Can I transfer the $500,000 from my bank account in India to the account of the EB-5 regional center directly? Is it required that EB-5 investors have U.S. bank accounts?
The legal requirement is that you are investing your personal funds into the EB-5 project. The funds can be transferred from your personal account whether it is in the U.S. or outside the U.S.
It is better to transfer to a local bank account, but it is not required, provided you can legally do so.
Does not have to hit a U.S. account first. There's a lot more than this that goes into an EB-5 case, so please consult with an experienced EB-5 attorney.
There is no requirement that the funds need to be transferred to a U.S. account under your name first. You can transfer the funds directly to the escrow account of the EB-5 project you are investing in. That said, the Indian authorities might prevent you from transferring the funds at once due to domestic currency controls.
Transferring investment funds differs country by country. In the case of India, make sure you comply with the Indian regulations on remittance. The regulations fluctuate. For example, in the past you could not remit $500,000 out of India at one time. Advisably, consult the EB-5 attorney you are working with as soon as possible.
Yes, you can directly transfer from the Indian bank account to the U.S. escrow account. Note, however, that individuals from India can only move a maximum of $250,000. So you would need another individual (usually a family member) to move the other $250,000 to the U.S.
You can, but before you make the transfer, consult with your immigration lawyer.
You may, absent any restrictions in India on money transfers.
You may transfer directly in most cases.
You do not have to have a U.S. bank account. But if I remember correctly, India will only let you transfer $250,000 without central bank permission. So some people have their wife/husband transfer another $250,000. Most regional centers will not take the two transfers. Therefore it is best to have both of you wire the funds to your EB-5 immigration attorney's trust account, and then have the attorney immediately transfer the funds to the EB-5 escrow bank in one lump sum. We do that all the time for our EB-5 clients.
EB-5 investors do not have to have a U.S. bank account. The Indian currency control rules prevent you from transferring $500,000. Your EB-5 attorney and the local bank will guide you in this process.
The investment capital must be invested in the U.S. in order for the EB-5 investor to file the I-526 petition (among meeting other requirements). So the answer to your question would be yes, the money must be invested in the U.S., either evidenced by deposit into the U.S. account belonging to the business or otherwise shown.
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