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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

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    Answered on

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

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    John J Downey

    Answered on

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

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    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.

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    Answered on

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

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