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How can an investor with dual citizenship apply for the EB-5 program?

I am looking to invest in an EB-5 project in Miami. I currently have Venezuela/Spain dual citizenship. Are there different EB-5 requirements for Venezuelan applicants versus Spanish applicants? For example, will the costs and document procedures differ depending on which country I apply from? Is there any advantage to applying for EB-5 from Venezuela instead of from Spain, and vice versa?

Answers

  • Avatar

    Ed Beshara

    Immigration Attorney
    Answered on

    The EB-5 investor program is for every foreign national regardless of citizenship.

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    Julia Roussinova

    Immigration Attorney
    Answered on

    Your chargeability will depend on your country of birth generally. Requirements are the same for Spain and Venezuela, so it does not matter for EB-5 program purposes.

  • Avatar

    John J Downey

    Immigration Attorney
    Answered on

    There are no differences as far as the application is concerned. The only difference would be in the U.S. consulate where you would be interviewed for your visa interview. Different consulates have different timelines for processing these interviews. You might look them up on their internet sites to check their approximate processing times.

  • Avatar

    Jinhee Wilde

    Immigration Attorney
    Answered on

    There is no difference in EB-5 requirements from either Venezuela or Spain, as the source of fund tracking must be the same and the visa number availability is the same. Thus, you should use the citizenship where you live currently and have your assets and/or earning income.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    For the I-526 petition, you may have certain rules regarding transfer of funds outside of the country. Other than that, there may be differences at whichever U.S. consulate location you use for applying for the EB-5 visa, including costs and procedure. By retaining immigration counsel, you can be guided through the process.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    Proving source of funds from Venezuela can be more difficult than from Spain and generally I would choose Spain if presented with a choice.

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    Dale Schwartz

    Immigration Attorney
    Answered on

    There is no difference. It does not matter which of those two countries you are a citizen of.

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    Robert Cornish

    Securities Attorney
    Answered on

    As long as you are not a resident of China or Vietnam, it should not make much of a difference. Note, however, that one would expect more scrutiny over "source of funds" from Venezuela than from Spain, given Spain's status in the European Union and Venezuela essentially being outcast by the U.S. government in general. That could possibly speed your processing time up some.

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    Michael A Harris

    Immigration Attorney
    Answered on

    There are not different requirements based on citizenship. Source of funds will be your primary issue. So, if your source of funds is derived from income that was earned in Venezuela, then we will still have to contend with your Venezuelan records. Here in Miami, we see many of the issues that Venezuelans encounter as a result of currency restrictions. The choice between which passport to use may be a consideration if it is more convenient for you to obtain a visa interview in Spain or Venezuela.

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    Gregory Romanovsky

    Immigration Attorney
    Answered on

    The requirements are the same, so it does not matter what nationality you use in your EB-5 case.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    No, you will be counted based on your country of birth. Your case can be processed in either country.

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