I have been saving money since I started working and I have also inherited money from my parents in a savings account in a bank account. I have also saved gift money from my family. However, the only information I can provide about these savings is automated transfers from my checking account to the savings account in the same bank. Is that enough to justify the source of the funds? Will the EB-5 application require that I explain where every single cent of my savings? I will use loan and stock money, but they are already documented. But I am concerned that my savings are not clear enough.
Answers
Lynne Feldman
EB-5 Immigration attorneysYou should show where the money came from that ended up in your checking account, which you then transferred to savings – tax returns from employment, real 3estate sales, stocks, and other purchases.
Bernard P Wolfsdorf
EB-5 Immigration attorneysIf you can prove your earnings via tax returns and employment records and have the final estate distribution, it appears you will have a viable case.
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.