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How far back do I have to prove my source of funds?

I would like to apply for an EB-5 visa. I have a question relating to how to document lawful source of funds. In 2006, I bought some stocks of a company, which pays dividend regularly. Total dividends count for around $200,000 since then. The company can give confirmation about paid dividends by request. In 2005, I bought land and if I sell it now I can get approx. $350,000. I want to use these sources for EB-5 visa application. My question is: do I have to document or prove lawful source before my stock and land purchase (2006 and 2005 years)? If yes, how far required to document lawful of source?

Answers

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    Reza Rahbaran

    Immigration Attorney
    Answered on

    USCIS may go as far back as they deem necessary to satisfy the source of funds. In your case, USCIS may want to know where the funds came from for the purchase of land in 2005 and the investment in stocks in 2006.

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    Shahzad Q Qadri

    RC Creator
    Answered on

    This is a difficult question, how far back depends on the officer adjudicating your case. While some may believe going back till 2005 is sufficient others may want more. As such I would be prepared to provide information going further back.

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    Jessica Marks

    Immigration Attorney
    Answered on

    You will need to document the source of money used to purchase stock or land. However, as it was 7 years ago, it may not be problematic if some documents are missing or unavailable. One important issue: because you received the dividends over the years, where the dividends went after you received them must be documented.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    You want to try to give as much relevant and consistent evidence as possible as to your lawful source of funds. The USCIS may want to see the "second layer" of the source of funds (how you earned funds used to buy the stock and the land). If primary evidence such as contracts, invoices, receipts, bank statements, tax records, etc. are not available, you should explain why they are not available (too long ago) and then submit secondary evidence such as declarations and any other documentation that might corroborate your statements and your source of funds. The standard of proof is that you much show a lawful source of funds by a preponderance of the evidence, which means you must prove that it is more likely so than not so. If you meet this standard, you should be fine.

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    Jeffrey E Campion

    Immigration Attorney
    Answered on

    Hello. You must be able to trace the source of your funds to purchase the stock and the land. With respect to "how far" it requires a detailed analysis that cannot be given without more facts.

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    Stephen Berman

    Immigration Attorney
    Answered on

    If you can show the source of funds for your stock investment, that should suffice.

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    Vaughan de Kirby

    Immigration Attorney
    Answered on

    You should work carefully with your attorney on this. Generally, yes you will need to demonstrate the source of the capital used to acquire the stock that gave you the dividend.

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    Ed Beshara

    Immigration Attorney
    Answered on

    The first step is to retain an experienced EB-5 attorney who can guide you with the preparation of the source of fund documents authenticating the lawful source. Requiring documents from 2006 should not be too difficult depending on your country of origin and of course depending on what is being asked for. If it is difficult obtaining first tier documents then we would request second tier documents which should be just as good.

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    Kripa Upadhyay

    Immigration Attorney
    Answered on

    You would need to document the purchase of the stocks; the dividend pay outs; the purchase of land (or if inherited, the proof of inheritance) and also documents for the subsequent sale of land. You should be prepared to document the entire source of funds i.e. where/how did you get the initial amount to invest in the stocks all the way through the purchase and sale of land. You would be well served in working with an attorney with experience in these matters who can guide you to make sure you have the requisite documents necessary as USCIS may deny if they believe there is insufficient documentation to prove the lawful source of funds.

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    Ebiho Ahonkhai

    Immigration Attorney
    Answered on

    The question presented suggests two distinct sources of funds: 1.) payment of dividends from stock and 2.) proceeds received in connection with the sale of real property, both of which require documentation. To establish that the portion of your investment funded by dividends was lawfully earned, USCIS will expect that you provide documentation of income earned during the period prior to the stock purchase. Similarly, you will require documentation that you earned sufficient income to effect the property purchase. Income Certificates from your employer setting forth your income, pay stubs and bank statements reflecting payments of salary, bonuses, or commissions, are examples of such documentation. With respect to the portion of the investment funds to be derived from $200,000 in dividend income, you should provide detailed bank statements reflecting the date of purchase, the initial deposit amount, and the accrual of income over time. A written statement of the entity issuing (and an explanation of the investment vehicle) such dividends will further support your I-526 Petition. Regarding the contemplated property sale, you should provide the transaction documents executed in connection with your purchase in 2005, for example, the purchase contract, sales invoice, title to the property and any tax payment certificate. Where such property is to be sold to finance your EB-5 investment, you should obtain a property appraisal from a certified appraisal company (assessing the open market value of the property shortly before the time of sale). Additionally, you should provide the transaction documents memorializing the sale of property and the payment to you of the property sale proceeds.

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    Ying Lu

    Immigration Attorney
    Answered on

    Yes. You need to prove the source of money that you used to purchase the stock and land.

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    Joseph Best

    Immigration Attorney
    Answered on

    USCIS has the right to look back as far as they like to be satisfied that the funds were from a lawful source. That said proof of initial funds invested should be sufficient but it depends where you attained those initial funds. While the growth of the funds invested is good to show, they will certainly be concerned with how you acquired the first part of the money with which you then invested. We would be more than happy to walk you through the process. If done correctly and carefully the EB5 program is a great way to attain lawful permanent resident status.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    You need to document the source of the funds actually used for the investment. If you were to only use salary, for example, you would have to show how you have accumulated the required investment amount throughout the number of years it would take to accumulate the amount. For specific instances (gifts, inheritance, sale of property or assets), you will need to authenticate the specific transaction and some other background matters. As experienced EB5 attorneys, we can assist and represent you to authenticate the source of investment funds.

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    Alexander Lebedinski

    Immigration Attorney
    Answered on

    Yes. You have to prove the original source of funds, that is, where and how you obtained the funds which you used to purchase the stock and the land. If these purchases were made with other investment proceeds, you have to go further back for proof of legitimate source of those funds. If you submit the petition without this information, you will most likely get a request for additional evidence.

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