To qualify under the EB-5 program, the Investor will need to show that the funds invested into the new commercial enterprise were derived from a lawful source. These funds may come from a gift provided that the Investor can demonstrate the lawful source of the gift funds. U.S. Citizenship and Immigration Service requires that substantial supporting documents be submitted with the EB-5 application in order to demonstrate a gift as the lawful source of the invested capital.
If available, the Investor should include the following documents with the EB-5 application to prove the investment funds were obtained from a gift:
- Capital Source Statement. The Investor should submit a statement stating that the investment funds were derived from a gift, who the gift came from, and how giftor obtained the funds.
- Investor’s Income Tax Returns. The Investor’s past five years of individual tax returns should be submitted with the EB-5 application.
- Bank Statement. The Investor should include his or her bank statement demonstrating the receipt of the loan funds with the EB-5 petition.
- Gift Letter. A gift letter from the giftor should be submitted with the Investor’s EB-5 application which should contain the gift amount and that the Investor is under no obligation to reimburse the giftor.
- Giftor’s Capital Source Statement. The Investor should submit a statement from the giftor stating how he or she obtained the funds gifted to the Investor.
- Giftor’s Income Tax Returns. The giftor’s past five years of individual tax returns should be submitted with the EB-5 application.
Other Documents. Other documents specific to the source of the giftor’s funds should be included with the EB-5 application. The documents required will depend on how the giftor obtained the gifted capital. A list of documents for common sources of funds can be found in other Source of Funds articles found on this website.
Please note that these general suggestions by themselves do not guarantee the approval of an EB-5 application. At Harrison Law Office, we can help you and your family through the entire EB-5 process. Call us today at (415) 212-6817to schedule a free consultation.