Company seeks partnership with EB-5 Northeast Regional Center
Seaway Valley Capital Corporation has outlined the terms of a business agreement with ACG Consulting for the purpose of developing the EB-5 visa program in the Northeast.
The EB-5 visa program allows foreigners to invest in U.S. businesses, and if a certain number of jobs are produced, the investor is eligible for a green card.
Much of the program is administered by a number of regional centers, which manage the projects in which foreigners have invested. Seaway Valley is seeking to obtain a 49 percent interest in a regional center that would cover New York, Connecticut, Massachusetts, Vermont, New Hampshire and Maine.
The proposed deal would raise $30 million in capital for Seaway Valley and, as the minimum investment in the EB-5 program is $500,000 the EB-5 investment opportunity could allow 60 foreigners to receive their green cards.
“Seaway Valley has been exploring the formation of a Regional Center and related capital raise for over fourteen months, and partnering with ACG Consulting will help us accomplish this goal,” said chairman and CEO Thomas Scozzafava.
Regional Centers can be corporations, private enterprises or government agencies and give foreigners an outlet to find investment opportunities.