What should EB-5 investors pay attention to while selling a property in the U.S.? - EB5Investors.com

What should EB-5 investors pay attention to while selling a property in the U.S.?

I am living in the U.S. with a valid visa and work permit. I filed my I-526 application last summer and the case is still pending. I bought a house two years ago as a non-resident without any problems. Now I plan to sell it. Could there be any issues since I have a pending immigration petition? What should I pay attention to during the transaction? I do not want this to impact my EB-5 case.

Answers

Barbara Suri

Barbara Suri

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The sale of your house should have no impact on your EB-5 investment case.

Salvatore Picataggio

Salvatore Picataggio

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Shouldn&#39t affect immigration, but tax-wise? Yeah, you want to find an accountant who understands FIRPTA.

Julia Roussinova

Julia Roussinova

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Sale of real estate should not impact your pending EB-5 petition if the source of funds for your EB-5 case is not loan proceeds from a loan that is secured by this real estate. Consult an accountant or other tax professional on how to report capital gains (if any) and/or use exemptions as may be applicable in connection with the sale.

Marko Issever

Marko Issever

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You should have no issue with your EB-5 application as long as the house you purchased was for cash only or financed through means that were independent of your EB-5 application. You would get into immigration issues if and when you use your investment in the EB-5 as collateral to purchase the real estate. Since you obviously did not do that, you should be OK. Just make sure that you do not get hit with a huge non-resident capital gains tax applicable to foreigners. Before selling the property you should definitely seek advice of an accountant or tax attorney who specializes in this kind of a case.

A Olusanjo Omoniyi

A Olusanjo Omoniyi

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The sale of the property won&#39t affect your EB-5 case negatively or positively because selling real estate is not related to an EB-5 petition.

BoBi Ahn

BoBi Ahn

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There is no issue or effect to your EB-5 petition or processing by your sale of a house, since there is no connection between the house and your investment.

Bernard P Wolfsdorf

Bernard P Wolfsdorf

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The purchase and sale of a home should not impact your EB-5 application unless the financing is connected.

Charles Foster

Charles Foster

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Selling your house will have zero impact on your I-526 petition.

Lynne Feldman

Lynne Feldman

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There should not be an issue, provided you maintain a non-immigrant status.

Stephanie Lee

Stephanie Lee

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You won&#39t have any problem in selling a property in the U.S. as a non-resident other than the higher tax rates if you gain any capital. Plus, the disposition of a U.S. real property interest by a foreigner is subject to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) income tax withholding. As you have a valid visa and work permit, however, you may be considered a resident from an IRS perspective.

Vaughan de Kirby

Vaughan de Kirby

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There are many things to pay attention to that your investment immigration attorney can help you with. One key factor is you will need to document the source of the funds you used to purchase the house originally. In EB-5 you must trace the source and path of the funds, so keep careful documentation of the entire transaction.

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