The EB-5 Immigrant Investor Visa Program is an American government (USCIS) project created in 1990 that allows foreigners and their family (under 21) to obtain the permanent residence of the United States through a 900,000 or 1,800,000 USD investment in the country (plus management fees).
• When approved, bestows conditional permanent residency.
• Valid for 5 years, then eligible for US Citizenship.
• No requirements other than financial investment.
• EB5 Visa also applies to the applicant’s spouse and unmarried children under the age of 21.
In today’s article, we discuss the most common financial/ legal structure for the EB-5 Visa applicant’s capital investment into an American development; how BAI Capital differs by offering a more personal and streamlined process; and highlights of some of our past EB-5 projects
Most EB-5 petitions are facilitated by a third party company who allocates the investor’s capital into one of several available TEA approved EB-5 job creation projects, which are most often real estate developments. The EB-5 firm acts as a private intermediary between the immigrant-investor and the US government – USCIS (U.S. Citizenship and Immigration Services).
The traditional EB-5 set-up works most of the time, but as most of you are aware, not always. With large mega companies offering a plethora of TEA approved EB-5 projects, the applicant at times gets lost in the mix, and is often seen as just another number.
What is missing in many EB-5 management companies is the personal connection with their clients, and an ongoing professional relationship with the real estate developer.
Few EB-5 firms work with the same developer repeatedly; even rarer is to find an EB-5 Consultant who is also the developer and/ or who also invests in the same development funds as the prospective immigrant.
In the case of BAI Capital, we can tick off all 3:
2010 YEAR FOUNDED 12 NUMBER OF YEARS MANAGING EB5 CLIENTS 69 NUMBER OF EB5 PETITIONS / APPLICANTS 9 NUMBER OF COUNTRIES OF EB5 APPLICANTS 9 TOTAL EB5 VISA PROJECTS 1958 TOTAL U.S. JOB CREATION IMPACT $34,500,000 USD TOTAL FUND RAISE BY EB5 CLIENTS $13,680,000 USD TOTAL FUND RAISE BY NON EB5 INVESTORS
*as of December 31st, 2020.
Here are some summary details on some of our more recent TEA approved projects
Description Design by renowned architectural firm Carlos Ott and Frankel Benayoun, the building reflects their unique award-winning style and refined sense design. The Highlands is a boutique building with only 60 residences including penthouses with private roof-top terraces. Surrounded by lush greenery, The Highlands is located in one of the most sought after areas of Miami, North Miami Beach. Easy access to mayor highways and the beautiful Miami beaches.
Location 13810 Highlands Drive, North Miami Beach, Florida
Managing Entity Blue Road LLC General Partner of EB5 Investors Highlands Miami EB5 LLLP by Become American Investor LLC BAI Role EB5 Manager Developer Nicover LLP Regional Center Florida First Regional Center LLP Counselor Attorney Greenberg Traurig
Project completion date Fully built in January 2020 Funding status Fully funded and built Total capital raised $27,340,142 By EB5 Investors $10,500, 000 Jobs created 328
Description The Park Hotel is a top-tier, four star, 71 room hotel located in South Bronx, New York City, New York. The building will stand 10 floors tall with 8 hotel rooms per floor and amenities to include a landscaped terrace, restaurant and bar, fitness center and parking garage for 56 cars.
Location 2558 Park Avenue, South Bronx, New York City, NY
Managing Entity Trise Development Corp General Partner of EB5 Investors Park Hotel South Bronx EB5 Preferred Equity LLLP by Become American Investor LLC BAI Role EB5 Manager
Developer Trise Development Corp
Regional Center New York City EB-5 LLC Counselor Attorney Greenberg Traurig
Project completion date Fully built Feb 2021 Funding status Fully funded Total capital raised $29,000,000.00 By EB5 Investors $3,000,000.00 Jobs created 248
Description The Palms is a boutique development that conjures a relaxing lifestyle of luxuries and indulgences. A place that invites you to embrace life and harmony in an enchanting island neighborhood.
The contemporary design of renowned architect Frank Benayon gives sophistication and taste to the Palms, which features 42 residential units with integrated first-rate kitchens, impressive floor-to-ceiling windows and ample scenic balconies.
Location 1133 102nd St, Bay Harbor Islands, Florida
Managing Entity Blue Road LLC General Partner of EB5 Investors Palms Miami EB5 LLLP by Become American Investor LLC BAI Role EB5 Manager Developer BH Bayview LLC / Blue Road LLC Regional Center Florida First Regional Center LLP Counselor Attorney Greenberg Traurig
Project completion date Fully built in June 2018 Funding status Fully funded and built Total capital raised $18,812,768 By EB5 Investors $8,000,000.00 Jobs created 230
Number of EB5Investors 7
Most recently, BAI Capital is branching out into project development, while still staying true to our EB-5 consultancy roots.
Archer Place is a new TEA approved upscale condominium and luxury student housing development, available as an property, equity and EB-5 immigration investment for a select few participants.
The Archer Place project is located in Gainesville, Florida, the medical and college hub of the Sunshine State.
The target residents of Archer Place are the student base of the University of Florida and Santa Fe College, and the health professionals and their families who work in the area.
The health and education sectors are two of the few real estate markets that have held steady and/ or grown during the COVID pandemic.
The immigrant investor looking to immigrate to USA via the EB-5 Program should partner with the consultant who can both properly manage their financial investment, but also facilitate the success of the Green Card petition with full confidence. At BAI Capital and Archer Place, we administer both facets of the process.