Proving the Lawful Source of Funds
Kate Kalmykov
Individuals interested in the EB-5 immigrant visa are required to prove that the source of their investment is lawful. Although affidavits or declarations submitted by the investor and/ or their family members may guide the USCIS Adjudicating Office in their review of an EB-5 petition, independent, corroborating documentation of the lawful source of funds must be submitted with the I-526, Immigrant Petition for Alien Entrepreneur filing. The documents that investors must submit will vary depending on their specific source of investment, however, the following provides a general overview of documentation that is generally submitted as evidence with an EB-5 filing:
- Passport biographic page of the investor;
- Narrative of the investor’s past earnings history, current occupation/business, history of how he or she has made the investment funds;
- Documentation to show that the investor has a level of income or has accumulated sufficient wealth to make the EB-5 investment and reside in the U.S. Financial statements for the investor or their business.
- Investor’s Curriculum Vitae or Resume;
- Investor’s academic degrees, if any;
- Professional licenses from appropriate foreign or domestic authority;
- Recent bank account statements showing personal savings;
- 5 years of tax returns for every country where the individual has earned money and/ or filed tax returns. If income was earned in years prior to this, tax returns showing highest income levels. In cases where a company pays taxes on behalf of its employees, records from the company showing that such filings have been made on behalf of the investor.;
- If the money comes from a business the investor owns, they will need to submit:
- 5 years of the business’ tax returns
- Audited financial statements or accountant’s evaluation
- website print outs
- marketing/ promotional materials
- business licenses/registration documents
- media coverage of the business
- bank statements for the business
- Documentation providing ownership or position within the company
- Stock certificates showing ownership percentage
- Documentation relating to acquisition of business and funds spent for acquisition
- Documentation relating to sale of business and proceeds from same
- If the money comes from earnings from an employer:
- Paystubs
- Employment confirmation letter from the employer confirming the individual’s title, rate of pay, and length of employment
- Employment contracts or offer letters
- Letters providing a bonus or stock options
- Letters describing any promotions
- If the funds are from the sale of real estate:
- Documentation of purchase and sale of real estate
- Appraisals of real estate
- Lease documents demonstrating lease income
- Deeds and mortgages
- If the funds are from sales of stocks of bonds:
- Securities account statements if the money comes from stocks/bonds/trading
- Documentation of purchase and sale
- If the funds are from an inheritance all documents relating to the estate settlement;
- If the funds are from a lawsuit or divorce proceeding:
- All documents related to alimony
- Property settlements
- Awards or settlements related to civil lawsuits
- If the funds are from lottery or gambling winnings documentation related to same;
- If the money is a gift from a family member:
- The above documents as they relate to the giftor, as well as the investor
- A gift affidavit explaining the reason for the gift, and how the giftor has earned his or her money;
- Documentation of the relationship between the giftor and investors, such as birth certificates, marriage certificates, etc.
- Tax returns evidencing payment of applicable gift taxes