Bond Real Estate Presentation to Real Estate Brokers and Agents
Bond Real Estate
- Congress created the EB-5 Program in 1990 in order to stimulate the U.S economy through job creation and capital investment by foreign investors;
- Initially, it was created as a direct investment vehicle whereby foreign nationals that is the EB-5 investors, would invest $ 1 million in a project of their own or if the project were in a rural jurisdiction or in an area that experienced high unemployment then the required investment would be half of that at $ 500,000. This kind of area is called Targeted Employment Area, commonly known as TEA.
- On November 21, 2019, the amounts were increased to $900,000 for TEA and $1.8 million for non-TEA EB-5 projects. On June 22, 2021, a lawsuit challenging these new EB-5 regulations was successful, as Magistrate Judge Jacqueline Scott Corley of the U.S. District Court for the Northern District of California ruled that the regulations were not lawfully promulgated because the then-acting Department of Homeland Security (DHS) secretary Kevin McAleenan was not properly serving in his position. So, we are back to the $ 500,000 investment amount now but the program lapsed on June 30th. We expect the program to open up again in September and stay open for at least a couple of weeks. Potential investors who could get ready now with their paperwork will most likely be able to lock in this historically low, reduced amount of $ 500,000. We will talk more about this later on in our session.
Marko Issever, America EB5 Visa
Michael Lulkin, Gold Abstract Services
Bond Real Estate
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