What is meant by the requirement that the investor’s assets be “lawfully gained”?
Under USCIS regulations, the investor must demonstrate that his assets were gained in a lawful manner. This requires the investor to prove his investment funds were obtained through lawful business, salary, investments, property sales, inheritance, gift, loan, or other lawful means.
Can money gifted by a parent or other relative be used for an EB-5 Investment?
Yes, provided that any applicable gift taxes are paid. It must be demonstrated that the gift is an actual arms length transaction and is a not a mere ruse or that the gifted funds will be given back after permanent resident status is granted.
Can I apply if I have been rejected or terminated in the past by USCIS for an L-1, E-2, B, or other visa?
Rejection in the past does not disqualify the applicant, unless the reasons related to immigration fraud or other major problems. It is most important that all criminal, medical, or U.S. immigration history problems be disclosed to the limited partnership and legal counsel in advance of application.
What is the difference between permanent residency and citizenship?
Once you obtain a green card, and become a legal permanent resident, you have most of the rights and obligations of U.S. citizens, except that you cannot vote and are not entitled to some public benefits. You are subject to the same tax filing requirements and entitled to the same tax rates and deductions as U.S. citizens.
Your “green card” is your most important travel and identification document. When your green card arrives, please look at it carefully. You may need to extend it in 10 years. If you need to replace it before then because it is lost, stolen or dilapidated, you may file a form with the INS.
“Abandonment of residency” rules are an important restriction to which legal permanent residents are subject. Abandonment can occur when you are outside of the United States for more than six months without informing the INS of your plans in advance. The law provides that you are free to travel abroad, provided that your trip is “temporary.” Generally, the INS views any absence from the United States for longer than six months as not temporary. Thus, it is advisable to obtain a “re-entry permit” before your departure.
One of the most important rights legal permanent residents possess is the right to obtain U.S. citizenship after five years. There are two ways to become a U.S. citizen. One is by being born in the U.S. or being born to a U.S. citizen. The other way is by naturalization. The first step in becoming a U.S. citizen through naturalization is to become a Legal Permanent Resident (LPR). Being an LPR for 5 years is one of the basic requirements for qualifying the naturalization. A second requirement is being physically present in the U.S. for 30 months during the 5 years prior to the naturalization application. Once becoming a U.S. citizen, an individual is entitled to benefits including the right to vote and hold public office.
How long is a Green Card valid for?
There are several answers to this question. If you received your Green Card through marriage, and have not been married for two years when you got your Green Card, you should have a conditional Green Card that is good for two years. Also, if you received your Green Card through investment (EB-5), you should have a conditional Green Card for two years.
You must apply for removal of the condition within 90 days before the two years are up. Once that is approved, you have a regular unconditional Green Card. If you apply either too early or too late, you have a problem and should consult with an attorney for advice. If you do not have the condition removed, the Green Card will become invalid at the end of two years, and your permanent resident status will be terminated. Unconditional Green Cards are good for ten years. This does not mean that after ten years, you stop being a legal permanent resident – only the card itself becomes invalid. You must apply for a new one using form I-90. Without a current Green Card, you cannot use the Green Card to travel out of the USA, and you also cannot use the Green Card as evidence that you are permitted to work.
Are EB-5 visas available to people from any country in the world?
Legally yes. However, people from countries that do not have reliable tax and other financial documentation will need to be more actively involved in proving the authentication and source of investment funds to process an EB-5 visa application.
Do I have to live in North or South Carolina to participate in this program?
No. You do not have to live in North or South Carolina. You are free to live in the location of your choice.
What type of people generally participate in this program?
Typical Foreign Investors come from all walks of life. Generally Foreign Investors are well educated foreign professionals and retired people. They include doctors, lawyers, accountants and other business people. Also, college students may be investors.
The reasons for participating in the program vary. Foreign investors want to share in the American dream. Many Foreign Investors are looking for the stability offered by the US. Especially in these troubled times, the US is a beacon of strength in an uncertain world. Many investors want to retire in the US. Others will utilize the excellent health care system in the US. Some want the flexibility to live in their second home or retirement home in the US. Children (under 21) of Foreign Investors also share in the benefits and will receive their own green card. As such, your children are eligible to be educated in some of the finest schools in the world in the US and can legally work in the US. Some investors are looking for stable investment in the United States. There are many reasons why individuals want US residency, and there are many reasons why the EB-5 investor program is right for you.
How do I prove the legitimate nature of the source of funds I will invest?
In addition to your personal background information, you must provide information showing that the funds you will invest come from a legitimate source. This financial background information varies widely in individual cases, but generally includes: bank statements tracing funds from you to the UNYRC, five years of tax returns, documentation concerning the actual source (gift, inheritance, bank loan, etc.), proof of ownership in any businesses, and business licenses.
The USCIS will thoroughly investigate the source of funds. This is especially true with the rise in terrorism and money laundering of ill gotten funds. Therefore we encourage all investors to completely and truthfully provide all the required information and to provide more information and not less.
What is a legitimate source of funds for my investment?
Your funds to make the investment can come from any legitimate source. The following are a few examples of where your investment can come from:
- Your personal savings
- The sale of a business
- The sale of stock or other assets
- The sale of a house or other personal items
- An inheritance
- A gift
- A loan from a bank, a relative or an employer
- Or any other legitimate source of funds.
You must provide proof that the funds were legitimately acquired. The exact source of funds varies on a case by case basis, and the proof required also varies. Please contact UNYRC for further information.
What are the tax implications of receiving a green card?
Investors should consult their tax or legal advisors prior to making an investment. In general, the United States requires income tax reporting, by all US residents, based on worldwide income. Most US states also levy an income tax. There are numerous tax treaties regarding avoidance of double taxation, but your advisor can provide you with the information you will require in your specific situation.
What is the difference between being a permanent resident and a US Citizen?
The primary differences between being a permanent resident and a citizen of the United States is that citizens can vote in elections and can hold public office. There are other differences, but we suggest you contact your legal advisor with any specific questions. Generally, one must be a permanent resident for 5 years to be eligible to apply for U.S. citizenship.
Is my investment guaranteed?
No. The law requires an “at risk” investment without guarantees or redemption rights.
What is the rate of return on investment?
EB-5 Program regulations and USCIS rulings require all EB-5 investments be “at risk.” As outlined in the Confidential Investment Memorandum, each investment is specific to its risk reward analysis and pro forma analysis. While CCFI cannot guarantee a specific rate of return, CCFI believes it can achieve results consistent with or exceed those of other regional centers.
Should I consult my own financial advisor before investing?
Yes. CCFI urges prospective foreign investors to please consult their own financial advisors for advice on investing through this program.
Can I visit the project location?
Definitely! CCFI looks forward to coordinating your visit anytime.
How can a potential investor apply for the EB-5 via through ARCFI?
A potential investor can contact our office and speak to one of our staff regarding their interest in the eb5 visa. We will answer all of your questions and provide program materials regarding our project. For further information, please review our Subscription & Immigration Procedures.
Can I bring my family and do they get permanent residency (a green card) if I invest in the U.S.?
A qualifying immigrant investor is eligible to sponsor his/her immediate family, which includes a spouse and all children under the age of 21 years. All members of the immediate family are granted conditional permanent residency upon approval of the I-526 and adjustment of status or immigrant visa applications, if processing abroad, and all are eligible to apply to remove the conditions after two years.
Where can I find a copy of the relevant EB-5 laws and regulations to review?
The USICS web site at www.uscis.gov provides information on the EB-5 Program and obtaining lawful permanent resident (LPR, or “green card”) status through investment. The federal regulations governing the EB-5 program can be found at 8 CFR §204.6.
What are the risks?
EB-5 regulations require that all invested capital be “at risk” of loss. Therefore, no investment can be guaranteed – that is, without risk – if it is to qualify as an EB-5 investment. “At risk” generally means subject to normal business and financial risk. Other risks include the enterprise’s failure to meet the direct or indirect job creation requirement. While no investment can be guaranteed, CDRC investments are structured specifically to minimize these risks to the greatest extent possible. These and other risks are described in detail in the documentation provided for each CDRC investment.
How long will funds remain invested with ARCFI?