San Antonio companies work to form EB-5 regional center
Two real estate companies in the San Antonio area are working to form an EB-5 regional center.
Brass Real Estate Funds and Magi Real Estate Services recently held a seminar for immigration lawyers and personal finance managers, making their intention to form an EB-5 regional center clear, according to the San Antonio Express.
The EB-5 visa program was created as a way to attract foreign investment to U.S. businesses. If a foreign national invests $1 million (and in some specially designated areas, $500,000) and that investment leads to the creation or preservation of 10 jobs, then the investor becomes eligible for a U.S. green card.
EB-5 regional centers help direct and manage these foreign investments.
The proposed EB-5 regional center would focus on investing in office buildings, shopping centers, apartments and healthcare operations, reports the news source.
Both of the real estate companies are owned by chairman and CEO Rick Rodriguez who says that the possible EB-5 regional center would focus more on preserving jobs, rather than creating them.