U. S. Property Developers Using EB-5 Visa Program to Fund Projects

by Isaac Benmergui, Esq on November 19, 2012

With banks still wary of funding major construction projects, U.S. developers are turning to the EB-5 Visa Program, sponsored by U.S. Citizens and Immigration Services, a part of the Department of Homeland Security.

The EB-5 Visa allows developers to pull together foreign investor funds into a limited partnership, then invest the capital into projects approved by the USCIS.

Typically the investments are in a high-unemployment or rural area. The investment amount is $500,000 and the program allows indirect job creation. In FY 2011, 90 to 95 percent of foreign investors used the program, due to the lower investment amount and the relaxed job creation requirement.

The EB-5 program has been around for about 20 years, but it really started to take hold in the last five years. One of the most advantageous aspects of the EB-5 Visa is there are no limits on them and without limits, there is no backlog. The South Florida real estate development market makes good use of the EB-5 Visa Program. Throughout the country there are 250 regional centers to service the EB-5 program; in Florida alone, there are 20.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

 

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