Does USCIS have any rules or restrictions on the use of more than one escrow account for an EB-5 project? Since some banks have restrictions on certain countries, can we have two escrow accounts designated for a single regional center project with the same terms and conditions?
Answers
Julia Roussinova
Immigration AttorneysIt should not be an issue as long as the EB-5 investors get full disclosure.
John J Downey
Immigration AttorneysYes you may, but it will be up to the financial institution you select.
Salvatore Picataggio
Immigration AttorneysAs long as there is full disclosure to all investors of the escrow accounts and procedures, multiple accounts could presumably be used. Escrow is not a requirement for EB-5, but many projects use these accounts. You can always have investors place their money directly in the New Commercial Enterprise, and avoid escrow and banks all together.
Bernard P Wolfsdorf
Immigration AttorneysAs long as this is fully disclosed in your documents, I do not see an issue.
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