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What are the sourcing requirements for the EB-5 admin fee?

We are an EB-5 regional center. Do investors in our project need their immigration attorneys to document the source and path of funds on their admin fee or just the $500,000?

Answers

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    Neither the law nor the regulations require a petitioner to document the source of funds for any administrative fees. In fact, the EB-5 law does not contain any source of funds requirements (only the regulations do). For best practices, however, it is recommended that evidence be submitted documenting the entire source of the investor's funds "invested" or submitted to the new commercial enterprise, particularly if the investment capital and the admin fee are sent together at one time from a single account to the escrow account or NCE operating account.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    From my observation, there seems to be a split among attorneys. Some proof may be required, but not as much as a full authentication as is done with the investment amount.

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    Charles Foster

    Immigration Attorney
    Answered on

    While the investor is only specifically required to document the source and path of funds for the $500,000 investment and not the administrative fee, if paid together, the best practice is to be able to show lawful source of funds for all invested/paid funds.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    Currently, there is no requirement to prove lawful source of funds for the administrative fee. However, at least one of the proposed EB-5 bills would require it.

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    John J Downey

    Immigration Attorney
    Answered on

    Just the $500,000 investment.

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    Raymond Lahoud

    Immigration Attorney
    Answered on

    It is best to source all of the funds. Crucial, however, is the sourcing of the investment funds.

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    Richard A Gump, Jr

    Immigration Attorney
    Answered on

    From an immigration standpoint, USCIS is likely not concerned about the sourcing of the administrative fees. There may be other regulatory requirements (outside of the immigration context) that could affect the answer to your question.

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    Generally, it is in the best interest of all parties to ensure all relevant professionals participate in EB-5, including but not limited to, the immigration attorney. Otherwise, someone may be engaging in the unauthorized practice of law in the process. Advisably, always work with an attorney where one is needed in all areas of EB-5.

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    BoBi Ahn

    Immigration Attorney
    Answered on

    For verification of source of funds, only the invested amount for the EB-5 immigrant investor processing needs to be documented for EB-5 purposes.

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    Vaughan de Kirby

    Immigration Attorney
    Answered on

    Yes, you must document the source of all funds, including the administration fee.

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    Abhinav Lohia

    Immigration Attorney
    Answered on

    It is preferable that the source of funds for the administrative fee are documented as well. The administrative fee forms part of the subscription agreement making the investor qualified for the EB-5 visa; therefore it makes sense to prove the source of funds for the same.

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    Stephen Berman

    Immigration Attorney
    Answered on

    Just the $500,000.

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