How can I qualify for the EB-5 program if I have not paid any income tax? - EB5Investors.com

How can I qualify for the EB-5 program if I have not paid any income tax?

I work for an oil company in Central Asia, and I hold a Canadian passport. For the last eight years I have been residing overseas and I have not paid any tax in Canada. My company pays a small amount of tax on my behalf to the local government. How can I qualify for the EB-5 program if I have not paid any income tax? Will I need to return to Canada before I can apply for an EB-5 visa?

Answers

Salvatore Picataggio

Salvatore Picataggio

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It will depend on your overall circumstances. You may be able to authenticate your source of funds with other information. An immigration attorney''s assistance will be very important for your process.

John J Downey

John J Downey

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No, just show your sources of the funds you wish to commit to your EB-5 project.

Lynne Feldman

Lynne Feldman

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Check with an accountant as to whether you should have paid taxes in either country. You will just have to show the lawful source of your funds. Taxes is one way to do it.

Ed Beshara

Ed Beshara

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First, you can reside in any country while you are petitioning and applying for conditional permanent residency based upon the EB-5 process. Second, the requirement for the investor is that you have to authenticate the legal source of the investment funds and this can be done without the use of income tax returns. If the country you are residing in and the country of your nationality are governed by international tax treaties which avoid double taxation and may minimize your tax obligations, then you may show you are in compliance with your foreign tax obligations.

Jinhee Wilde

Jinhee Wilde

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You will have to show the pay stubs from your work and a notarized letter from your company on how much your salary is and had been.

Fredrick W Voigtmann

Fredrick W Voigtmann

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Proof of lawfully-obtained capital includes income tax returns for the last five years only if such evidence is relevant to the source of the invested funds. If the source of your funds does not come from salary subject to tax, then your income tax returns are not relevant. If, on the other hand, the source of funds you plan to use for your EB-5 investment is subject to income tax, then you would need to show that you paid the tax. You should consult with an expert in Canadian tax law and you should co-consult with an experienced EB-5 immigration attorney who can advise you on the requirements.

Julia Roussinova

Julia Roussinova

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You will need to consult an accountant to determine if you had income tax reporting obligations as a Canadian citizen while residing and working outside Canada. If you had income tax reporting obligations to Canada but failed to file, then an accountant should be able to advise you regarding filing any required back tax returns. An accountant or tax attorney in a country in Central Asia where you received source of funds should be able to advise regarding any income tax reporting requirements locally. Please consult an experienced EB-5 practitioner to discuss the details of your case and advise you regarding lawful source of funds documentation.

Karen-Lee Pollak

Karen-Lee Pollak

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You can get records from your company showing your salary and documents showing you are exempt from paying taxes. Other evidence can include real estate, bank accounts and any investments you have.

Kyle Barella

Kyle Barella

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The answer depends on the Canadian tax system. Does Canada require you to file tax returns while living abroad? I would suggest you speak to a Canadian tax attorney who can answer your question. USCIS only expects to see tax returns that you were required to file.

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