There are significant investment opportunities for immigrant-investors considering utilizing the EB-5 and regional center program to achieve their immigration goals. While it is possible to receive a modest return on one’s EB-5 investment, the real purpose behind making such an investment is to realize the potential immigration benefits for the investor and his or her qualifying family members. Individuals who make a qualifying investment that satisfies certain job creation requirements will receive a permanent green card for themselves and their spouse and unmarried children who have not yet reached age 21. One of the higher-profile EB-5 investment opportunities to be recently announced is the two-tower Brickell tower project in Miami’s financial district. However, an EB-5 investment must involve placing the investment “at risk.” Therefore, an unwise EB-5 investment can result in not only the loss of the opportunity to secure a permanent resident card, but also the loss of the investment capital. Therefore, all intending immigrant investors should first establish a working relationship with an experienced immigration attorney who can provide clear guidance regarding a particular investment opportunity. The experienced lawyers of Colombo & Hurd can provide perspective and advice regarding all potential EB-5 investments.
Developers Announce their Intention to Seek $350 Million in EB-5 Funding for CCCC Towers
The nearly $900 million project is being planned jointly by the China City Construction international Company (CCCC) and the American Da Tang group. Final details for the project have yet to be finalized, however project organizers have indicated that the completed towers are slated to contain a mixed commercial and residential space. The towers should be built to contain condominiums, office space, and one or more hotels. According to a representative for the project, the project does not require EB-5 financing and could be financed without the program. However, the spokesman states that this approach is being taken to “make a bridge between Miami and China [to] help them in condo sales in bringing Chinese investors to South Florida.” The hope is this project will begin to make Miami equally as attractive for Chinese investors as it is attractive for investors coming from Latin America and Europe. However, it is essential to note that this project is not being handled through the City of Miami’s EB-5 Regional Center, like how the Panorama Tower project is being handled. Rather, the project is being handled through the privately owned EB-5 regional center known as American Life Investments. Not all regional centers are likely to accomplish your goals and any foreign national considering making an investment into this project or any other EB-5 or regional center project should perform meticulous research about the company, its financial prospects, past projects, and the rate of successful and unsuccessful I-829 petitions. These and other known or foreseeable factors can be used to determine whether this or other EB-5 projects may make for a prudent investment. The experienced EB-5 lawyers of Colombo & Hurd can help facilitate this inquiry on behalf of the intending EB-5 investor.
What Conditions Must an EB-5 Project Satisfy to Confer Immigration Benefits?
In general, an intending immigrant investor must make a qualifying investment into a new or existing U.S.-based commercial venture. The invested funds must be placed at risk meaning that there is a chance for an increase and a chance for a loss. A minimum qualifying investment is $1 million unless the program is located within a targeted employment area (TEA) where the minimum required investment is set at $500,000. Furthermore the foreign national must set forth and file an I-526 petition that details how the commercial venture will create or preserve at least 10 full time jobs for Americans. After a waiting period an I-829 petition showing evidence that the I-526 petition’s plan was successfully carried-out must be filed to remove the conditions placed on the green card.
Rely on an Experienced Miami Immigration Attorney for the Entire EB-5 Investment Process
The EB-5 process for an intending immigrant investor is highly technical requiring significant amounts of legal research, legal filings, and due diligence into the activities and record of the regional center. For most intending immigrant-investors, these hurdles are significant and they are best handled with the experienced guidance of an immigration professional. To schedule a free and private legal consultation to discuss potential EB-5 opportunities in Miami, South Florida, Orlando, or anywhere in the state of Florida call the immigration attorneys of Colombo & Hurd at 800-689-7142.We have offices in Miami and Orlando and can also arrange to hold a consultation online with our EB-5 visa lawyers.