GIFTING FUNDS WITH PROPER DOCUMENTATION Younger EB-5 applicants who may not yet have significant personal savings often rely on financial support from family members in the form of gifts. This process involves more than simply transferring funds to the applicant. U. S. Citizenship and Immigration Services( USCIS) requires a clear and lawful source of funds, not just from the investor but also from the family member providing the gift. This means the giver must submit detailed financial documentation demonstrating how they legally earned or acquired the funds they
Transferring funds to the applicant’ s U. S. bank account must adhere to India’ s annual remittance limit of $ 250,000 per financial year intend to gift. Documentation providing the SOF usually includes:
• Bank statements confirming the deposit and accumulation of funds transferred to the investor
• A gift deed or affidavit confirming the gift is irrevocable and does not require repayment.
Additional supporting documents may be required depending on the source of gifted funds, such as tax returns, business records, property sale deeds, or other evidence demonstrating how the benefactor lawfully acquired the funds. SENDING MONEY ABROAD After the funds are sourced, a second challenge arises when the funds are in India: Transferring funds to the applicant’ s U. S. bank account must adhere to India’ s annual remittance limit of $ 250,000 per financial year.
The minimum EB-5 investment requirement of $ 800,000 necessitates a coordinated and well-documented approach. To consolidate the funds before transferring them to the EB-5 project, applicants can rely on multiple relatives, including spouses, parents, grandparents, siblings, aunts or uncles, to remit funds to the applicant’ s US bank account.
Each transfer must be accompanied by supporting documentation, including bank statements confirming each deposit and transfer, and transfer affidavits from every remitter. The affidavit should clearly state their identity, their relationship to the applicant, and the purpose of the remittance( i. e., the transfer of funds for the applicant’ s EB-5 investment).
Additionally, USCIS may require additional personal identification documents to verify the remitter’ s identity, such as a valid state-issued ID, passport, or birth certificate, which confirm details like full name, date of birth, place of birth, and citizenship.
A FAMILY MATTER Navigating the EB-5 process as an Indian family involves more than just investing in a business. It demands careful planning, clear communication, detailed documentation, and a clear understanding of U. S. immigration requirements and
India’ s remittance regulations.
When families take the time to thoroughly understand the importance of verifying sources of funds through detailed documentation, properly document gifts, and manage cross-border transfers, they can use the EB-5 program as a powerful tool to help secure permanent residency not just for themselves, but for future generations as well.
With the long wait times and backlogs in many other visa categories, this family-centered, collaborative approach can make the EB-5 route a more accessible and attractive option, helping Indian families create a solid foundation for a brighter future in the U. S.
JACQUELINE TREVINO
Jacqueline Trevino is an Immigration Associate Attorney at PSBP Law, where she focuses on EB-5 investor visas and the documentation of investment funds. She leads the firm ' s Source of Funds team and oversees a range of family- and employmentbased immigration matters.
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