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How can we help finance our son's EB-5 investment?

Our son is in the United States on a work visa. He has decided to apply for an EB-5 green card by investing $500,000. Can he, as the EB-5 applicant, acquire the required amount by way of a gift from parents and family members in India? Is it admissible if, we, as his family members raise part of the required amount as a loan from banks against our free-hold, unencumbered assets like gold, land or a house?

Answers

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    Charles Foster

    Immigration Attorney
    Answered on

    Yes, you can qualify by investing $500,000 normally through a regional center and can demonstrate a lawful source of funds - the fact that the parents made a gift of the amount. You would also have to demonstrate the manner in which the $500,000 was earned by the parents. If the required amount is a result of a loan from a bank, you would have to show that your parents collateralized the loan, as indicated in your question, by unencumbered assets like gold, land or a house.

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    Julia Roussinova

    Immigration Attorney
    Answered on

    Yes, currently gifted funds from any person may be used for EB-5 investment. Proposed legislation limits funds to certain close family members. Loan proceeds may be used if the loan is secured by personal assets of the EB-5 investor.

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    Marisa Casablanca

    Immigration Attorney
    Answered on

    An individual may invest funds that are acquired through a gift into an EB-5 project. Any funds raised must be based on personal collateral.

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    Kyle Barella

    Immigration Attorney
    Answered on

    An investor can fund his/her EB-5 investment by way of a gift. This is acceptable. If an investor is obtaining a loan, the money must be secured on the personal assets of the investor.

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    BoBi Ahn

    Immigration Attorney
    Answered on

    An EB-5 investor's source of funds can definitely be from a family/friend's gift or loan. In either case of gift or loan, you must show how the family/friend obtained his/her money and be able to show the legitimate source of those funds (i.e., salary, bank loan document, house sale, etc).

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    Lynne Feldman

    Immigration Attorney
    Answered on

    That should work.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    Presently gifts can be from anyone; however, the new law will restrict gifts to close nuclear family members. Also, any gift has to be secured by adequate collateral.

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