Source Versus Path of Funds
What is the difference between the “source” and path of funds?
We use these terms to prove that the funds belong to the investor and the funds were derived from legal activity.
Source. The funds must be shown to have been earned legally and not be drug or mafia profits. Documents include tax returns when available, company papers, wills, property sales records, bank savings documents, etc.
Path. We gather documents to show the transfer of the funds from the source to the investor to the investment (usually a Regional Center). We gather the bank wire transfer records. In some cases there is a gap in the chain from the source bank account to the investment. Sometimes, the funds go to an agent who helps send the funds out from certain countries such as China, Iran, Nigeria, and other countries with currency restrictions. So far, USCIS usually accepts the documents provided when agents are used.
We spend considerable time with our clients to assist with this aspect of the case.
Martin
Wednesday, January 26, 2011
Thursday, January 20, 2011
Regional Center Set Up
Martin Lawler and his team of EB-5 expert lawyers advise developers on structuring of EB-5 Regional Centers; the necessary documents; timing; and advice on the Regional Center’s operation.
We have represented a number of developers to set up Regional Centers for investors to qualify for EB-5 investor green cards. Within four months of approval, one Regional Center has filed over 12 I-526 applications and has many more in the process of investing.
We are also helping set up seven more Regional Centers. We can recommend economists and business plan writers who quickly prepare the necessary documents.
In some cases, investors can invest in the Regional Center’s project directly and the investor’s EB-5 I-526 application filed before the Regional Center is approved by the USCIS. In other cases, investments can be made in the Regional Center while its designation application is pending with the USCIS, but the I-526 individual petition cannot be filed until the Regional Center application is granted.
Regional Centers are complex, expensive and time consuming projects. They involve constant marketing, government compliance, and locating and managing projects. They can be excellent means of raising capital. But they require a substantial commitment. Martin Lawler is pleased to discuss creating a Regional Center with interested developers and financiers.
We have represented a number of developers to set up Regional Centers for investors to qualify for EB-5 investor green cards. Within four months of approval, one Regional Center has filed over 12 I-526 applications and has many more in the process of investing.
We are also helping set up seven more Regional Centers. We can recommend economists and business plan writers who quickly prepare the necessary documents.
In some cases, investors can invest in the Regional Center’s project directly and the investor’s EB-5 I-526 application filed before the Regional Center is approved by the USCIS. In other cases, investments can be made in the Regional Center while its designation application is pending with the USCIS, but the I-526 individual petition cannot be filed until the Regional Center application is granted.
Regional Centers are complex, expensive and time consuming projects. They involve constant marketing, government compliance, and locating and managing projects. They can be excellent means of raising capital. But they require a substantial commitment. Martin Lawler is pleased to discuss creating a Regional Center with interested developers and financiers.
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