+1-800-997-1228
Questions & Answers

When can gambling earnings be used for an EB-5 investment?

I am a foreign student in the United Kingdom and a gambling enthusiast. There are no income taxes in my home country or the UK. Are gambling earnings from another country (such as the UK) considered a lawful source of funds for EB-5 investment? If so, than which papers are required to prove it?

Answers

  • Avatar

    Julia Roussinova

    Immigration Attorney
    Answered on

    As long as there is appropriate documentation to prove and trace the lawful source of funds and that gambling earnings are legal in that jurisdiction, you should be able to use these funds. You should contact a qualified immigration attorney to review and analyze your specific situation and give you appropriate recommendations about what documentation to obtain in support of an I-526 petition.

  • Avatar

    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    If the source of funds is from legitimate (legal) gambling winnings, which were legal in the jurisdiction where they were obtained, then such funds may be used in an EB-5 investment. It is the investor's/petitioner's burden to prove (it is more likely than not) that the funds were obtained lawfully. Therefore, to use gambling earnings, you probably would need some sort of receipt, letter, or certificate from the location where the funds were won. Also, some research might be needed about how to document that such gambling is legal in that country.

  • Avatar

    Ed Beshara

    Immigration Attorney
    Answered on

    Personal investment funds can be derived from a lawful and authenticated source. Authenticated documents can show the source is lawful.

  • Avatar

    John J Downey

    Immigration Attorney
    Answered on

    If the gambling is legal then the funds should be allowed. I am not familiar with UK gambling so I have no idea as to how you prove it.

  • Avatar

    Salvatore Picataggio

    Immigration Attorney
    Answered on

    It could be possible, as gambling is also legal in various places in the United States as well. Receipts of winnings, bank statements, and more may be required.

  • Avatar

    Lynne Feldman

    Immigration Attorney
    Answered on

    Usually when you win big sums you are given tax documentation from the casino; do you have this? Did you declare the earnings on your taxes?

  • Avatar

    Jinhee Wilde

    Immigration Attorney
    Answered on

    You may not use gambling earnings as a source of EB-5 investment.

  • Avatar

    Robert Cornish

    Securities Attorney
    Answered on

    There should not be anything prohibiting you from using your earnings assuming they are from lawful sources and comply with applicable anti-money laundering and banking control laws. Your real problem is going to be whether or not you are an "accredited investor" under U.S. securities laws to participate in a particular regional center project. You will have to retain U.S. immigration counsel and U.S. securities counsel to guide you on these issues.

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.