EB-5 Source of Funds: A Nigerian Investor’s Guide

Joshua Godin
Jul 2
3 min read

The $800,000 question: Where did your money come from?

That’s one of the most critical questions in the EB-5 investor visa application and it’s where many applicants get stuck.

The U.S. government won't accept any investments that cannot be proven, they will ask if your money was earned legally, documented properly, and can be fully traced back to a legitimate source.

In this blog, we’ll walk through how Nigerian investors can prepare a strong Source of Funds (SoF) report and avoid the common pitfalls that lead to delays or denials.

Why Source of Funds Matters So Much in EB-5

EB-5 is a powerful path to a U.S. green card. But because it involves large financial transfers, it’s closely watched by U.S. immigration, banking, and anti-money laundering agencies.

You must show:

Where the money originated
That it was lawfully earned or acquired
That you have control over the funds
That the money was transferred through legal, trackable channels

If USCIS sees gaps in your financial story, or documentation that doesn’t add up, you’ll get an RFE (Request for Evidence) — or worse, a denial.

What Qualifies as a Legal Source of Funds?

Here are the most common acceptable sources for Nigerian investors:

Business profits (with audited statements and tax filings)
Employment income (W-2s, payslips, or contract summaries)
Sale of property or land (with deed, valuation, and proof of sale)
Dividends or investment returns (bank records and tax statements)
Gifts from family (with declaration and donor’s SoF proof)
Loans (with collateral and formal agreements showing repayment terms)

✅ Important: You can use multiple sources — but each one must be clearly documented.

How Nigerians Can Document Their Funds

U.S. immigration law does not require you to be rich by U.S. standards — just transparent. Here’s how Nigerian investors can build a strong case:

Get tax records where available
While Nigeria’s tax infrastructure can be inconsistent, having filed returns — even if recent — builds credibility.
Keep clean bank records
Transfers must be traceable. Avoid unexplained large cash deposits. Use formal banking channels for all EB-5-related activity.
Provide sale or ownership documents
Selling land, a house, or a business? You’ll need evidence of ownership, valuation reports, and sale agreements — ideally notarized.
If using a gift, prove both ends
You must show not only the gift transfer, but also how the donor earned the money.
Use a professional SoF report
Most EB-5 applicants use an immigration attorney or SoF specialist to compile the financial history in a clear narrative — with translations, valuations, and professional formatting.

Common Pitfalls Nigerian Investors Should Avoid

Untraceable cash deposits
USCIS is strict about “mattress money.” If it can’t be explained through a paper trail, it won’t be accepted.
Incomplete gift documentation
A simple letter from your uncle isn’t enough. They need to show where they got the funds.
Confusing transfers across accounts
If money moves through multiple accounts or relatives, document each step — or risk delays.
Waiting too late to organize documents
Many Nigerian EB-5 applicants lose time (and money) trying to scramble for documents after filing. Prepare your SoF before you start.

What a Strong EB-5 Source of Funds File Looks Like

✔️ Clear narrative summary explaining all fund sources

✔️ Bank statements covering deposits and transfers

✔️ Legal documents (deeds, sale contracts, shareholding certificates)

✔️ Proof of taxes paid (if applicable)

✔️ Currency conversion records (Naira to USD)

✔️ Any required translations or affidavits

📁 Pro tip: USCIS isn’t looking for perfection. They want consistency, logic, and legality because a clean record is the objective here.

What Happens If You Get an RFE?

If USCIS requests more evidence about your source of funds:

Don’t panic — many applicants get RFEs.
Work with your attorney to answer every question clearly and directly.
Avoid emotional appeals or irrelevant details.
Stick to new documents and clearer versions of your originals.

RFEs can be overcome — but they cost time and legal fees. A strong SoF package reduces the risk dramatically.

Clarity Is Your Greatest Asset

For Nigerian investors pursuing the EB-5 visa, your money is just the start — your paper trail is what really matters.

Don’t let poor documentation or last-minute scrambling put your green card at risk. Start early. Get expert help. Tell a clean financial story from start to finish.

Learn more about our EB-5 Green Card Program here: https://www.investmigrate.com/programs/useb-5-green-card-program