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Questions and Answers > EB-5 Investments

Can I use my brothers address to open an account in the US for my EB-5 application?

I have called many banks and all the banks tell me that I would need to be physically present at the bank branch in order to open an account if I want to add a POA and must have a US address. Can I open an account using my brother''s US address while I''m in India? I have a SSN from my past H1B work I did in the US Will USCIS consider the funds that my brother gifts me as mine if I am the secondary account holder with my brother? Can my brother be a POA on my account in case I can''t open a joint account with him so he can help manage my business while I wait for my EB-5 visa to be issued to me? The issue I face is that all the big banks including the online ones that don''t have a physical location are asking for a US address which is fine since I can use my brothers. But will the USCIS be ok with it since I''m physically not in the US and will eventually use the funds from this account to start my EB-5 direct investment business? I''m being told by the banks that the primary account holder is responsible for paying taxes on the interest earned. Will it be a problem if my name is second?

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Answers

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    Lynne Feldman

    Immigration Attorney
    Answered on

    Lots of questions. In the filing with USCIS, they will want a complete paper trail of the funds to show they are yours and lawfully sourced.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    I do not think the USCIS will mind if you use your brother''s mailing address - they know you are not in the U.S.

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    Fredrick W Voigtmann

    Immigration Attorney
    Answered on

    If you have a U.S. business partner, such as your brother, who is in the United States and can be a director or LLC manager, he can be the signer for the bank account, and you may not need to be physically present to open the corporate bank account. For EB-5 purposes, you do not need to be the sole owner or even majority owner of your new commercial enterprise.

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    Dale Schwartz

    Immigration Attorney
    Answered on

    You will have a hard time opening a bank account in the USA if you don''t yet have a Social Security number. We often let our EB-5 clients wire the funds to our law firm''s escrow account, and then we pay them over to the EB-5 company. Or they wire the funds to a friend or relative in the USA who in turn sends the money to the EB-5 issuer. Best of luck!

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    Stephen Berman

    Immigration Attorney
    Answered on

    If the money is in a joint account, it seems to me you will not be able to prove that the money is yours.