hope74 Posted November 27, 2012 Report Share Posted November 27, 2012 I am a permanent resident. Can I lend $500 K to my parents, with their property in India (worth more than twice as much) as collateral, to be invested in a regional center. Will this be an acceptable source of capital? Link to comment Share on other sites
JoeF Posted November 28, 2012 Report Share Posted November 28, 2012 No. Link to comment Share on other sites
Attorney_23 Posted November 28, 2012 Report Share Posted November 28, 2012 It is difficult to use loans for EB5 purposes, especially those secured by property located overseas. A simpler solution (from an immigration law perspective) would be to purchase $500,000 worth of property from them (which you could presumably sell back to them at a later date, if you so wished.) The end goal is for the funds to be in your parents' possession with no strings attached, which means even a gift of the funds is permitted. (This is not to say a loan is impossible, but I would generally recommend against it for a variety of reasons.) I always encourage people who are serious about using the EB-5 program to first consult with an attorney. This is one of the more complicated areas of immigration law, and it seems unwise for a person to invest $500,000, yet avoid spending a tiny fraction of that to hire a competent attorney to better ensure they end up with a green card at the end of the process. We have several attorneys here at the Murthy Law Firm with experience in this area. Feel free to schedule a consult with us by calling us at 410.356.5440 between the hours of 9:00am and 5:00pm (ET). Link to comment Share on other sites
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