SAN JUAN, PUERTO RICO, UNITED STATES OF AMERICA, June 23, 2021 /EINPresswire.com/ — EB5 Affiliate Network (EB5AN), a leading EB-5 visa regional center operator and investment fund manager, announced today the immediate availability of a reduced $500,000 investment in Saltaire St. Petersburg Phase II (Loan), a premier EB-5 visa investment project.
On June 22, 2021, Judge Jacqueline Scott Corley of the U.S. District Court of the Northern District of California issued an order granting summary judgment in the plaintiff’s favor in the matter of Behring Regional Center LLC V. Chad Wolf, et al. Judge Corley’s ruling invalidates the EB-5 modernization rule implemented by the U.S. Department of Homeland Security (DHS) on November 21, 2019, which increased the minimum investment amount within a Targeted Employment Area (TEA) from $500,000 to $900,000.
“We are very pleased by the Judge’s ruling,” said Sam Silverman, managing partner of EB5AN. “Many qualified and deserving foreign investors were excluded from the EB-5 program when DHS improperly increased the minimum investment amount. Our team is excited for this news and proud to offer Saltaire St. Petersburg Phase II (Loan) for immediate subscription at a reduced investment of $500,000. However, serious EB-5 investors need to act quickly because the window of opportunity is likely to be short, potentially closing on June 30, 2021, the current sunset date of the EB-5 regional center program.”
An administrative action by DHS Secretary Alejandro Mayorkas to reinstate the rule, or legislative action by the U.S. Congress, could return the minimum investment amount to $900,000 within days. Therefore, an unprecedented short period of time exists for foreign nationals seeking U.S. residency to invest at the reduced $500,000 investment threshold.
Saltaire St. Petersburg Phase II (Loan) is a low-risk EB-5 visa investment in a high-rise luxury condominium in downtown St. Petersburg, Florida. The project is being developed by KOLTER, one of the largest private real estate developers in the United States. Construction is underway and all project financing is in place, and over 75% of the condominium units are already sold with non-refundable cash deposits. An EB-5 visa investment in Saltaire St. Petersburg Phase II (Loan) is secured by a parent-entity repayment guaranty and all investors receive an I-526 early release guaranty.
Investors seeking additional information or needing to speak with an experienced EB-5 immigration attorney about immediately submitting an I-526 petition, should send a message to firstname.lastname@example.org.
Created in 1990, the EB-5 Immigrant Investor Visa has long been a gateway to the United States for foreign nationals living abroad, as well as by those already working or studying in the U.S. on nonimmigrant visas including H-1B, L-1B, and F-1. Thousands of families from all over the world have successfully immigrated by making a job-creating investment in a U.S.-based business enterprise. The EB-5 program has facilitated billions of dollars of foreign direct investment into the United States and created tens of thousands of jobs over the last three decades.
EB5 Affiliate Network is an internationally known EB-5 regional center operator, investment fund manager, and consultancy that has facilitated more than $1 billion of investment under the EB-5 Immigrant Investor Visa program. EB5AN works with real estate developers and firms in multiple industries to create high-quality investment offerings throughout the United States, which are sponsored by its network of 14 USCIS-approved regional centers that cover all or parts of more than 20 states and the District of Columbia. EB5AN’s investment funds serve immigrant investors from more than 60 countries with a portfolio of low-risk investments in world-class real estate development projects.
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Source: EIN Presswire