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The immigration act of 1990 creates employment-based visa program EB5. Allocates 10,000 visas annually. For more information please visit: http://goo.gl/fwBTxm
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The Immigration Act of 1990 creates Employment-Based visa program EB-5
Allocates 10,000 visas annually Requires foreign nationals to
invest $1 million ($500k in Targeted Employment areas) and form a new enterprise that creates 10 full time jobs Grants two year conditional
green cards that convert to permanent status when investment and Job creation criteria are met
PBRC (2008): 1st in Florida USA RC’s (2008): 24 USA RC’s (2015): 900+
Congress modified EB-5 in 1993 to include a pilot program for Designated Regional Centers
Allocates 3,000 visas annually (of 10,000 total) Same investment
requirements Permits employment creation
either through jobs generated directly by the enterprise or indirectly through the multiplier effect of DRC Same Green Card benefits
EVOLUTION OF THE EB5 VISA IMMIGRATION ACT
REGIONAL CENTER REQUIREMENTS Capital funds must be
derived by lawful means New enterprise must benefit
the U.S. economy New enterprise must create
full time employment - 35 hours/week minimum for each worker
Investor must have a policy- making role in the new enterprise
Focus on a geographic area Growth via Export Sales, if applicable Promote improved regional productivity Create 10 direct or indirect jobs Increase Domestic Capital Investment Positive impact on household earnings Promote, market, publicize to investors Generate greater demand for business services, maintenance, construction
A Regional Center must: Administer, oversee and manage the regional center such that
it monitors “all investment activities” under the center’s sponsorship
Maintain records, data and information on a quarterly basis in order to report it to USCIS upon request year to date for each federal fiscal year.
Intersection Of Securities Laws And The EB 5 Program
The SEC definition of a “security” is broad and EB-5 investments may include or may be exempt from the registration requirements under the Securities Act. Nonetheless, all anti-fraud provisions still remain applicable to even those exempt offerings.
Capital Raising Entity (CRE) Investor Active in CRE CRE contracts with Project Company
Minimum Investment $1,000,000
Minimum Investment in a Targeted Employment Area (TEA) $500,000
TEA: Geographic area with unemployment rate 150% of the national unemployment rate.
RC Role: Sponsorship only Annual filing I-924A
REGIONAL CENTER
Third party CRE (may also be PC)
sponsors Pays rent and Provides info
Third party PC (if separated from CRE) May / not be related
Does not sponsor a separate PC
Markets own offering - or -
Marketing Company Markets offering
offering
offering
OVERSEAS INVESTORS
RC does not itself serve as CRE or PC – it only sponsors CRE offering. RC is not affiliated with CRE or PC – trey are 3rd parties to it. Because of RC sponsorship, the CRE (or CRE/PC) may count indirect job creation. In return for sponsorship, the CRE pays rent and provides quarterly information to the RC. Marketing of the EB-5 Offering overseas is conducted by the CRE or by an an independent third-party marketing consultant – NOT by the RC. ** Minimal risk to RC. No control by RC **
RC Role: Both Sponsorship and Marketing
REGIONAL CENTER Annual filing I-924A Including this project
CRE is RC affiliated and controlled
sponsors Pays rent and Provides info
Third party PC Receives offering proceeds
uses to execute project NOT RELATED
offering OVERSEAS INVESTORS
RC is affiliated with and controls the CRE and sponsors the CRE offering. CRE provides info, pays RC rent (even though affiliated): may count indirect job creation. PC is a third party to RC and CRE. May pay development fees to RC. Marketing of the EB-5 Offering overseas is conducted directly/in- by the RC. In return for marketing the RC is paid a marketing fee by the CRE.
related Marketing fee
THE EB-5 INVESTOR PROFILE
O P T I M A L T I M E L I N E F O R I M M I G R A N T I N V E S T O R
C U R R E N T T I M E L I N E F O R I M M I G R A N T I N V E S T O R
ANTICIPATED OUTCOMES
Notes: Investor Outcome • acquiring permanent resident status Government Outcome • access to foreign capital Project Outcome • access to capital
PBRC Application Approved September 2008 Amendments Approved April, June and July 2010
1. Transportation Facilities and Infrastructure; 2. Warehouse and Cargo Terminals; 3. Biotechnology and Related High Technology Manufacturing; 4. Solar Panel Manufacturing; 5. Water Treatment Plants; 6. Office Buildings; 7. Hotels; 8. Film and Television Production; 9. Renewable Energy Technologies; 10. Health Care Facilities; 11. Financial Services; 12. Agricultural Activities; and 13. Restaurants.
;
Applications to allow contiguous counties of a Regional Center are approved without amendment pursuant to: USCIS May 30, 2013 Policy Memorandum and PM-602-0083: EB-5 Adjudications Policy
100% I-526 SUCCESS RATE CREATING JOBS FOR FLORIDIANS
HOSTED BY PALM BEACH REGIONAL CENTER USCIS APPROVED
Operating unit in Miami Real Estate-backed Business ($10M)
Operating unit in Miami ($10M)
Ongoing multi-phased project 2 Operating units in Broward County Phase I Sold Out Phase II Launched Phase III Pre-launch ($6.5M to-date)
Ongoing multi-phased project Phase I Launched in Broward County Initial Operating Unit in Construction ($4M)
13 operating units located in Florida and Tennessee – 10 new units being built in South Florida ($10M)
S E R V I C E A G R E E M E N T S S I G N E D S E C U R I T I E S S A L E D A T E S T B A
S E R V I C E A G R E E M E N T S I G N I N G D A T E S T B A
Safe Haven Regional Center = $100M The Fountains Continuing Care Campus= $163M Centreal Terra = $10M
Mixed Use Commercial Development and Free Trade Zone Movie Studio Community Redevelopment Agency
Florida Trend July 1, 2009 PBRC Contracts With Its Service Providers In the Areas of: Securities Law Securities Broker-Dealer Economic Studies Immigration Law EB 5 Business Plans GIS Mapping
palmbeachregionalcenter.com