigration Attorney
    Answered on

    You can open a bank account in US or abroad (where you can do so without restrictions of transferring large amounts to the US) and at the end transfer the amount into the RC's escrow account. Just make sure the account is under the name of the investor and all transfers can be traceable and you have all the paperwork to show where the money comes from.

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    Kripa Upadhyay

    Immigration Attorney
    Answered on

    Hello: India is one of the countries that has strict laws that govern transfer of funds outside the country. In the past, I have worked with clients who came to the United States on pleasure or business trips and were able to bring in small amounts every time they entered and deposit funds into an account in the U.S. Others have used the assistance of family and friends to transfer amounts outside the country. Be advised that the Indian Government does not seem to allow for any exceptions so there is no "easy" way to get the funds you will need to the U.S. The above process I describe has worked for prior clients, but it has taken them several months to get the funds together.

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