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How can an EB-5 investment be made with U.S. gambling winnings?

If a person receives income from lottery/gambling in the United States while on a J-1/F-1 visa, would that person be qualified to invest in EB-5 with the winnings? Or would they need to hire an attorney to claim the prize money? If so, what documents would they need to prove the source of funds?

Answers

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    If the gambling was legal (lottery, Las Vegas or Atlantic City, etc.) then it is lawfully earned. The specific documentation would depend on the winnings.

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    Jimena G Cabrera

    Immigration Attorney
    Answered on

    Provided that the gambling winnings were legal and you paid the proper taxes, it should not be a problem.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    If the gambling winnings were legal, then you should receive a Form 1099-G and you would have other documentary evidence, such as a copy of the bank check, banks statements, etc. to prove that you received the funds lawfully. It is not unlawful for a person in J-1 or F-1 status to gamble legally in the United States, so I would advise that you certainly could use the winnings as part of your source of funds for your EB-5 investment.

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    John J Downey

    Immigration Attorney
    Answered on

    If you are in a legal status, you have every right to your gaming proceeds. You should collect them in your own name and ask for documentation from the gaming authorities to show you as the winner.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    If it is lawful to gamble, that money is lawfully earned. Make sure to pay tax. You need to trace the winnings.

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    Ian E Scott

    Immigration Attorney
    Answered on

    Lottery or gambling winnings do not constitute work. For source of funds, you could provide records from the casino or lottery that demonstrate the funds came from a legitimate source.

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    Participation in lottery/gambling in the United States are governed by a web of state and federal laws. They are legal sources of funds. However, the question is does the rule for participation in the lottery/gambling in question specifically bar non-U.S. residents/citizens from participation in the lottery/gambling? If the answer is yes, then the J-1/F-1 visa holder may not use the money for EB-5. On the other hand, if the answer is no, the J-1/F-1 visa holder may collect the winnings and even may use the money for EB-5 purposes. For further understanding of the rules governing lottery/gambling and their implications, consult an attorney before you proceed further.

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