EB5 Visa Investors

[Enoch Benjamin]

I have a few contacts abroad who are interested in investing in real estate to get a foothold in the good ole USA. I have peaked their interest by bringing up the EB5 Visa program. I only have a cursory understanding of the program and was wondering if anyone has had any experience(s) using a foreign investors capital to buy property while granting them qualification for the visa program.

Any input would be helpful.

Thanks in advance.

[Matt Curtis]

I'm an immigration attorney, so I have to mention that what I'm saying here cannot be taken as legal advice. I'm just chiming in to let you all know that the EB-5 program is not coming to an end, far from it. I think the confusion exists due to the congressional activity surrounding the regional center "pilot program", which some thought might have been eliminated on September 30th. However, the program was extended as part of a continuing resolution and will be up for review December 9th (this has happened several times in the past). Basically, the program is continuing without change for the time being.

I'm currently authoring a blog post which will discuss the proposed changes, particularly as they relate to the real estate investment community. Many of the provisions in the draft legislation are subject to debate, but the EB-5 community across the board pretty much agrees that the provisions increasing the minimum investment amounts from $1m ($500k in a targeted employment area) to $1.2m ($800k in a TEA) are going to make it through.