Ping. Following. It doesnāt make sense to me that āonly the person listed on the bank accountā can apply, because presumably your spouseās name and your childrenās names would not be on any other bank account you open either, so why would they restrict the GV in this case?
Was this just a āguessā by your attorney, or have they actually applied and been told that other family members are disqualified somehow?
Hi all
Yes thatĀ“s possible, I know that International Atlantic Services already provided that service for several clients.
Hi Everyone - Valuable insight into using SDIRA to invest into PGV, thank you allā¦ We are thinking of using my IRA and Iām curious, has anyone applied to include his/her spouse on the application? Where the spouse will be benefiting from the investment activity, is not the owner of the IRA account. In that case, wouldnāt the ādisqualified personā (spouse) clause come into the equation, thus creating potential issues? Any thoughts?
Thatāsā¦ odd. Even if youāre using a bank account full of cash to make your GV investment, there is usually only one person named on the account used for the GV, and that person can include their spouse and children on the GV application. Thatās how the GV works: one person is the main person and the spouse and children (and potentially, elderly parents/in-laws) piggyback on that main personās application.
Why would that change if you used a 401k or IRA as the vehicle?
My guess would be because each family member needs to prove a direct relationship with the investor. In this case, the investor is an LLC, so no direct relationship.
Has anyone had the discussion with Mercan about if using IRA funds to obtain a Visa has been approved by the IRS against the exclusive benefit clause?
It seems like a pretty grey area that I would hope someone has explored already.
No. The investor is the GV applicant, and they can invest either directly as a private individual or through an LLC of which he/she is the shareholder. It does not change nothing for how the subsequent family reunification applications are made. The family reunifies with the main GV applicant, not with an LLC.
I think a couple people have done it, you should be able to find a thread on it in here. But either the IRS nor the Labor department have weighed in on the matter. Personally, it feels untested. Iām a little more risk adverse and decided to not use IRA funds.
El El vie, 8 nov 2024 a las 18:41, Brad via Nomad Gate Community <email@community.nomadgate.com> escribiĆ³:
Iām new to this profile, but thereās some great dialogue here! I noticed that some were actively pursuing some clarity related to using SDIRAs to fund the golden visa program and whether doing so violated the Exclusive Benefit Rule. Has there been any progress on this front that someone can share? It would be great to have a formal IRS ruling, but I have not come across anything concrete.