USA EB-5 Immigrant Visa Program

EB-5: Investor permanent resident “Green Card” program (immigrant visa).
US Government has allocated 10,000 EB-5 visas annually.
Depending on the location of the investment, there is either a USD $1,800,000, or USD $900,000 capital investment requirement. The investment in Saltaire St. Petersburg Phase II is USD $900,000.
Current visa processing time is 32 months, plus an additional 4 months for consular interview.

No age restriction
No minimum education requirement
No management or business experience requirement
Net worth requirement of USD $1,000,000 (excluding primary residence) or high annual income
Investment capital can originate from gift, loan, property sale, business income, or any lawful source
May apply for US citizenship after at least 5 years of residency
Live, work or retire anywhere in the United States

Investor must be able to document the legal source and path of funds for investment amount (USD $900,000) and costs (USD $93,675). These costs include the government application fee and legal fee for the I-526 filing.
Each investment must create at least 10 direct or indirect jobs in the USA (Phase I of this project has received Exemplar status, which pre-approves job creation).
Each approved Investor, his/her spouse, and dependents will obtain conditional US residence visas. After 2 years, the lawyer will apply for condition removal.

Florida is the 3rd. most populated state in the USA, with more than USD $815 billion in personal income.
Florida is the 4th largest economy in the USA, and 18th largest in the world.
Over 131 million tourists visited Florida in 2019.
Located on the gulf coast, St. Petersburg is part of the Tampa Bay area.
St. Petersburg is a popular tourist destination, known for its beaches, golfing, and boating.
There is no state personal income tax in Florida.
Nicknamed the “Sunshine City”, St. Petersburg receives an average of 361 sunny days/year (annual mean temperatures between 17 and 29C).

The Kolter Group is a highly successful real estate developer based in West Palm Beach, Florida. It has developed over USD $15B of projects in the past 27 years.
Phase I has received Exemplar status from USCIS, which pre-approves the job creation and ensures condition removal.
The 35-storey development will contain 192 luxury condo units, 10,000 square feet of retail space, and parking.
72 total investment units (55 at $900,000, and 17 at previous $500,000).
Job creation requirement: Phase II (550) + Phase I (170) = 720.
Jobs to be created = 2,366 (3.28x the job creation requirement).
Construction began in 2020, and will be completed in 2022.

The total estimated construction cost is $227.4 million
- Wells Fargo senior loan ($156.6 million or 69% of total construction costs)
- Developer equity and presales ($60.7 million or 27%)
- Phase I EB-5 equity ($10.1 million or 4%)
Phase II EB-5 investors’ capital ($49.5 million) will replace 22% of senior loan. There is no minimum EB-5 raise required.
To return capital to investors, following the 5-year investment term, the developer will repay investors.
There is a full refund on the $900,000 investment capital, plus $75,000 admin fee, if the application is refused for any reason by USCIS.
The EB5 Affiliate Network Regional Center has granted the EB5AN Fund XII, LP the right to operate within the Regional Center.
The EB5 Affiliate Network has regional centers in 28 USA states.
55 investment units remain, at USD $900,000 each (plus admin fee, and initial legal and government fee = USD $93,675).
2,366 EB-5 eligible jobs to be created (which greatly exceeds the required 720 jobs).
2% interest is paid per annum (USD $18,000/year).
Applicant receives back USD $990,000 after 5 years (principal + annual interest), so the applicant’s net cost is just $3,675.