EB-5 Uncategorized

EB5 Regional Center Questions and Answers

Question: I am from India and want to apply for a EB5 through a regional center. The funds  will be a gift for me from someone in US in USD . I want to know if 1) Can the gift from my relative be directly to the Escrow account. 2) If not and the funds need to be transferred to an account of mine then has any one had any problems in opening a bank account for an Indian in US / Canada . I don’t want to get a gift in Indian rupees as it will really complicate the transaction. Do we need to travel to that location to open a bank account?

Attorney Lei Jiang: You can have your relatives send you money to your U.S. bank account. You need to properly document the gift.

Question: We are currently looking at leasing a center while waiting for I-924 approval. We have heard that leasing a center can add additional delays to I-526 applications. Knowing that the first I-526 will have the business plan and economic analysis whether it’s through our own center or one we lease, are there any extra delays to leasing a center as opposed to using our center once approved? It seems like the I-526 will go through the same process, whether is through a center we lease or through our own, so if we lease a center then we could potentially submit our first I-526 sooner than waiting for our center to be approved. It will be a year this December that our I-924 has been pending.

Attorney Lei Jiang: There will be no additional delays. But if you decide to lease a regional center, then your project will be under this leased RC.  This will make your own RC (if approved later) wasted.

©Lei Jiang Law Firm 2014.

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