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Who can transfer the funds to the EB-5 regional center?

I am an Indian investor and want to get an EB-5 visa. I and my friends (about five people) plan to transfer money into a Indian company first, then to a subsidiary Cayman company, and then the Cayman company will coordinate with a regional center to invest. Is this plan OK? Can we invest through multiple layers? Or is there a requirement that we must each invest directly into the regional center?

Answers

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    You definitely need to work with an immigration attorney to help you understand the EB-5 investment structure, and the legal and lawful methods of sourcing and transferring funds. Your actions must comply with the laws, regulations and policies that cover the EB-5 program.

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    Julia Roussinova

    Immigration Attorney
    Answered on

    You must demonstrate the lawful source of funds and possession of funds through all stages of transfers. It is highly recommended that you retain an EB-5 immigration attorney in the United States first to advise you.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    You can invest through multiple layers, but all of the documentation must be clear and it must show that the funds are yours. The intermediaries are just accommodating or facilitating your transfer of your lawfully obtained funds originating from your personal bank account and ending up in the new commercial enterprise's U.S. bank account. The path of your funds must be clearly documented through each stage or layer in the process and the chain cannot be broken.

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    Work with the regional center you want to invest in and follow its guidelines for money transfer. You do not need multiple layers of money transfers, otherwise you risk an appearance of money laundering. Advisably, seek EB-5 attorney counseling on this matter.

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    Robert Lee

    Immigration Attorney
    Answered on

    As long as the transfers are not prohibited by India's law or regulations. Transferring through 3rd parties is common for EB-5 source of funds. Just keep all records of the transactions and have your friends write a declaration on your behalf.

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    Raymond Lahoud

    Immigration Attorney
    Answered on

    The funds must be lawfully sourced. You must show where the money came from before all of these transfers. The question that will be presented is where did the money come from that was initially invested in the Indian company and you follow the money from that starting point forward. Why add all of these layers, when you can work in a more direct manner to make your investment?

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    Dale Schwartz

    Immigration Attorney
    Answered on

    Anyone can transfer the funds, but be sure to keep good records of all the transfers to trace the funds.

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    Ally Bolour

    Immigration Attorney
    Answered on

    Transfer of funds, source of funds, etc., are fundamental in any EB-5 petition. My best advice is for you to please retain an immigration attorney for assistance. You can not do this through emails.

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    John J Downey

    Immigration Attorney
    Answered on

    A direct investment is best. You must prove the sources of funds and track them from their source to the investment. The more layers you have, the more complicated it becomes. The process you describe may be troublesome as to your losing control of your money somewhere along the line.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    First, any competent adviser can only provide legal advice that is in compliance with all laws. However to provide some guidance, enterprise.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    You will each need to show the lawful source of your funds, so I would not complicate it by adding a company layer.

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    Robert Cornish

    Securities Attorney
    Answered on

    Your U.S. immigration attorney will have to advise you on "source of funds" rules in EB-5. There is nothing wrong with having a Caymanian entity, but if you are doing it to avoid taxes in your home country or to skirt obligations to creditors, you will be in a heap of trouble. You need to be prepared to say why this Caymanian company is needed for a lawful purpose. Even so, I would suspect that you have to disclose ownership in the Caymanian company to someone in India. And you will not avoid U.S. taxes by doing this. And your costs in forming a respectable Caymanian company are substantial if it is to have valid business purpose and structure to the satisfaction of others. In short, it is time to speak to U.S. immigration counsel. And by all means get yourself a real attorney in Cayman now before you screw up.

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    Vaughan de Kirby

    Immigration Attorney
    Answered on

    Receive clear instructions from your investment immigration attorney before the transfer of any funds, as you must be able to prove both the source and path of the investment funds.

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