For all seeking to get a piece of what the US property market offers in terms of good yield and also visa for residence in the country, it is good news that EB-5 investment amount has returned to $500,000.
The return of the investment amount to its previous value followed a court ruling recently by the US Northern District Court of California, vacating the November 2019 Modernization Regulations which raised the amount to $900,000.
The court ruling averred that the decision to increase the minimum EB-5 investment amount from $500,000 to $900,000 must be vacated as the USCIS Acting Director lacked the authority at that time to issue that regulation.
The EB-5 Visa is an immigrant investor programme that allows eligible investors and their family members to obtain permanent residency in the United States through an investment of $900,000 or more. The programme leads to green card.
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The benefit of the programme is that it gives opportunity to an individual to invest capital that builds a future for himself and his family. As an investor, the individual can bring his spouse and children under 21 years to live in the US.
Ruth Obih, CEO, 3invest Limited and a Houston EB-5 partner in Nigeria, explained in a statement at the weekend that, at the moment, prospective investors have until June 30, 2021 at the earliest or September 30 at the latest (key USCIS Sunset dates) to secure a spot in an EB-5 project at the $500,000 investment level.
“While everyone in the industry is unsure how long this ruling will remain effective, it is clear that for a short period of time you can invest $500,000 to become eligible for an EB-5 green card,” Obih said, urging that “you engage a US immigration attorney to begin working on source of funds if you are in a position to invest soon.”
There are already two projects at the $500,000 investment level in which investment could be made. These are The Allen,a luxury mixed-use development, and Moderno porcelain works Hub and showroom.
The Allen has 35 percent of condominium units pre-sold, 80 percent of retail pre-leased, under-construction, 4 percent preferred return for 3 years, accrued, and 2 percent share in project’s profits.
Investors can get Moderno in six locations; it offers 4 percent preferred return for years 1-2, and 5 percent preferred return for years 3-5. Corporate project guarantee is provided and there are no redeployments.
Depending on what happens on June 30, this project could be one of the only EB-5 opportunities that qualify. It can be paired with an E-2 visa.
