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How can I use online money transfer service statements as proof for source of funds for EB-5?

I am a forex trader and have saved more than $500,000 in my Neteller online account. Can I use this money for EB-5? I can easily transfer that money because it is an online account, but the problem is that I can only provide online transaction records from my forex broker as source of funds. Does USCIS accept this?

Answers

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    Daniel A Zeft

    Immigration Attorney
    Answered on

    The central issue is whether you obtained the funds legally.

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    Once needs to show logically that this is all lawfully earned. Online money transfer service statements are good proof for source of funds, but we would advise a more comprehensive approach to explain your income. You can even use a declaration explaining how you earned the money, but it is also very helpful to include tax returns.

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    Yes, you can use the money in the your Neteller online account for EB-5 investment. The records for forex exchange transactions are actually the best records you would have in your possession. Also, you will be asked about how you made the money for the forex trading and that the money was earned from legal source(s).

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    Julia Roussinova

    Immigration Attorney
    Answered on

    In addition to monthly statements of trading transactions, you will also need to demonstrate how you originally obtained the initial funds to start the online account.

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    Dale Schwartz

    Immigration Attorney
    Answered on

    If your monthly statements show you have earned over $500,000, you should be fine. You may need to show where you obtained the original monies put into the account as well.

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    Stephen Berman

    Immigration Attorney
    Answered on

    There is no way to be 100 percent certain USCIS would accept this evidence, but I cannot think of any reason to reject that evidence.

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    Robert West

    Immigration Attorney
    Answered on

    Not enough. You would have to show how you obtained the initial money to start the account, then the rest should work. You must trace the funds from start to finish.

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    Raymond Lahoud

    Immigration Attorney
    Answered on

    You will have to source both the income you generated to the Forex account as well as the initial Forex investment funds. As for investment accounts, it is best to secure all of your statements, records of transactions, etc.

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    Blake Harrison

    Immigration Attorney
    Answered on

    You can use the funds from your forex account, but you will need to provide documents demonstrating how you lawfully earned the funds originally deposited into the account.

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    Charles Foster

    Immigration Attorney
    Answered on

    I believe it could be acceptable as long as you could make a clarifying statement, preferably in affidavit form, that explains to the USCIS examiner the process that allowed you to save more than $500,000 on your online account through your forex trading as you source of funds. But given the fact that the average USCIS examiner will not be familiar with same and might have a hard time deciphering the documents, it is better to lay out your explanation very clearly and reference exhibits that would establish the source of funds.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    You need to trace funds back fairly far. How did the money get into the account? How did it leave? All of these things can be requested by USCIS. Sometimes, what the intended source of funds would be is not the best source of funds because of the ability to prove it with documentation.

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