If somebody living outside his home country wins a lottery or amount out of a draw in a promotion, will these funds be considered suitable for an EB-5 investment? Can the funds be transferred to the regional center account directly from the foreign country?
Answers
Ed Beshara
Immigration attorneysPersonal investment funds sourced from lawful sources can be used in an EB-5 project regardless of the location of the source of funds.
Oliver Huiyue Qiu
Immigration attorneysLottery, as long as it is publicly held and legitimate without any signs of foul play, is considered lawful source of income. Therefore, the earnings from a lottery draw could be used as a source of lawful investment for EB-5 purposes. As for the route, it could be transferred directly from the foreign country where such lottery is held to the regional center, provided the investor also qualifies as an accredited investor under Reg D or is exempted from such.
John J Downey
Immigration attorneysAs long as you can show the funds were obtained legally, there should be no problem. Transfer of funds depends on the laws of your country.
Salvatore Picataggio
Immigration attorneysAny legally obtained funds (like a state or country sponsored lottery or contest, or perhaps a private contest with proper authentication) could be the basis for the EB-5 investment. This area is complicated so retaining U.S. immigration counsel is critical.
Sufen Hilf
Immigration attorneysThe fund can be used for EB-5 purpose if the receiving of the lottery fund in that country is legal for the investor, and if the fund is under the name of the EB-5 investor''s name who has complied with the laws of the country.
Lynne Feldman
Immigration attorneysAs long as you can show the funds were acquired lawfully they can be used. Living outside the United States is the norm and is not a problem for an EB-5 investor.
Ian E Scott
Immigration attorneysFunds obtained from winning a lottery may be used for an EB-5 investment. For the source of funds documentation, you would provide proof that you won the lottery and the transfer of the money to your account. Funds can be transferred to the regional center from any country as long as the funds come from your personal account.
Kyle Barella
Immigration attorneysYes, lottery winnings - provided they come from a lawful source - may be used to make an EB-5 investment. You may also transfer money from a foreign country to a regional center.
Matthew Kolodziej
Immigration attorneysYes, these funds may be suitable. The funds must be from a lawful source. The funds may be transferred to the regional center from abroad.
James Cai
Immigration attorneysYes, of course, so long as the lottery winning is legal and you keep a good paper trail.
DISCLAIMER: the information found on this website is intended to be general information; it is not legal or financial advice. Specific legal or financial advice can only be given by a licensed professional with full knowledge of all the facts and circumstances of your particular situation. You should seek consultation with legal, immigration, and financial experts prior to participating in the EB-5 program. Posting a question on this website does not create an attorney-client relationship. All questions you post will be available to the public: do not include confidential information in your question.