What was once scarcely used as a source of development financing now has a waiting list. Condominium projects, and more recently hotels and even restaurants, are increasingly turning to EB-5 investors to fund their construction and business expansion.
“It’s very difficult to get financing,” said Roger Bernstein, an immigration attorney who heads the EB-5 For Florida Regional Center. He said the tight lending environment is motivating developers and entrepreneurs to explore alternative financing like EB-5. The visa program grants permanent U.S. residency to investors and their immediate family members if they create at least 10 domestic jobs and invest a minimum of $500,000 in U.S. real estate projects.