EB5 Investors Magazine Volume 2 Issue 2 | Page 10

Continued from page 7 If such a transaction has already taken place, it can be remedied by requesting that the regional center refund the administrative fee to the investor and then directing the investor to re-wire his administrative fee from his personal bank account, all the while showing that the funds came from the same bank account where he receives his well-documented personal funds, such as salaries and bonuses. Or, to avoid such time-consuming maneuvering, attorneys can advise their clients to ensure that the source of the administrative fee meets EB-5 requirements and the de facto requirement that the source of the administrative fee be properly documented before filing their application. Furthermore, in order to document the source of the administrative fee, several of our clients have been successful in submitting a signed letter to USCIS, along with supporting evidence, stating that the source of their administrative fee originated from their salary and savings, just as the investor’s capital contribution originated from his salary and savings. Trends indicate that USCIS will inquire about the source of the administrative fee, so it is important to consider this when paying any fees. Conclusion Based on our reading and analysis of the regulations and Immigration and Nationality Act (INA), USCIS should not be questioning the source of funds for the administrative fee because it is not part of the capital investment, which is the component of the transaction subject to USCIS scrutiny. However, in practice, USCIS is closely examining administrative fees and 8 it is still advisable for investors, agents, and regional centers to ensure that the investor’s administrative fee comes from his own personal bank account. Additionally, the investor will need to attest and evidence how he obtained lawful funds for the administrative fee. Until USCIS follows the regulations and INA, EB-5 attorneys should be prepared to document the source and trail of funds for the administrative fee. ★ Christian Triantaphyllis Catharine Yen E B 5 I n v e s to r s M ag a z i n e Christian Triantaphyllis is an associate in Greenberg Traurig, LLP’s Houston office and is a member of the firm’s EB-5 group. Christian concentrates his practice on business immigration matters, including representing clients on EB-5 filings pertaining to direct investments, regional center investments, and regional center designation. He has presented at national EB-5 conferences and served as a Leadership Member of the American Bar Association’s Immigration Litigation Committee. Christian can be contacted at triantaphyllisc@gtlaw.com. Catharine Yen is an attorney at Catharine Yen is an associate in Greenberg Traurig, LLP’s Los Angeles office and is a member of the firm’s EB-5 group. Catharine is a graduate of Rice University and the University of Houston Law Center. She is involved in every aspect of the EB-5 process and has filed hundreds of I-526 petitions. Catharine has also presented and spoken at national EB-5 conferences around the country. She is conversant in Chinese. Catharine can be contacted at yenc@gtlaw.com.