Can I use $1 million gifted by friends for an EB-5 visa? - EB5Investors.com

Can I use $1 million gifted by friends for an EB-5 visa?

I am an investor in Ethiopia with a capital worth more than $3 million. But I can’t transfer the money by converting it into U.S. dollars easily. I have a B1/B2 visa, a bank account in the USA, and some bank deposits I opened with a tourist visa two years ago. Part of my family lives already in the U.S. with my ex-wife. I want to apply for an EB-5 visa or any other appropriate U.S. green card. Some friends living in Canada and the U.S. are willing to transfer a total worth of $1 million into my U.S. account or an EB-5 project escrow account as a gift while I get the money transferred. Would this funding qualify?

Answers

Lynne Feldman

Lynne Feldman

Find an EB-5 Visa Lawyer: Immigration Attorney
Answered on

Yes, if carefully documented this may work. I suggest a consultation to go through the exact details.

Jason Feldman

Jason Feldman

Find an EB-5 Visa Lawyer: Immigration Attorney
Answered on

There is not a straightforward answer to your question. An attorney would need to carefully review the documented paper trail of the funds and discuss this situation with you in more detail.

Ying Lu

Ying Lu

Find an EB-5 Visa Lawyer: Immigration Attorney
Answered on

Any EB-5 capital gifted by others will not relieve you from proving the legal source and path of the funds. Whoever gifts the funds to you needs to prove how he/she gets the money.

DISCLAIMER: the information found on this website is intended to be general information; it is not legal or financial advice. Specific legal or financial advice can only be given by a licensed professional with full knowledge of all the facts and circumstances of your particular situation. You should seek consultation with legal, immigration, and financial experts prior to participating in the EB-5 program. Posting a question on this website does not create an attorney-client relationship. All questions you post will be available to the public: do not include confidential information in your question.