June 2018 - LCP Group



June 2018

Live In America EB-5 Newsletter

Live In America EB-5 forms partnership with Coldwell Banker.

Live In America EB-5 is pleased to announce that it has entered into an agreement with real estate leader Coldwell Banker that will aid us in helping EB-5 investors and their families make quality-of-life decisions in their relocation to America. That process would include determining where in America the family should live to best enjoy their cultural and recreational interests, the residential real estate picture there and what’s available for home consideration, what business and economic factors should be considered in that area, and direct them to resources for evaluating area schools and what unique educational opportunities are available to families who may have special qualifications.

Live In America EB-5 representatives working with emigrating EB-5 investors will make them aware of specific elements of the relationship with Coldwell Banker that can maximize their enjoyment of the new life they are about to make happen. One of the elements is that a Live In America EB-5 client who buys a home or rents an apartment through Coldwell Banker will receive a 15% rebate on the buyer’s agent’s commission and may also be eligible for a cash bonus in the event that Coldwell Banker secures a mortgage for the purchase of a home (subject, in all cases, to applicable law).
Coldwell Banker is one of the most recognized real estate brands in the world and has prime properties for EB-5 families to consider in virtually every American community. Coldwell Banker is part of Realogy, a Fortune 500 holding company that owns several well-known real estate brands including Sotheby’s.

USCIS to take Final Action on Proposed Regulation for the EB-5 Program in August 2018?

The U.S. government recently published a regulatory agenda indicating that USCIS will take final action on the EB-5 Immigrant Investor Program Modernization rule in August 2018.  Part of the proposed rule includes an increase in the required EB-5 investment amounts from $500,000 to $1.35 million in Targeted Employment Areas (TEA) and from $1 million to $1.8 million in a non-TEA, among a host of other reforms.

On May 9, 2018, the Office of Information and Regulatory Affairs published the Spring 2018 Unified Agenda of Regulatory and Deregulatory Actions, which includes the following two proposed EB-5 regulations listed under the agency of Department of Homeland Securities (DHS)/United States Citizenship and Immigration Services (USCIS):

  1. Estimated Notice of Proposed Rule Making (NPRM) in March 2019 for “EB-5 Immigrant Investor Regional Center Program”
  2. Estimated Final Rule Stage in August 2018 for “EB-5 Immigrant Investor Program Modernization”

Among the proposed changes, which will affect all future EB-5 investors once the rules become effective, are new minimum investment amounts and targeted employment areas (TEA) definitions.

Minimum Investment Amount

  • Under the current regulation, an EB-5 investor is required to make a capital contribution of $1,000,000 unless the new commercial enterprise where the capital is invested into is principally doing business in and creates jobs in a targeted employment area, in which case, the investor must invest a minimum of $500,000 in capital.
  • However, the new rule proposed $1,800,000 for a non-TEA and $1,350,000 for a TEA.

Targeted Employment Area

  • Under the current regulation, a TEA is a rural area or an area that has experienced high unemployment of at least 150 percent of the national average rate. An investor is required to submit, among other evidence, a letter from the state government designating a geographic or political subdivision located outside a rural area but within its own boundaries as a high unemployment area to demonstrate that the TEA meets the statutory and regulatory criteria.
  • According to the new rule, USCIS would determine which areas qualify as TEAs by applying new standards contained in the proposed rule to evidence presented by petitioning EB5 investors and regional centers, removing the state designated authorities, to ensure consistency in TEA adjudications.

This new agenda came after Congress failed to pass EB-5 legislative reform earlier this spring. On March 23, 2018, President Trump signed the Omnibus Appropriations Act for Fiscal Year 2018, which included a clean extension of the EB-5 program until September 30, 2018.

There are still several steps in the process before the proposed rules become effective and it remains to be seen whether these new estimated action dates will be more reliable than previous deadlines. To learn more about the pending EB-5 regulations and how it may affect your path to permanent residency in the United States, simply reply to Live In America EB-5 (info@liveinamerica.us) or schedule a call with one of our senior managers by providing your contact information.

45 Broad Street: Live In America EB-5’s Latest Project

Construction of Live In America EB-5’s latest EB-5 project is moving forward with full force following the groundbreaking ceremony at the site, 45 Broad Street, in lower Manhattan. This 1,115-foot tower is being developed through a joint venture between real estate development firm Gemdale USA Corporation, Madison Equities, and the Pizzarotti Group.  Upon completion, 45 Broad Street, a mixed-use 80-story building, will have approximately 206 condominium units and eight floors of commercial office space. This high-end luxury building boasts amenities such as a beautiful 75’ indoor lap pool, and a state-of-the-art gym and fitness center.

Live In America EB-5 is proud to announce that it is actively working in conjunction with Gemdale USA Corporation, Madison Equities LLC, and Impresa Pizzarotti to raise EB-5 funds for the construction and development of what will soon be known as the tallest residential building in lower Manhattan.

Please read more here: New York YIMBY, “Excavation Begins for 45 Broad Street, Downtown’s First Residential Supertall”