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October 26, 2022

Tips for Vietnamese Source of Funds

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Issue: USCIS requests employment records from 10+ years ago.

Tips: If the investor owns their own company, we can provide:

  • Evidence of company registration.
  • Evidence in the form of leases, property records, etc. of business establishment.
  • Letters from the bank showing that banking records are not available.
  • Letters from relevant tax authorities that records are not available.

If the investor works (or used to work) for a company, we can provide:

  • If the business is closed, documentation to show the business is no longer registered or operating.
  • Affidavits from former co-workers attesting to investor's work at the company.
  • Evidence from relevant tax authorities that records are not available.

Issue: Investor transacts mainly in cash.

Tips:

  • If a business transacts in cash, we can show copies of contracts, letters from customers, an accountant's letter, etc.
  • If a home was sold and the investor received cash, the contract should discuss this, and then show the cash being deposited into the bank by the investor around the time of the sale, along with an affidavit from the investor.
  • Obtain an affidavit or letter from the seller regarding the transaction, if possible.
  • Evidence of a gold purchase, if applicable.

Issue: Funds should touch the bank account of the investor at some point prior to the transfer to escrow.

Tips: It may be possible for a 3rd party to transfer the funds to escrow on behalf of the investor; however, it is important to make sure the funds touch the investor's account at some time prior to the transfer into escrow.

  • It is always possible to use a money transfer agent to get the money into escrow; we like to document the agreement with the money transfer agent or get a letter that the agent helped transfer the money for the investor.
  • If a company helps transfer money to escrow, we can document:
    • Investor → Company in Vietnam
    • Same company in 3rd country → escrow account on behalf of investor
    • Letter from the company showing that the company helped transfer the money for the investor.
    • Provide copies of the transfer to the company in Vietnam, and if possible, also obtain copies of the transfer from the company in the 3rd country to the escrow.
  • If an individual helps transfer money to escrow, we can document:
    • Investor → individual in Vietnam
    • Same individual in 3rd Country → escrow account on behalf of investor
    • Letter from the individual that the individual helped transfer the money for the investor.
    • Provide copies of the transfer to the individual in Vietnam, and if possible, also obtain copies of the transfer from the individual in the 3rd country to the escrow.
  • Keep in mind that if the bank rejects the transfer, the funds will be returned to the account from which they came.

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