USCIS administers the federal EB-5 program, which allows any foreign investor to obtain a Green Card, or Conditional Permanent Residence, for an investment of $500,000 into a USCIS-approved project that creates and sustains at least 10 jobs.
Depending on the project and its terms, EB-5 investors can make this a loan-based passive investment and opt to receive their funds returned within 5 years with a small annual interest.
Due Diligence Completed on a Project with Expedited Status
- Generally, requests to expedite EB-5 visa applications are approved only in the case of national interest, humanitarian need, or emergency situations. There have only been a handful of EB-5 projects who have obtained this special status since the beginning of the program, and it will be offered to EB-5 investors for a limited time only.
- The project is a World-Class Equestrian Center with sponsors such as Longines, Rolex and Land Rover, and where the families of high profile families such as the Gates’, Bloomberg’s and Jobs’ take their horses to train and compete on a regular basis. The World Equestrian Games of 2018 (FEI 2018) will be held here in September of 2018, over 500,000 spectators are expected.
- For EB-5 families that are in the US on H visas, F visas, E visas, L visas or any other type of non-immigrant visa, they would conveniently be allowed to adjust their status from inside the US and receive a permanent residency approval within 90 days.
- All EB-5 investors that subscribed to this project have been approved in less than 90 days. EB-5 investors that subscribe to any other EB-5 project shall be subject to United States Citizenship and Immigration Service’s (USCIS) constantly changing processing times, currently at 25 to 32.5 months (https://egov.uscis.gov/processing-times/#mainContent).
- Beneficiaries include the petitioner’s spouses and unmarried children under the age of 21. Generally speaking, it is not required to immediately move to the US upon approval of a Green Card. Most of our clients obtain a Green Card through the EB-5 program to be able to travel freely in the US, open and maintain successful business ties and many families enjoy living, studying and working there
Key Highlights
- The project has received an Exemplar Approval (pre-approved by USCIS)
- The project has received an Expedited Approval and was designated as being in the interest of National Security because of its regional economic impact (the last EB-5 investor was approved in 42 days)
- The project has been operating for over 3 years and is 65% completed
- The project has an 80% job cushion (80% more jobs than necessary)
- Bank of America has given the project a $46 million construction loan and the project owners have invested well over $160 million of their own capital to-date
- The Regional Center, aside from being an independent entity than the Project Owner/Developer, is headed by an internationally-recognized Advisory Board, including the Presidents of Yale University and Biltmore Farms
- An estimated 3,000+ EB-5 jobs have already been created
- The project has a Construction Completion Guaranty
- The project has received numerous public grants
- The project is owned and operated by the managing partner and majority owners of the world’s largest and highest profile equestrian sports and entertainment business operator
