As a permanent resident of US, how could I legally bring my money to the state?

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As a permanent resident of US, how could I legally bring my money to the state?

A single father, DV lottery winner and want to take my cash with me to US because I’ve decided to live there and don’t want to comeback to my country. The source of the money is clear so there will be no money laundering issues. I just want to do it in a legal way with less tax and burden issues. I live in Iran so no need to mention about US sanctions over my country. By the way, I heard that I can bring money at the first year of residency without taxes.

Asked on August 1, 2014 under Immigration Law, California

Answers:

SB Member California Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

You should consult with a CPA (certified public accountant) before you come to the US so that you understand what the issues and possible tax implications are.  You can also consult with a tax attorney in this issue.  It is best to do so before you arrive in the US so that you can prepare accordingly.


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