EB5 Investors Magazine - Page 56

Continued from page 53 As noted at a stakeholder’s meeting conducted at the California Service Center, OFAC has expressed the view that involvement of SDN bank terminates at the juncture where the funds “rest” in a non-SDN bank, noting that at said juncture, the SDN bank no longer has an interest in the funds. However, USCIS utilizes a more stringent standard and has denied EB-5 cases where funds traveled through an SDN bank. Therefore, USCIS appears to take a more broad approach in determining the legality of funds from Iran. For example, when the pool of funds involves sale of a real estate, which at some point was secured by a bank on the SDN list (which is not at all uncommon), is USCIS going to challenge “legality