EB-5 (Employment Base Fifth): Immigrant Investor Program
The EB-5 visa is a way to get your green card and permanent residency through investment. The EB-5 investor visa program enables foreigners who make an investment in a U.S. business to obtain a green card and become lawful permanent residents, and potentially citizens, of the United States. The investment can lead to a green card for the investor to permanently live and work in the United States with their spouse and unmarried children under the age of 21.
The program was established by the United States Congress in 1990 to facilitate increased investment in the U.S. economy. The EB-5 visa program is operated by United States Citizenship and Immigration Services (USCIS). US Government has allocated 10,000 EB-5 visas annually.
Depending on the location of the investment, there is either a USD $1,800,000, or USD $900,000 capital investment requirement. Current visa processing time is 32 months, plus an additional 4 months for consular interview.
No English language requirement
No age restriction
No minimum education requirement
No management or business experience requirement
Net worth requirement of USD $1,000,000 (excluding primary residence) or high annual income
Investment capital can originate from gift, loan, property sale, business income, or any lawful source
May apply for US citizenship after at least 5 years of residency
Live, work or retire anywhere in the United States
The required investment amount is either $900,000 or $1.8 million, depending on which project you invest in. If you invest in a targeted employment area (TEA) the investment is $900,000, and if you invest elsewhere the minimum required investment is $1.8 million.
Investor must be able to document the legal source and path of funds for investment amount (USD $900,000) and costs (USD $98,675). These costs include government application fees and all legal fees (e.g. I-829 condition removal fee).
Each investment must create at least 10 direct or indirect jobs in the USA for at least two years (Phase I of our project has received Exemplar status, which pre-approves job creation).
Each approved Investor, his/her spouse, and dependents will obtain conditional US residence visas. After 2 years, the lawyer will apply for condition removal.
Hyatt Fort Lauderdale Phase II
- The 46-storey development will contain 238 luxury hotel rooms, and 113 condominium units.
- The hotel will operate under the well-known Hyatt brand.
- Construction began in 2016, and will be completed in 2020.
- 11 EB-5 units available, at USD $998,675 (includes $900,000 investment, $20,000 legal for both I-526 and I-829, $75,000 administrative, and $3,675 I-526 government fee).
- Phase II has 28 total investment units (11 at $900,000, and 17 at the previous $500,000 investment level).
- Job creation requirement (10 jobs per investor): Phase II (280) + Phase I (800) = 1,080 jobs required. Jobs already created: 1,787 (exceeds requirement) + future jobs: 739 = 2,526 total jobs.
- The total project cost is USD $226M: the developer will contribute $61.9M in cash equity and pre-sales; financing will supply $123.9M; and Phase I EB-5 investors’ capital will supply $40 million. Phase II EB-5 investors’ capital ($18.4M) will replace 8% of the developer’s equity. There is no minimum EB-5 raise required.
- Applicant receives back $990,000 after 5 years (full principal and 2% annual interest), so the applicant’s net cost is just $8,675. (It may take longer for Vietnam-born investor to receive due to long visa waiting time)
Development is in Fort Lauderdale, one of the biggest tourist destinations in southern Florida (part of the Miami metropolitan area) and known for its beaches and boating. Florida is the 4th most populated state in the USA, with more than USD $815 billion in personal income. Florida is the 4th largest economy in the USA, and 18th largest in the world and there is over 126 million tourists visited Florida in 2018.
- The project owner and developer, the Kolter Group, is a highly accomplished real estate developer based in West Palm Beach, Florida. It has developed over USD $15B in projects in the last 27 years.
- The Kolter Group offers an I-526 denial guarantee, and construction completion guarantee.
- The owner of the Kolter Group is the 100th richest person in Canada, with an estimated net worth of $835 million.
- The owner of the regional center (EB5 Affiliate Network) is very experienced, and owns 15 regional centers across 28 states.
- EB5 Affiliate Network has received multiple I-924 exemplar approvals for previous EB-5 projects with the Kolter Group.