I bought a few houses in expensive areas of Los Angeles a few years ago as a B-1/B-2 visitor. Now the value of these properties has appreciated for more than $1 million. Can I use these funds for an EB-5 application? What issues might I encounter in this process?
If you sell the property, you can use the proceeds for EB-5 investment. As part of the required documentation process, be ready to document how you first earned enough to purchase the property. Also, in the event the property is sold for eventual EB-5 investment, be prepared to show that all requirements for the real estate sale are well documented, including, but not limited to, payment of local and state taxes. The essence of all these documentation processes are to show your EB-5 funds come from legal source(s).
Yes, but you need to show how you earned the money to buy the homes. Also, if you were not in lawful status when you bought the homes, that could be an issue as to whether the money was lawfully earned. You can buy a home on a visitor's visa, so that alone is not an issue unless you overstayed.
You will need to show the original source of funds for the money you used to buy the houses, in addition to the sales proceeds from the sale of houses if you plan to sell them and use these sales proceeds as EB-5 funds. You should engage an experienced EB-5 immigration attorney to guide you.
Proof that you purchased the properties, proof of the valuation, and proof that you had the money to purchase in the first place will all be helpful. Details will matter, so working with an immigration attorney will be essential.
Yes, given the appreciation of the properties you have purchased in the U.S., if that is sufficient to cover your minimum $1 million investment, you should be able to use that as a lawful source of funds. You have to establish the purchase price and the current value for which you have sold the property. That should allow you to clearly establish a lawful source of funds.
Yes, you can use the houses for the EB-5 investment. You would need to show the source of funds used to purchase the homes in order to prove where the money came from. That would include any bank statements, letters from employers, financial institutions, brokers or documents from any source to show where the money came from. You should sit down with an experienced immigration attorney who is knowledgeable with EB-5 to review your investments and the documents you will need that pertain to your situation, as well as the other requirements for the EB-5 process.
You are able to use funds from a U.S. source provided they were legally obtained and you can present evidence to demonstrate as such. It is advised you speak with an immigration attorney to discuss your source of funds further. Please also keep in mind any tax consequences you may have from the sale of property.
Yes, you can use the appreciated value toward the EB-5 investment.
That income should be fine to use, but you will need to trace the source of funds to purchase the houses in the first place.
Yes, as long as you can trace the money used to purchase the homes.
Sure. You will need to source the funds with which you bought the houses.
You can either sell the properties or obtain a loan secured by the properties to make an EB-5 investment. You will need to work with an attorney to help document the legal source of the funds used to purchase the properties.
Yes. At issue is whether your investment was in violation of your immigration status.
Yes, you can use funds derived from the sale or leveraging of these assets. However, you will need to be able to show the lawful source of the funds you used to purchase these assets originally. If you work with an experienced EB-5 investment immigration attorney they will be able to guide you in the use of the assets to finance your EB-5 investment.
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