Guidelines for Financing Foreign Nationals
{Standard Rates Used}
- Insurance policy to be financed must be from a life insurance company domiciled in the U.S. or Canada.
- Minimum Net Worth of $5Million U.S. dollars or equivalent.
- If a Trans Union is not available for the insured, a foreign credit report may be required.
- Insured must provide at least one of the following;
- Valid U.S. Drivers license
- Valid Passport from issuing country
- Insured must have at least one of the following;
- U.S. Tax I.D,
- SSN
- WB-8BEN completed or present a current WB-8BEN that is not more than 36 months old
- EB-5 approval or certification
- Insured must meet one of the following:
- Owning real estate in the U.S. (verifiable)
- Owning a business in the U.S. or working for a U.S. Company (proof of employment required)
- Having financial assets held in the U.S. for at least six months prior to credit application (verifiable).
- US based assets to substantiate the size of the loan (proof of assets will be needed, brokerage statements, etc.).
- Insured must provide personal financial statements.
- Insured must provide two years of tax returns from the Foreign National’s domiciled country and the U.S. if any.
- Policy Owner & Beneficiary must have at least one of the following:
- U.S. Tax I.D,
- SSN
- WB-8BEN completed or present a current WB-8BEN that is not more than 36 months old.
- Borrower must be either a:
- U.S. Based Trust (approved by FIFC) with a U.S. FEIN. FIFC requires:
- Complete trust documents provided for review and approval.
- U.S. Based Company with a U.S. FEIN. FIFC requires:
- 2 years U.S. Federal Tax returns
- 2 years FYE accountant prepared financial statements
- Most recent interim financial statement (internally prepared is
acceptable)
- Articles of incorporation and by-laws of company.
- Additional Collateral Pledge must be based with a U.S. financial firm acceptable to FIFC. Acceptable forms of collateral:
- Certificate of Deposit or MMA
- Letter of Credit with evergreen provision
- Diversified Brokerage Account containing U.S. investments.
- CONSENT TO JURISDICTION will be required.
