EB-5 Green Card

The United States Congress created EB-5 visas in 1990. The foreign investment program awards green cards to migrants who typically invest $ 1 million USD in a commercial enterprise that will benefit the US economy and create at least 10 full-time jobs for US workers.

Since Oct. 1, 2006, the US has approved a total of 2,500 petitions for EB-5 visas. During that time, approximately $ 1 billion has been invested in the US economy through the EB-5 visa program and an estimated 20,250 jobs have been created for US workers.

Immigrant investors who wish to participate in the EB-5 program must invest the required minimum amount of capital, establish that the investment capital derives from a legal source, and that the money is both fully invested and at risk in order to qualify. The immigrant investor must file a Form I-526, Immigrant Petition for Alien Entrepreneur. If approved, the alien is granted conditional permanent residence. Approximately two years later, the immigrant investor files a Form I-829, Petition by Entrepreneur to Remove Conditions. At the time, they must demonstrate that the investment business plan was followed, the money remained fully invested in the business, and that at least 10 full-time jobs were created for US workers as a result of the investment.

One of the newest EB-5 Regional Centers is the Lake Buena Vista Resort Village & Spa in Orlando, Florida. The three-year-old development is one of the largest condo-hotel projects in the US Located one mile from Walt Disney World, it offers all of the amenities of a first class Florida resort including fully-furnished 1,080 SF two-bedroom, two -bath condominiums; dining; a fitness center; Reflections Spa-Salon and the Pirate's Plunge Aquatic Center as well as designer shopping featuring more than 50 factory outlet stores including Liz Claiborne, Tommy Hilfiger, Vanity Fair, Reebok, Carter's and Nike.

Phase One of the Florida resort's EB-5 visa program involves the sale of 105 existing condo-hotel units to 35 investors who contribute $ 1 million each. Phase Two will target an additional 35 investors contributing $ 1 million each toward the financing of a new 152-unit building at the resort. "Through our network of international lawyers, bankers, accountants and realtors, we have experienced a high degree of interest in this program," said Sam Sutton, managing member of Lake Buena Vista Resort Village & Spa.

Source by Larry Cohen



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