• Ways to transfer 500,000 (five lakh dollars) to US for investment.

I want to apply for EB5 visa to US for my family. For that I need to invest $ 500000/- in a business there. I am planning to take Rs.3 crore loan from a bank. A individual can transfer $ 75000/-  in a financial year. I will divide Rs. 3 crore in my family in seven parts. Then each of family member will transfer about $ 71500/- in my US account. By doing this am I violating any regulation including FERA regulation. Can my family members transfer money given/ borrowed from me in my US account.
Asked 4 years ago in Business Law from Khanna, Punjab
You can easily bear consultation fee so it will be better to contact a lawyer personally
Nadeem Qureshi
Advocate, New Delhi
4916 Answers
228 Consultations

4.9 on 5.0

USCIS administers the Immigrant Investor Program, also known as “EB-5,” created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. Under a pilot immigration program first enacted in 1992 and regularly reauthorized since, certain EB-5 visas also are set aside for investors in Regional Centers designated by USCIS based on proposals for promoting economic growth.

Capital means cash, equipment, inventory, other tangible property, cash equivalents and indebtedness secured by assets owned by the alien entrepreneur, provided that the alien entrepreneur is personally and primarily liable and that the assets of the new commercial enterprise upon which the petition is based are not used to secure any of the indebtedness. All capital shall be valued at fair-market value in United States dollars. Assets acquired, directly or indirectly, by unlawful means (such as criminal activities) shall not be considered capital for the purposes of section 203(b)(5) of the Act.

Note: Investment capital cannot be borrowed.

since you are borrowing from bank for your investment capital of rs 3 crores you dont meet the requirements .
Ajay Sethi
Advocate, Mumbai
47925 Answers
2846 Consultations

5.0 on 5.0

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