My father will be gifting a sizeable portion of the EB5 funds required from a land sale in India. The remaining investment funds will come from cash and stock savings originating from my own employment within the US. These 2 funding sources far exceed the capital required for EB-5 investment. Can the source of funds documentation be limited to these two sources alone, or must I provide the source of funds for all the funds in my bank account? I’m expecting to receive other gifts up to $100K from various friends and relatives in the US within the year, but it would be too onerous to provide source of funds documentation from all these people, or get them to sign legal documents.
Answers
Lynne Feldman
EB-5 Immigration attorneysThe simpler the better but need to show where the funds came from.
Michael A Harris, Esq
EB-5 Immigration attorneysFor EB-5 purposes, you only need to fully document the funds you are actually using for your investment, not every dollar in your bank account. In your example, if your EB-5 capital will come from your father’s gift (sourced from his land sale in India) and from your own employment and stock savings in the U.S., then those two sources must each be fully documented with tax, bank, and transaction records. For the gift, USCIS will also require tracing back to your father’s lawful source of funds. If you decide to use additional gifts from friends or relatives, those would also need to be traced and documented, so the cleanest approach is usually to rely only on the sources you can fully document.
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