+1-800-997-1228
Questions & Answers

What restrictions are there on administrative costs and ancillary fees associated with the EB-5 visa?

I am an India-based potential applicant to the EB-5 Immigrant Investor Program. I am currently evaluating an EB-5 regional center investment. Regarding my source of funds, I do not anticipate a problem since the funds are clean and their sources have been audited. However, the Indian federal bank (RBI) places a restriction of $500,000 ($250,000 + $250,000 dependent) per FY that can be transferred out of the country. Given this fact, what restrictions might I encounter if I would like to pay administrative costs, attorney fees, etc. to an account in India, so I do not overshoot the permissible currency transfer limits?

Answers

  • Avatar

    Julia Roussinova

    Immigration Attorney
    Answered on

    Even though under current law it is not required to prove lawful source of funds for the regional center project subscription or syndication fee, we have seen USCIS inquire into that. Thus, the best practice is to demonstrate the lawful source of funds for the subscription or syndication fee, as well.

  • Avatar

    Charles Foster

    Immigration Attorney
    Answered on

    Being able to pay your administrative and legal fees from the account in India would depend on the other parties involved, and if those parties have an appropriate account to which such funds could be transferred.

  • Avatar

    BoBi Ahn

    Immigration Attorney
    Answered on

    For EB-5 purposes, any administrative fees/costs cannot count toward the minimum, required capital investment of $500,000 (amount if the project is in targeted employment area). If your home country has restrictions on money transfer per FY, then as far as EB-5 regulations are concerned there are no restrictions on paying the administrative cost to an account in India, as long as the parties are in agreement for such payment.

  • Avatar

    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    One must always seek to comply with local and U.S. currency laws. Many programs have flexibility to accommodate admin and legal fees. However, we have seen trends where USCIS does want to see admin fees adequately sourced.

  • Avatar

    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    It is advisable to demonstrate the lawful source and path of funds of both the EB-5 investment capital and administrative fees, even though the current regulations/law governing EB-5 do not require it. Proposed changes to the EB-5 law would require that an investor provides the lawful source of funds for the admin costs/fees.

Add your comment

Use a Facebook account to add a comment, subject to Facebook's Terms of Service and Privacy Policy. Your Facebook name, photo & other personal information you make public on Facebook will appear with your comment.