CanAm Issues Statement on EB-5 Immigrant Program Modernization Final Rule: Minimum Investment Increases to USD 900,000
- By NewsOnFloor Staff
- Dec 04, 2019
- 96 views
The EB-5 Modernization Final Rule becomes effective today, raising the minimum investment amounts in the EB-5 Program to $900,000 and $1.8 million within and outside TEAs, respectively. The leading regional center operator, CanAm, will continue to provide high-quality, job-creating projects to EB-5 investors at the lower, $900,000 investment level.
CanAm Enterprises (“CanAm”) announces that, with the amendment by U.S. Citizenship and Immigration Services (USCIS) of its policy guidance to align with the EB-5 Immigrant Investor Program Modernization Final Rule, which became effective on November 21, 2019, the EB-5 Immigrant Investor Program has undergone several significant changes that will dramatically alter the landscape of EB-5.
The new regulations bring the following key changes to the EB-5 Immigrant Investor Program:
- The minimum investment amount increases to $900,000 in Targeted Employment Areas (TEA);
- The minimum investment amount increases to $1,800,000 for investments outside Targeted Employment Areas;
- The regulations revise the methodology for determining high-unemployment areas; and
- The Department of Homeland Security will now be responsible for designating TEAs.
Following the aforementioned changes, CanAm would like to confirm to its investors that it will continue to operate with high integrity and follow its core values in sourcing project offerings that meet all of the new requirements. CanAm will continue to work hard to deliver an exceptional experience and results for its investors.
“There is no doubt that the new regulations will be a game-changer for all of us. We have actually been preparing for the past few years – since the spectre of either legislative or regulatory reform was first raised. CanAm has been in EB-5 for almost twenty years, so we’ve seen it go through lots of changes. While the new regulatory changes raise the minimum investment amounts and affect the standards for TEAs, we are confident that we will continue to provide high-quality, job-creating projects to our investors,” said Tom Rosenfeld, President and CEO of CanAm Enterprises. “Our goals always remain the same – to maximize the likelihood of our investors achieving their immigration benefits while preserving their capital,” Mr. Rosenfeld added.
“CanAm operates as an independent regional center operator which is not associated with any particular developer, as such we have the flexibility to continue to source high-quality EB-5 projects even under the revised Targeted Employment Area standards – so we can provide investment opportunities at the lower, $900,000, amount,” added Walter Gindin, Director, In-house Immigration Counsel at CanAm Enterprises.
Prospective investors pursuing permanent residency in the United States are invited to read CanAm’s EB-5 Program Overview and inquire about the EB-5 Visa options.
Source : business-wire-india