A: Eventually your friend needs to wire the money from his personal account to your personal account.
For any money that your friend plans on using from any of his business accounts, we need to see a contract of some type where a transaction occurred showing how he earned that money that is in his bank account. If possible, we would like to see the contract and if there are any customs or duties tax payments on the contract. As much documentation as possible showing a contract in which he earned the money.
For example, we want to submit each transaction separately. We will give you a hypothetical of what we would want to submit to US CIS to show how the EB – 5 gift transfer was earned legally. Contract between shipping company A and shipping company B for the amount of $150,000. Upon the purchase of four large containers, by shipping company B, which will then wire $150,000 to shipping Company A’s Business account.
The $150,000 earned in this contract was then wired to Mr. X’s Personal bank account.
As you can see in the above example, the EB 5 source of funding needs to be tracked from a legal transaction. Gifted funds from a friend does not legalize the source of funding. We need to prove to US CIS how the friend was able to obtain the EB 5 funds through a legal source.
***Andrew P. Johnson, a New York Immigration Lawyer, practices immigration law and has litigated immigration cases throughout the country. His office handles all immigration issues and problems. The Law Offices of Andrew P. Johnson has submitted proposed regulations for Congress in order to help streamline the USCIS. In addition, Andrew P. Johnson, has been invited to speak in front of United States ambassadors and United Nations ambassadors regarding all aspects of immigration law. The law office can reach for comments regarding Immigration Reform at 212.693.3355 or email@example.com.