I bought some bitcoins back in late 2009 that I forgot about until recently. I realize now they are now worth about 2 million dollars. How can I provide the proper documentation to apply for an EB-5 visa?
Answers
A Olusanjo Omoniyi
Immigration AttorneysYour idea is doable and there should not be any problem. However, you need to do a fair amount of work detailing the path of funds by delving into the cryptocurrency world, of which bitcoin is a subspecies. Also, it requires explaining, to a fair degree the bitcoin marketplace. Depending on when you intend to invest, be prepared to provide a detailed historical rate chart on how the bitcoin (this is an industry-wide phenomenon and not just limited to you) has appreciated since when you acquired your bitcoins. Based on experience, this chart will be either relatively available from several reputable sources such as the CoinDesk website or other exchanges that plan to trade bitcoins. Advisably, consult an expert on bitcoins or digital currency to prepare the path of funds details with an EB-5 attorney.
Charles Foster
Immigration AttorneysIn order to show a source of funds, you would have to show the source of the funds that you used to purchase either all of the bitcoins or a sufficient percentage of the bitcoins that would equal (in U.S. dollars) the amount of your minimum investment.
Bernard P Wolfsdorf
Immigration AttorneysShow the price you paid and how you got the money to purchase them and show the current value. You should be able to prove the money was lawfully earned fairly easily.
Jon Eric Garde
Immigration AttorneysYou must consider how you will prove the creation of ten jobs in the US economy. I do not see how you can do this.
BoBi Ahn
Immigration AttorneysNo official policy or guidelines have been issued regarding this, however, recent statements from the head of Immigrant Investor Visa Program Office suggest that the investors may indeed be able to invest using bitcoin for EB-5 purposes. Thorough documentation may be the key here.
Mitch Wexler
Immigration AttorneysJust like any other appreciated asset. You must document the source of the funds used to make the bitcoin purchase, evidence if the purchase, evidence of the appreciation in value, evidence if the sale resulting in the $2 million.
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