EB-5 Investor Funded Projects
In Guam May Benefit Greatly From
New, Additional Local Tax Incentive
Guam’s growing tourism industry has prompted the local government to offer generous tax incentives to developers in a bid to increase the island’s inventory of hotel rooms over the next four years.
After another record-breaking year that saw more than 1.5 million visitor arrivals in 2015, tourism officials expect Guam to reach the 2 million annual visitor mark by 2020. But more hotel rooms will need to be built to accommodate them all.
Under the Qualifying Certificate Program administered by the island’s Economic Development Authority, developers of hotel properties may be eligible for a tax rebate, exemption, or abatement of up to 10% of their total construction cost.
1,600 new hotel rooms will be eligible for the tax incentive. Local news media is reporting that based on several hotel projects already in the planning stages, the 1,600 room target will likely be achieved ahead of schedule.
Among the projects mentioned in a recent TV news story about the special tax incentive is one that will utilize EB-5 investment money in partnership with the Guam Strategic Development Regional Center.
Wangfang construction is partnering with Guam Strategic Development to allow EB-5 investors to participate in the building of a 300-unit resort condominium on the island’s Pago Bay. Owners of individual condo units will have the option to lease them for tourist occupancy through a professional management company.
It would be the first major development of its kind on Pago Bay. The plans have been before the Guam Land Use Commission for some time and formal action is expected very soon. After that the limited number of EB-5 investment partnerships available for this project will go to market.
Click here www.guameb5.com and be among the first to learn details of this investment opportunity, to receive a free copy of our guidelines to completing the USCIS Investor Questionnaire, and a personal email notice when this opportunity is officially opened EB-5 investors.
--by John Ryan