I am thinking about the EB-5 visa program. I am having trouble moving money from China. Banks ask me lots of questions. Do you have any answers that could help me?
The PRC restricts the exchange of Chinese currency and generally limits the remittance of foreign currency to US $ 50,000 per person per year. There are different strategies that a Chinese EB-5 investor can use to remit the funds required for the EB-5 investment. The Chinese EB-5 investor should discuss these strategies with their U.S. immigration attorney before the actual remittance of funds to the United States.
Due to the currency rule, the only way that the Immigration service will honor your investment is if you could legitimately transfer the money to 10 different people or to a company or bank you have in Hong Kong, then followed by a transfer to the Regional center you chosen to invest.
You ask a complex question and I would need more information to answer it; you can reach me directly at.
Sorry, I do not know the Chinese law. But you have to select and attorney, then select a Regional Center. The attorney and Regional Center will help you move the investment money.
The funds from China must be moved by lawful means. It is beyond the scope of our law firm''s services to advise on third country laws and requirements. We suggest that the local laws be consulted. We have seen but will not pass any supportive comment on a number individuals each sending US$50,000 received from the investor, family, or company and sending those funds out of China to be then sent on to the investment or the escrow company.
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