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Who must receive the EB-5 investment gift funds?

We have the lawful source of fund report ready. The investor, as giftee, is in China; the giftor, in the UAE, has $550,000 ready to wire. The Gift Deed is signed in the UAE. However, if the giftor wires the $550,000 to the giftee in China, it will be very hard to move the funds out of China within three days. Can the giftor in Dubai directly wire the $550,000 to the EB-5 regional center, but with a note that it is "for and on behalf of the giftee as a gift"? In this model, since the giftee does not have “possession and control of the gift,” will USCIS deny the case or send us an RFE?

Answers

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    Generally, the USCIS can send an RFE for any minor issue they may be confused about or interested in. The specifics of your questions require the review and analysis of an immigration EB-5 attorney.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    The giftor and the giftee can sign a joint declaration/agreement (can be included in the gift letter) that states "to expedite the transfer, the giftor will wire the money directly to the escrow *for the credit of giftee." The NCE should also issue a confirmation letter stating the giftee's investment funds have been received on [date].

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    Most of the regional centers have an escrow account with each investor's name noted. The donor/giftor could wire with the note that it is for the recipient/giftee/investor on the wire and make sure that the regional center's receipt letter notes the name of the investor to close out the loop. We often have funds being wired for the investor from parents and other person giving gifts directly to the escrow.

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    John J Downey

    Immigration Attorney
    Answered on

    The funds must be sent directly to the donee. I suggest you open an account with a bank in the United States in the name of the donee and have the funds wired there.

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