EB-5 News Archive for June, 2011
The Florida Regional Center Partners with the City of Jupiter and Breaks Ground on Harbourside Place
Jupiter, Florida – The City of Jupiter, along with the Florida Regional Center, broke ground recently to mark the start of construction of the $144 million Harbourside Place, an ambitious new waterfront property located in the heart of Jupiter, FL. Harbourside Place will feature an outdoor amphitheater and river walk, retail space, restaurants and eateries, office sites, hotel accommodations, and marina slips. The first phase is expected to be open in less than a year and the entire project by October 2013. The construction and operation of Harbourside Place will create more than 900 jobs directly within the city of Jupiter, as well as a projected 1,500 indirect, ancillary jobs.
“It will be a major economic boost for the area. It’s going to bring to the area about 900 direct jobs just on the project itself,” said Nicholas Mastroianni, manager of Allied Capital.
The ground breaking ceremony, led by Mr. Mastroianni and Mayor Karen Golonka, was attended by a number of local government officials, Moss Construction Management, and a variety consulting firms, all of whom helped to bring the long-anticipated project to fruition.
For more information on the project, please contact Fred Burgess & Joe Sloboda at (954) 727-9800 or via email at firstname.lastname@example.org
According to the United States Citizens & Immigration Services (USCIS) there were 1,955 initial applications for conditional permanent residency made in 2010. Of those applications approximately 165 were denied.
When asked by our clients why USCIS would deny an application it is impossible for us to give one blanket answer that will cover all of the possible reasons why an application would be denied, however we can give some examples of typical reasons USCIS may not approve an I-526 application.
The most typical reasons for denial seem to be that the Applicant cannot or has not been able to prove the lawful source of funds being used for the investment. Remember that a key factor in you being eligible to participate in the EB-5 Investor Visa Program is that you must be able to prove where you obtained the $500,000 USD or $1 Million USD being used for the investment. Some of our clients from Iran, China, Russia and Vietnam for instance have had challenges when providing proper records and documentation of the source of their investment funds. This is why it is critical to work with professionals that have the experience needed to guide you in gathering documents that are acceptable to USCIS in proving these sources of funds and in perhaps engaging with well-known international accounting firms to prepare a proper “Source of Funds” report that is acceptable to USCIS. Over the last 3+ years we have worked with people from many different countries, all with their own challenges that need to be addressed and documented in the proper manner and we can help you as well.
It is very important for your EB-5 Consultant to review your potential eligibility for the EB-5 Visa Program. If you are considering the EB-5 Investor Visa Program as the path to help you and your family in obtaining permanent residency in the United States please contact Fred Burgess or Joe Sloboda from Exclusive Visas for more information on how we can help you by sending an email to email@example.com
Making the decision to invest $500,000 USD into a company located thousands of miles from your home can be a very concerning decision to make and can leave a person with many sleepless nights. However when we discuss this decision with clients from China, Russia, India, Vietnam, Venezuela, Great Britain or Mexico the three most common concerns are . . .
- Will the project I invest into create enough jobs to make my green card permanent?
- How can I be sure I will get my $500,000 USD returned to me at the end of the agreed upon investment period?
- Is there a possibility of making any return on my investment, regardless of how minimal?
It is critical to look at how reasonable it will be for the EB-5 Regional Center and the EB-5 Project to provide successful answers to these questions and many others when considering investment into an approved EB-5 Project, while at the same time looking beyond the flashy marketing materials and not simply taking the advice of the “salesman” who may be receiving a hefty commission for you investing into the EB5 Project.
There are many factors that need to be taken into account when considering investment into an EB-5 Regional Center and EB-5Project. If you are considering to enter into the Immigrant Investment Program as a route to obtain Permanent Residency in the United States and would like more information on how this program may meet your personal goals then please contact Fred Burgess or Joe Sloboda by sending an email to firstname.lastname@example.org or by calling +954-727-9800
Using the EB-5 Visa as an alternative to the L1, E2 and H-1B Visa so you don’t have to leave the United States
We often find ourselves talking to a new client who is currently living in the United States under the provisions of an existing visa, however these other visa options most typically do not provide permanent residence or green card status.
Often these clients are calling us because they are finding themselves in a very precarious situation. Perhaps their business is failing, or perhaps they simply want to retire and most commonly one of their children is about to turn 21 years old regardless of the reason they would like to stay in the United States and avoid having to return to their home country.
While the EB-5 Investor Visa has been available since 1990 in most cases it was perhaps not an option the client could consider previously. Primarily due to financial restrictions or perhaps they simply did not know that the visa was available to them when they originally immigrated to the United States. The fact of the matter is that the EB-5 investor visa is an option that can be considered by many people wishing to relocate to America or perhaps wishing to change their current immigration status and obtain permanent residency. However there are many issues that must be considered before one rushes into applying for the EB-5 Visa and simply doing research on the internet can be a very risky proposition.
If you are currently residing in the United States under an alternative visa program such as the L1, E2, H1-B, F or even O visa and would like to consider the EB-5 Visa as a way of obtaining permanent residency in the United States for you and your family please contact the Fred Burgess or Joe Sloboda from Exclusive Visas by email at email@example.com or call +954-727-9800 for a free consultation
When considering the EB-5 Investor Visa program some clients will ask if they should only consider a project that has a 100% success rate of creating the required 10 jobs per investor so that the conditions can be removed from the conditional green cards – this can also be referred to as a 100% approval of I-829 applications. The problem with this requirement is that it is not very likely that as a current investor you will have the opportunity to invest into the same project that has had the success of creating all of these jobs.
When considering the EB-5 investment it is critical to understand that every Project being offered (even if offered by the same Regional Center) is different from previous projects. What may have been successful in creating enough jobs over the past 2 years may be very different from the current project that is being offered. You also need to consider how reasonable it is for these additional jobs to be created in this same geographic area.
A Regional Center is in a rural area with a low population and has had two very successful previous offerings (Phase 1 and Phase 2) and has resulted in numerous successful I-526 approvals and is now providing successful I-829 approvals
The previous two phases must create enough jobs that are equal to almost 10% of the local population
The newest (or third Phase) must create more jobs than the first two phases combined
How likely is it that this current EB-5 Project and Regional Center will be able to create more jobs than 15%-20% of the local population?
This is just one of the concerns that must be considered when blindly considering a Regional Center based on past approvals of I-526 and I-829 applications.
If you would like more information on how the professionals at Exclusive Visas can help you in the research of the EB-5 Investor Visa program please email Fred Burged or Joe Sloboda at firstname.lastname@example.org or telephone us at +954-727-9800