Cleveland regional center has support of mayor
When participating in the EB-5 visa program it is vital to wisely pick an EB-5 investment opportunity that will fulfill the requirements of the visa. One EB-5 regional center in Ohio appears to have a strong grasp of the project selection process.
The Cleveland International Fund (CiF) is one of nearly 100 EB-5 regional centers in operation in America, according to the U.S. Citizenship and Immigration Services (USCIS). It is one of three EB-5 regional centers in operation in Ohio and as such presents foreign nationals a chance to invest in the Buckeye State.
The EB-5 visa program was created in 1990 by Congress to help attract foreign capital to America by offering U.S. green cards to foreign nationals who make a significant investment in an American business. If a foreigner invests $1 million in a U.S. business and that investment leads to the creation or preservation of at least 10 jobs, the investor becomes eligible for their green card.
Shortly after the EB-5 visa program was started, the Regional Center Pilot Program was started to further help foreign nationals find wise EB-5 investment opportunities in America. Regional centers are defined as “economic unit, public or private, which is involved with the promotion of economic growth, improved regional productivity, job creation, and increased domestic capital investment,” according to the USCIS website.
Some regional centers, like the CiF, are in Targeted Employment Areas (TEAs), which are distinguished by an unemployment rate that is higher than the national average. Only a $500,000 investment is required in such areas.
The CiF focuses on projects that involve hospitals, commercial real estate and even film production. To select which project it will undertake the CIF uses economic modeling to ensure that it will create more jobs than are necessary to fulfill each EB-5 investor‘s requirements, as well as several other checks to be certain it is a wise investment.
Supporting the efforts of this particular EB-5 regional center is the mayor of Cleveland, Frank G. Jackson, who understands the importance of CiF’s success for the city and surrounding area.
“By considering the CiF and its opportunities, you are also participating in our region’s rebirth and you will have the opportunity to make an essential contribution to our future and become a part of our historic and diverse community,” he wrote in a letter to potential investors found at CiF’s website.
So foreign nationals who are looking for an EB-5 investment opportunity in the heart of America, might be smart to consider getting involved with the CiF.