EB-5 Immigrant Investor Program: First Step for International Students Applying for Investment Immigration – Proving the Source of Investment Funds
First Step for International Students Applying for Investment Immigration: Proving the Source of Investment Funds
Attorneys:Attorney Jeff Zhengquan Xie,Attorney Jiarui Yin,Attorney Qian Zhao,Attorney Haochun Ling, Xiang Xiao
Literally speaking, investment immigration means applying for U.S. immigration status through investment. But international students in the U.S. are supposed to focus solely on their studies—how can they apply for investment immigration? Where can they obtain such a large sum of money for the application?
International students are not only eligible to apply for investment immigration, but now is also an excellent time to do so.
Currently, the minimum investment requirement for the EB-5 program is $800,000. For certain targeted employment areas (TEAs), the required investment amount is $1,050,000.
For many international students, it is unlikely that they can afford this investment sum on their own. In most cases, the funds for international students to pursue investment immigration come from gifts from parents, relatives, or friends.
As long as parents, relatives, or friends are willing to gift the required investment amount to the international student, the student will have the financial capacity to apply for investment immigration.
The prerequisite, however, is that these sponsors can provide documentation to prove the lawful source of the gifted funds.
There are various methods to verify the source of investment funds, and the approach adopted depends on the specific circumstances of each case. For those who truly need assistance, please feel free to contact our firm.
Some people ask: Shouldn’t one first find an investment project before sorting out the source of funds? After all, where else would the money go?
Not necessarily.
Proving the source of investment funds and actually transferring the funds to a selected investment immigration project are two entirely separate processes.
Even after identifying a preferred investment immigration project, there are numerous procedures to complete before the funds can be transferred to the project.
If the source of investment funds is properly documented, the verification report can be used for any investment immigration project you may choose to invest in later.
Under no circumstances should you wire funds directly to an account belonging to the project or an account known to the project operator.
You should also avoid hastily remitting funds from overseas to a U.S. bank account or the international student’s personal U.S. bank account.
Many international students already hold sufficient funds in their U.S. bank accounts to meet the investment requirement. However, in most cases, these funds cannot be used for investment immigration applications, because the source of these funds has not been properly verified.
Therefore, for international students hoping to pursue investment immigration, the first thing to assess is whether they can raise the required investment capital.
Immigration law does not restrict who can gift the $800,000 investment amount. But based on our firm’s experience handling investment immigration cases, the vast majority of investment funds come from gifts from family members and friends.
As one parent told us, many international students are only children. Recognizing that it is difficult and time-consuming for their children to obtain U.S. permanent residency through their own efforts, and that holding a green card can greatly facilitate their children’s job search after graduation, these parents simply choose to gift their children a green card to support their future career development.
In summary, there are multiple investment projects available for selection, but only one source-of-funds verification report needs to be prepared. Anyone seeking to apply for investment immigration cannot bypass the step of proving the source of investment funds—and this step, as the first priority, should be completed first.
The above overview is prepared by XIE LAW OFFICES,LLC. to provide legal information to the Chinese community. It is primarily for academic discussion purposes and does not constitute legal advice on specific cases. If you already have legal representation, please consult your own attorney, who is familiar with the details of your case. Clients of Xie & Associates Law Firm, as well as readers who have not yet retained legal counsel, may contact Attorney Xie for specific legal questions. If you wish to reprint this document, please do so in full without any deletions, and clearly indicate the source.
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