Investors from Central and Latin America can benefit from participating in the EB-5 Immigrant Investor Program, such as being able to legally reside in the U.S. and eventually obtain citizenship. Before meeting with an EB-5 attorney and submitting an application, though, there are a few important factors for potential investors from these regions to take into consideration.
Proof of Lawfully Obtained Funds
Investors who apply to the EB-5 program must show proof that they were able to obtain the money for their investment by lawful means. This can be a problem for investors from Central and Latin America, where only a low percentage of the population maintains accounts with banking or other financial institutions. Investors from these regions should keep this in mind when applying for an EB-5 visa, and take steps to ensure that they have financial records or bank documentation for the funds they plan on using for their investment.
Limitations on Foreign Exchange Currencies
Restrictions and limitations on foreign exchange currencies can cause complications for investors in Central and Latin America who are trying to obtain an EB-5 visa. Some countries in these regions have restrictions that force investors to remit funds for their investment in smaller installment payments, which can make the EB-5 process much longer. In other countries, investors might not be allowed to remit the full amount required for participation in the EB-5 program.
U.S. Immigration Law
Investors from Central and Latin America who plan on participating in the EB-5 program must make sure that they are in compliance with immigration law in the U.S. Those who travel frequently to and from the U.S. on another type of visa, such as a B-2 visa to visit family or take vacations, can potentially run into problems with immigration officials due to questionable conduct when applying for the EB-5 program. For example, investors with a visitor or tourist visa who own property in the U.S. could be found to be in violation of their visa terms. Ensuring proper and complete compliance with U.S. immigration law is essential in order to avoid having an EB-5 application rejected.
If you are interested in participating in the EB-5 visa program or if you need help with your application, a qualified EB-5 attorney can provide you with valuable assistance. Call the law offices of David Hirson & Partners at 949-383-5358 to learn more.