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If such a transaction has already taken place, it can be remedied by requesting that the regional center refund the administrative fee to the investor and then directing the investor to
re-wire his administrative fee from his personal bank account,
all the while showing that the funds came from the same bank
account where he receives his well-documented personal funds,
such as salaries and bonuses. Or, to avoid such time-consuming
maneuvering, attorneys can advise their clients to ensure that
the source of the administrative fee meets EB-5 requirements
and the de facto requirement that the source of the administrative fee be properly documented before filing their application.
Furthermore, in order to document the source of the administrative fee, several of our clients have been successful in
submitting a signed letter to USCIS, along with supporting
evidence, stating that the source of their administrative fee
originated from their salary and savings, just as the investor’s
capital contribution originated from his salary and savings.
Trends indicate that USCIS will inquire about the source of
the administrative fee, so it is important to consider this when
paying any fees.
Conclusion
Based on our reading and analysis of the regulations and
Immigration and Nationality Act (INA), USCIS should not be
questioning the source of funds for the administrative fee because it is not part of the capital investment, which is the component of the transaction subject to USCIS scrutiny. However,
in practice, USCIS is closely examining administrative fees and
8
it is still advisable for investors, agents, and regional centers to
ensure that the investor’s administrative fee comes from his own
personal bank account. Additionally, the investor will need to
attest and evidence how he obtained lawful funds for the administrative fee. Until USCIS follows the regulations and INA,
EB-5 attorneys should be prepared to document the source and
trail of funds for the administrative fee.
★
Christian Triantaphyllis
Catharine Yen
E B 5 I n v e s to r s M ag a z i n e
Christian Triantaphyllis is an
associate in Greenberg Traurig, LLP’s Houston office and
is a member of the firm’s EB-5
group. Christian concentrates
his practice on business immigration matters, including
representing clients on EB-5 filings pertaining to
direct investments, regional center investments,
and regional center designation. He has presented
at national EB-5 conferences and served as a Leadership Member of the American Bar Association’s
Immigration Litigation Committee. Christian can
be contacted at [email protected].
Catharine Yen is an attorney at Catharine Yen is an
associate in Greenberg Traurig, LLP’s Los Angeles
office and is a member of the firm’s EB-5 group.
Catharine is a graduate of Rice University and the
University of Houston Law Center. She is involved
in every aspect of the EB-5 process and has filed
hundreds of I-526 petitions. Catharine has also
presented and spoken at national EB-5 conferences around the
country. She is conversant in
Chinese. Catharine can be contacted at [email protected].