The EB-5 Modernization Final Rule becomes effective today, raising the minimum investment amounts in the EB-5 Program to $900,000 and $1.8 million within and outside TEAs, respectively. The leading regional center operator, CanAm, will continue to provide high-quality, job-creating projects to EB-5 investors at the lower, $900,000 investment level.
CanAm Enterprises (“CanAm”) announces that, with the amendment by U.S. Citizenship and Immigration Services (USCIS) of its policy guidance to align with the EB-5 Immigrant Investor Program Modernization Final Rule, which became effective on November 21, 2019, the EB-5 Immigrant Investor Program has undergone several significant changes that will dramatically alter the landscape of EB-5.
The new regulations bring the following key changes to the EB-5 Immigrant InvestorProgram:
• The minimum investment amount increases to $900,000 in Targeted Employment Areas (TEA);
• The minimum investment amount increases to $1,800,000 for investments outside Targeted Employment Areas;
• The regulations revise the methodology for determining high-unemployment areas; and
• The Department of Homeland Security will now be responsible for designating TEAs.
Following the aforementioned changes, CanAm would like to confirm to its investors that it will continue to operate with high integrity and follow its core values in sourcing project offerings that meet all of the new requirements. CanAm will continue to work hard to deliver an exceptional experience and results for its investors.
“There is no doubt that the new regulations will be a game changer for all of us. We have actually been preparing for the past few years – since the spectre of either legislative or regulatory reform was first raised. CanAm has been in EB-5 for almost twenty years, so we’ve seen it go through lots of changes. While the new regulatory changes raise the minimum investment amounts and affect the standards for TEAs, we are confident that we will continue to provide high-quality, job-creating projects to our investors,” said Tom Rosenfeld, President and CEO of CanAm Enterprises. “Our goals always remain the same – to maximize the likelihood of our investors achieving their immigration benefits while preserving their capital,” Mr. Rosenfeld added.
“CanAm operates as an independent regional center operator which is not associated with any particular developer, as such we have the flexibility to continue to source high-quality EB-5 projects even under the revised Targeted Employment Area standards – so we can provide investment opportunities at the lower, $900,000, amount,” added Walter Gindin, Director, In-house Immigration Counsel at CanAm Enterprises.
With three decades of experience promoting immigration-linked investments in the United States and Canada, CanAm has a long and established track record. Basing its business on a reputation of credibility and trust, CanAm has financed 60 projects and raised nearly $2.9 billion in EB-5 investments. More than $1.3 billion in EB-5 capital from over 2,600 families has been repaid by CanAm’s 40 projects to date. CanAm exclusively operates seven USCIS-designated regional centers that are located in the city of Philadelphia, the Commonwealth of Pennsylvania, the metropolitan regions of New York & New Jersey, the states of California, Hawaii, Florida, and Texas. For more information, please visit www.canamenterprises.com.