Global accounting firm PKF O’Connor Davies confirms that CanAm Enterprises (CanAm) has repaid a total of more than one billion USD in capital to investors.
PKF stated that as of December 31, 2018, CanAm maintained a high success rate in the approval of key petitions for US visas. The number of I-526 approvals reached 4,589 and I-829 approvals reached 2,304.
A few cases of denial were unrelated to the operations of any project sponsored by CanAm. According to the PKF report, CanAm has made 2,080 full repayments to investors, equivalent to a total EB-5 capital repayment of over one billion USD. However, it is noted that the audit report does not yet reflect all outstanding projects that have not yet reached their maturity date.
“CanAm partners with this internationally renowned accounting firm to ensure a transparent and efficient process for EB-5 investors as they pursue their dream of becoming US citizens, while contributing significantly to the national infrastructure,” a CanAm representative shared regarding the reason for the partnership.
To produce a comprehensive report, PKF performed a thorough audit of thousands of investor records; cross-referenced notices issued by the US Citizenship and Immigration Services (USCIS); and reviewed bank statements and related financial documents for every EB-5 investor from 2003 to 2018.
Tom Rosenfeld, President and CEO of CanAm, stated: “A regional center’s track record is a critical factor for most EB-5 investors when evaluating the likelihood of achieving their immigration goals. At CanAm, we are very proud of our track record, as the number of EB-5 investor approvals achieved is second to none in this industry.”
According to the track record as of July 2019, CanAm has received more than 4,640 I-526 approvals, more than 2,310 I-829 approvals, and has facilitated more than $1.25 billion in capital repayments to 2,500 investor families across 38 projects. These figures were not yet updated in the PKF report.
“CanAm continues to be the standard-setter in the EB-5 industry. That is our competitive advantage,” Mr. Rosenfeld added.
The EB-5 Immigrant Investor Program is administered by the US Citizenship and Immigration Services (USCIS). The program provides eligible foreign investors with a conditional visa, or a two-year temporary visa, in exchange for a $500,000 investment in businesses located in high-unemployment areas that can create at least 10 full-time jobs for workers…
