Julia Roussinova
Immigration AttorneyEB-5 investors receiving distributions from a project in a Regional Center or by virtue of their investment in a new commercial enterprise are generally subject to withholding tax until they become a conditional permanent resident in the United States either through consular processing of their immigrant visa abroad or through adjustment of status to a conditional permanent resident (if in the United States in another lawful immigration status). If you are in the United States, you may be subject to US income tax based on substantial presence test. Once EB-5 investors become a conditional permanent resident in the United States, they are subject to federal income tax on their worldwide income. This includes sources of income in the United States and sources of income outside the United States. However, foreign tax credit may be available on income that is taxed outside the United States if the US has an income tax treaty with an investor''s home country. Certain countries do not have income tax treaties with the US. EB-5 investors are also subject to other types of taxes, such as estate, gift, and generation-skipping transfer taxes. State taxes may also apply. It is important that you start engaging in tax planning with a tax attorney and CPA before you immigrate in order to assess your individual situation and receive an appropriate tax planning advice. Generally, an immigration attorney who handles your EB-5 visa matter would be able to refer you to a licensed CPA (certified public accountant) and tax attorney to advise you on various tax rules and regulations in the US and file appropriate IRS forms to ensure tax compliance. We are qualified to discuss US tax implications. Do not hesitate to contact our office should you have further questions.
