Eb-5 Regional Centers Can Ensure Immigration

EB-5 Regional Centers Thrive in New York, Texas

Popularity of EB-5 Regional Centers with Chinese Immigrants

The EB5 immigration program allows people from all over the world to come to the United States in order to invest in job creation and job preservation. This program initially provides a restricted Green Card, then an unrestricted Green Card and allows immigrants to eventually gain U.S. citizenship. This program has been particularly popular among the increasing numbers of upwardly mobile Chinese investors. Since investors are able to gain U.S. citizenship as part of the EB-5 program, they may be willing to accept a lower rate of return on their investment funds initially, and this makes the program a very popular source of capital for developers in the U.S.

Projects in New York

While there are EB5 regional centers throughout the United States, several high profile projects are located in New York. One plan is investing $77 million for redevelopment of the Battery Maritime Building. Another problem is investing $200 million in City Point, a mixed use development plan for Downtown Brooklyn. Yet another project is worth approximately $70 million and is redeveloping the retail part of the George Washington Bridge bus station. Immigrants are allowed to obtain their EB5 visas by investing a minimum of half a million dollars in existing regional centers, but they may also choose to invest a minimum of one million dollars in their own start-up in the U.S.

Projects in Texas

A Regional Center in Dallas, Texas has attracted over $120 million from foreign investors under the EB5 program and is expected to create thousands of new jobs in that city. One project provides expansion funds for a local restaurant chain, while another helps fund a call center facility. Another EB-5 Regional Center project is creating two affordable assisted living facilities and another is funding redevelopment of a downtown Dallas historic building that is to become a "boutique" hotel. The Dallas airport has benefited indirectly from EB-5 funding, recently adding regular flights to both Taiwan and China.

Future of the EB5 Regional Center

Both local economies and the overall U.S. economy benefit from the new jobs created under the EB5 program, and from the fact that new U.S. residents spend money, pay taxes, and spur creation of new businesses. Investment under the program doubled from 2010 to 2011, bringing in $1.25 billion in 2011. It also created over 25,000 new jobs in the U.S. In 2012 and future years, the EB5 program is expected to save or create 100,000 jobs annually. And the program costs the U.S. taxpayer nothing, since it is funded by the fees paid by investor-immigrants.

Learning More about Regional Centers and the EB-5 Program

The EB5 program sounds like a dream come true for immigrants, and in many cases it is exactly that. However, like every form of immigration, success depends on filing the correct paperwork, having the proper funds in escrow on time, and fulfilling numerous legal obligations throughout the process. Fortunately, increasing numbers of EB5 consultants are available to help immigrants choose a Regional Center in which to invest, and to ensure that paperwork and documentation are in order so that the conditional Green Card can be granted.

by: Joe Sloboda

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