How do I deal with the source of funds requirement if I am the only direct EB-5 investor in a project?

Question

I am a direct EB5 investor. I have invested in a project where there are multiple investors (all US citizens except me) and I am the only EB5 investor.Is it mandatory to provide financial details (including source of funds) of all other investors in the project who have nothing to do with my EB5 application? They are all US citizens.

Bernard P Wolfsdorf · Answer

This is not a requirement.

Phuong Le · Answer

Although it is ridiculous, yes, you very well might have to. All investors in a NCE may have to prove SOF - including non-EB-5. We had a scenario where one of the non-EB-5 NCE investors was a billionaire. We got a RFE, showed them a picture of him cutting the ribbon at his IPO launch. It was approved.

Robert V Cornish Jr · Answer

I think you are misinterpreting the term "source of funds." That, in EB-5, relates specifically to your provision of the money used to make the investment, and whether it is "sourced" lawfully.    Your immigration attorney should be able to guide you on your I-829 requirements as to your status as the lone EB-5 investor in a direct project.

Dennis Tristani · Answer

I would be prepared for the other investors to be able to provide straightforward documentation concerning their income stream, such as tax returns and financial statements. The requirements are not as stringent as the investors, however, absent documentation on the other investors you risk receiving a request for evidence. I would not file the I-526 without confirmation from the other investors that basic documentation is available from them.

Lynne Feldman · Answer

They only need the source of funds for your monies - were they lawfully earned.

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How do I deal with the source of funds requirement if I am the only direct EB-5 investor in a project?

Answers

Bernard P Wolfsdorf

Phuong Le

Robert V Cornish Jr

Dennis Tristani

Lynne Feldman