Part of the tediousness of the EB-5 Program is obtaining the EB-5 required documentation.
With the growing number of EB-5 Program applicants from Mainland China, the present visa backlog, and the upcoming EB-5 Program expiration date at the end of September, it's more important than ever to get your application in as soon as possible.
Here is the EB-5 required documentation every principal investor will need to acquire when preparing to file their I-526 Petitions. (In addition, all the documents and records below must be translated into English.)
First, EB-5 applicants need to collect personal background information.
The principal investor will need to provide USCIS with copies of any relevant professional paperwork in order to show that they earned or accumulated their wealth through business or some other profession. When proving that they earned their wealth, EB-5 investors should make copies of documents such as school transcripts, income tax documents, business or career documents, or records of property sales.
If they did not earn their wealth, they should show through documentation that they inherited their wealth.
Second, EB-5 applicants must provide proof of a lawful source of income.
The EB-5 Program requires investors to invest a minimum of $500,000 into a new commercial enterprise that creates jobs. To prevent fraud within the Program, USCIS requires all investors to provide proof that the funds they're using to invest in a new commercial enterprise came from lawful sources.
Whether the money came from their business, a gift, inheritance, stock market, or the selling of their home or other property, adequate records must be submitted with their EB-5 application.
These records may include as many as 5 years worth of include income tax returns, business ownership records, business permits and licenses, financial transaction statements, titles on property, and contract records.
Even if the money used came from an inheritance or a gift, the money must still be tracked and proof of lawful sources must still be provided. Keep detailed records in order to avoid application denial or the need to submit additional proof that can then hold-up your application processing time.
EB-5 immigration attorneys can advise EB-5 investors on what additional documentation is needed to submit with their particular application.