By Priscilla Oye Ofori
Accra, Oct.31, GNA – Houston EB5 has partnered 3INVEST host an Open House to showcase “The Frederick”, its most recent investment opportunity.
“The Frederick,” which consisted of a 200-room full-service luxury hotel and event centre, condominiums, multi-family rental units, and nearly 30,000 square of retail space is located in Fredericksburg, Texas, between Austin and San Antonio, the top two fastest-growing cities in the United States of America (USA).
The project, designated as a rural project allows for a minimum investment of $800,000 and a 20 percent visa set-asides for rural Targeted Employment Area (TEA) projects against 10 percent for urban TEA ones.
It was an opportunity for EB-5 investors to invest in a “world-class” real estate project in Central Texas, the fastest growing region in the United States.
Ms Ruth Obih, Managing Director, 3INVEST said the new real estate project and its priority processing designation brought another ray of hope to potential EB-5 investors.
She said the multi-use development had received EB5 Priority Processing designation ensuring the fastest possible processing times in the EB5 program.
Houston EB5, certified by United States Citizenship and Immigration Services (USCIS) as an EB-5 Regional Center, and had worked diligently to provide success for clients on I-526 and I-829 approvals.
With over 20 successful EB-5 raises and projects totaling 1.5 billion dollars in value, Houston EB5 projects sponsored more than 1,300 green cards and a 100 per cent capital repayment history.
In 1992, Congress created the Immigrant Investor Program, also known as the Regional Center Program, which sets aside EB-5 visas for participants who invest in commercial enterprises associated with regional centres approved by US Citizenship and Immigration Services (USCIS) based on proposals for promoting economic growth.
The EB-5 Immigrant Investor Programme has gone through significant changes in 2022 with the enactment of the EB-5 Reform and Integrity Act (RIA) in March of 2022.
The new law contains significant protections and transparency measures to the benefit of EB5 investors and features priority processing for investors that invest in projects outside of large cities.
GNA