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What type of gifted capital is eligible for EB-5?

I have several wealthy friends who would like to gift me $1 million-plus to start my corporate business. Could I use this money to file for my EB-5 visa or is it only valid from my immediate family members? Is gifted capital from very distant relatives eligible for EB-5?

Answers

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    Ying Lu

    Immigration Attorney
    Answered on

    Theoretically, any gifted money can be used on EB-5 as long as the donor can reasonably explain the source of the money that is gifted to you. Though you can use gifted money from distant relatives or friends, I will suggest you bring up a credible reason why those people would like to "gift" the money to you. $1 million is a large amount of money. Please consult an experienced attorney for case-specific advice on the source of funds issue.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    It is possible, but all sources and transfers would still need to be carefully reviewed for compliance.

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    Julia Roussinova

    Immigration Attorney
    Answered on

    Lawful gifts may be received from any person, not necessarily just your immediate or distant relatives. Gifts must be properly documented and the donors'' (persons making a gift to you) source of funds must also be documented as lawfully obtained.

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    John J Downey

    Immigration Attorney
    Answered on

    As of now, I believe a gift is OK, but be prepared to show their source of funds.

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    Ed Beshara

    Immigration Attorney
    Answered on

    Gifted capital can be used as the personal funds of the EB-5 investor. The investor usually has to be an accredited investor. The source of the gifted funds can be relatives or friends.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    Any lawfully-obtained capital may be gifted as part of the EB-5 investment. There is no requirement that the donor be an immediate family member or even a relative. The donor must provide evidence that the donated capital was lawfully obtained.

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    Vaughan de Kirby

    Immigration Attorney
    Answered on

    Generally a gift accompanied by an Affidavit of Gift is permissible; however you should meet with your attorney and discuss all aspects of this question as to the source and path of your investment funds.

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    Karen-Lee Pollak

    Immigration Attorney
    Answered on

    Any gifted capital is sufficient as long as you are able to show the source of funds - in other words, you are able to prove that each person who gave you funds received it legally. You have to satisfy the question, "How did the donor obtain these funds that are gifted to you?"

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    There is no limitation or restriction on who may gift to an investor. However, since the Source of Fund tracking must also include how those friends and family had obtained the money legally, it necessarily opens those peoples'' financials to scrutiny on tracking legal source of funds. Thus, your friends who are generous enough to make those gifts must understand and agree to showing their tax returns, bank records and other documents that must be tracked for filing EB-5 cases.

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