Bernard P Wolfsdorf
Immigration AttorneyIf the money is lawfully earned and you can show how you got the money to start the business, then you should be able to sell it and apply for an EB-5 visa.
Can I sell 80% or more of my company to use it as my EB-5 funding? Are there limitations as to where the funding comes from, or any rules against this?
If the money is lawfully earned and you can show how you got the money to start the business, then you should be able to sell it and apply for an EB-5 visa.
You must show the funds were lawfully sourced, so if coming from your company, this should be fine.
Yes, you could sell your 80% ownership interest in the company and then use the proceeds from the sale in an EB-5 investment.
There is no rule against obtaining your fund from an asset sale. You will need to prove the lawfulness of this source, which will require a lot of work from an experienced EB-5 attorney.
If you are the sole shareholder or sole member of your business, you may sell shares or membership interest in your business. Funds from sale need to be distributed to you and be your personal funds in your possession. You must pay any applicable tax. Then you may use them as EB-5 funds. You would need to trace source of funds, including your business registration documents, any initial capital contributions made from lawful sources of funds to start up business, purchase and sale documents for sale of shares or membership interest, tax returns, personal bank statement showing deposit of funds. Hire an experienced EB-5 immigration attorney to prepare your case.
The EB5 investment has to be from personal funds of the investor so if you sell shares of your company and realize the proceeds personally, you can use it to fund the EB-5 project. There may also be tax efficient company loans to consider in some situations.
Yes you could do that. The money must be yours, and come from a legal source.