|
Over the past
O decade, Vietnam has consistently ranked among the top countries with the highest number of EB-5 investors. Education opportunities, long-term security, and prospects for a stable future have driven many families to commit significant financial resources— often the entirety of their accumulated wealth— to begin a new life in the United States. Yet, in recent years, a growing number of Vietnamese investors have encountered unexpected challenges at the final stage of the EB-5 process: the I-829 petition to remove conditions on permanent residency. Several applications have been issued Requests for Evidence( RFEs) or Notices of Intent to Deny( NOIDs) due to project-level issues such as insufficient job creation,
|
delayed construction, or stalled operations.
These complications are particularly painful for families who have already established themselves in the U. S. for two years, whose children are fully integrated into American schools, and who have limited financial options remaining in Vietnam. w
This article examines the dual pillars of the EB-5 process— Source of Funds( SOF) and I-829 adjudication— and how recent developments have created new risks for Vietnamese investors. More importantly, it highlights the lessons learned and the steps all investors should take to safeguard their immigration and economic future.
THE SOURCE OF FUNDS REQUIREMENT: A FOUNDATION THAT MUST BE UNSHAKABLE
|
In every EB-5 application, whether at the I-526E stage or the I-829 stage, the applicant must demonstrate that the capital invested is lawful, traceable, and earned or acquired through legitimate means. While this requirement has always existed, recent years have seen heightened scrutiny— especially investors from countries with complex economic environments, informal lending culture, and limited documentation availability.
1.1 What USCIS Expects USCIS typically requires clear and comprehensive evidence that shows:
• The origin of the money
• The path the money took before being transferred into the EB-5 project
• The legitimacy of each transaction
|
• The tax compliance associated with the original earnings
For many Vietnamese investors, income sources may include real estate sales, private business profits, accumulated savings, or loans from family members. While these are all acceptable sources, the supporting documentation can be challenging to compile if the financial history spans many years or if transactions were conducted informally.
COMMON WEAKNESSES IN VIETNAMESE SOF DOCUMENTATION The following issues frequently appear in EB-5 SOF reviews involving investors from Vietnam:
• Real-estate transactions without complete sale agreements or payment receipts
• Business income records lacking audited financial statements
|