+1-800-997-1228
Questions & Answers

What are the rules for using two escrow accounts for an EB-5 project?

Does USCIS have any rules or restrictions on the use of more than one escrow account for an EB-5 project? Since some banks have restrictions on certain countries, can we have two escrow accounts designated for a single regional center project with the same terms and conditions?

Answers

  • Avatar

    Julia Roussinova

    Immigration Attorney
    Answered on

    It should not be an issue as long as the EB-5 investors get full disclosure.

  • Avatar

    John J Downey

    Immigration Attorney
    Answered on

    Yes you may, but it will be up to the financial institution you select.

  • Avatar

    Salvatore Picataggio

    Immigration Attorney
    Answered on

    As long as there is full disclosure to all investors of the escrow accounts and procedures, multiple accounts could presumably be used. Escrow is not a requirement for EB-5, but many projects use these accounts. You can always have investors place their money directly in the New Commercial Enterprise, and avoid escrow and banks all together.

  • Avatar

    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    As long as this is fully disclosed in your documents, I do not see an issue.

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.