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What documents do I need to provide for EB-5 source of funds?

I want to use my house as collateral to get a bank loan and then use this loan toward an EB-5 investment. The initial funds used to purchase the house came from me and my wife''s employment income. I can provide employment offer letters and paystubs as evidence. Does this source meet the requirement of EB-5? What other documents might we need to provide?

Answers

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    You need to carefully document how you earned the funds to buy the house, such as tax returns and income statements, and then show property ownership, employment letters and pay stubs. They may be helpful but they are absolutely not enough.

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    While some of the documents you identified are good, you also need to provide proof of your job(s) where you earned the money to initially purchase the house, employment letters, eventual pay stubs, any evidence of pay raises. In addition, you are required to provide five years of tax returns, which would suffice to meet the requirements of EB-5. The essence of providing all information showing how you made your money is to prove that your earnings came from legal source(s).

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    Julia Roussinova

    Immigration Attorney
    Answered on

    You should also provide five years of tax returns with W-2s or IRS tax transcripts, appraisal for the house, loan origination documents. You should consult an EB-5 immigration attorney to help you with your I-526 filing.

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    Belma Chinchoy

    Immigration Attorney
    Answered on

    Yes, this should be fine. Once an attorney reviews the documents you listed here, she or he will advise on additional documents needed.

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    Blake Harrison

    Immigration Attorney
    Answered on

    You would want to include bank records demonstrating that you saved enough of the employment income to purchase the property. You could submit a declaration to explain your savings if the bank records are no longer available.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    You will need all related documents, including five years of tax returns for you both, purchase documents for the house, bank documents relating to the loan, etc.

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    Jinhee Wilde

    Immigration Attorney
    Answered on

    You should also provide tax returns and/or W-2s (if you have them) for you and your wife to corroborate the employment income. You will also need to provide bank statements and other documents that your immigration lawyer deems necessary to show the source as well as the path of funds.

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    Dale Schwartz

    Immigration Attorney
    Answered on

    That should work just fine.

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    Abhinav Lohia

    Immigration Attorney
    Answered on

    On the face of it, it does seem the right path of source of funds. Obviously, an attorney will have to review all the documents to figure out whether it will work for sure.

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    Kyle Barella

    Immigration Attorney
    Answered on

    You will certainly need to present such evidence to show your income earned over the years. The EB-5 source of funds aspect is the central component in a successful EB-5 petition. It is advised you speak with a qualified EB-5 lawyer to fully discuss the evidence you should provide.

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    Robin J Gray

    Immigration Attorney
    Answered on

    You would need to provide any and all documents to show where the funds came from. Employment letters, bank statements, pay stubs, etc., would be very good to show where the money came from to pay for the house and then the loan documents against your home to show where the money is coming from to fund the EB-5 investment. The more documents you can show to substantiate the origin of the money used for the EB-5 investment, the better. It might also be best for you to retain an attorney who is experienced in EB-5 to review the documents and help you through the process.

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    Charles Foster

    Immigration Attorney
    Answered on

    Based upon the information you have provided, you should be able to establish a lawful source of funds. By showing that you were able to purchase the house from your regular employment income, you should be able to use the bank loan that is fully collateralized with your house. In terms of documents, you would show the history of your employment, your salary, funds that were placed in your savings account, the purchase agreement for the property, evidence of the bank loan and the collateral you gave to secure the bank loan.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    By retaining an immigration attorney, you will get personalized and specific advice for all of the documentation you need. Basically, income and proof of ownership of the property will likely be needed here.

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