My parents have a high-value house, which they obtained legally. Could they use it as collateral to borrow money from their bank in Turkey and give it to me as a gift to make an EB-5 investment?
Answers
Bernard P Wolfsdorf
Find EB-5 Visa Lawyers: Immigration Attorneys DirectoryYes, if parents get a mortgage and gift money to you, it's fine. They may have to show how they legally earned funds to purchase the home.
Lynne Feldman
Find EB-5 Visa Lawyers: Immigration Attorneys DirectoryYes they can. You will need to show the lawful source of funds for them and to you.
Kripa Upadhyay
Find EB-5 Visa Lawyers: Immigration Attorneys DirectoryYes, but your parents will also need to provide complete financial documentation as to the source of funds to purchase the home initially. Also, the path of funds, that is, how did the money go from their account to yours and then to the investment account (example, Regional Center bank account) will need to be fully documented. An experienced EB-5 attorney would be able to help guide you on the documents you and your parents needs to provide to ensure that USCIS does not reject the I-526 for a failure to fully document the source and path of funds.
Yuliya Veremiyenko-Campos
Find EB-5 Visa Lawyers: Immigration Attorneys DirectoryYes, your parents can obtain a loan secured by the house and gift you the money. In such case, your parents will need to document the lawful source and pathway of funds used to purchase the house.
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