Following Block of China Visas: EB-5 Updates, Visas Spread

Following Block of China Visas: EB-5 Updates, Visas Spread

| Jan 25, 2016 | EB-5

Chinese, USA and Shengen European visas in passports

Significant growth of the EB-5 program can be attributed to the contributions of Chinese investors throughout recent years. However, downturns in the Chinese economy over the last year have led to many reductions in the number of EB-5 visas issued to Chinese investors. Furthermore, the issuances of EB-5 visas to Chinese investors has stopped, as explained by Parisa Karaahmet. Take a look at some of the most recent EB-5 updates on where the EB-5 program’s greatest influence will expand beyond China.

Asian Market Concerns

Recently, Vietnam has greatly expanded in terms of potential investors. Unfortunately, investors have routinely used income or the sale of assets as rationale for an EB-5 investment. Additionally, Vietnamese investors must take an additional step in transferring money from Vietnam to the US, which usually occurs through a foreign financial institution or by friends and family. When considering the implications for this extra step in the certification process of I-526 petitions, it’s not difficult to see where Vietnamese investors may run into problems.

South American Investors

Depending on the country, investors in South America may find themselves in unusual situations for reporting income. For example, Brazilian investors are commonly able to produce specific documentation of tax records. However, Venezuelan individuals, who must also pay taxes by law, may have transferred money outside of the country in order to prevent the tracking of such monies by the Chavez government.

Exceptions to Local Tax Regulations

Tax regulations in countries around the world vary, and Country A may provide exceptions for reporting of income and assets if certain criteria are met. For example, in Turkey, earned income that is paid in a form of foreign currency is not necessarily required to be reported on income tax returns. As a result, and the EB-5 attorney may be needed to help figure out what needs to be obtained and from where.

 

The EB-5 program continues to expand, regardless of the problems in China, and EB-5 investors face many challenges in EB-5 updates to the funding documentation. Fortunately, an EB-5 attorney can help with the painting and filling out the paperwork for much of these requirements. To learn more about funding documentation requirements, contact the Law Offices of David Hirson & Partners, LLC through the online contact form or by phone at 949 383 5358.