First permanent green card issued for fully repaid Philly project
October 9, 2023, New York, NY — CanAm Enterprises (“CanAm”) is delighted to announce that the first permanent green card for an investor in CanAm’s milestone 50th repaid project – based in Philadelphia – has been issued by the USCIS.
Walter Gindin, CanAm’s General Counsel noted that permanent green cards come with the final adjudication of I-829 petitions that are filed by immigrant investors in association with their EB-5 visa applications. Investors receive conditional green cards when initially participating in a USCIS-approved project from an EB-5 regional center. Those conditions are removed when I-829 petitions are fully processed and certified as having met all EB-5 program criteria, including the creation of at least ten U.S. jobs, making investors’ U.S. residency permanent.
“We’re delighted with USCIS’s permanent green card approval, and nothing gives us more pleasure than seeing our investors achieve both their immigration and investment goals,” Gindin said. “The permanent green card approval may be the capstone to the EB-5 process, but success starts when an investor chooses an experienced Regional Center like CanAm that puts investors’ interests first and helps them at every step to obtain their green cards and see their investment returned,” he said.
In its 35+ years of experience with immigration-linked investments, CanAm’s track record includes the issuance of more than 8,100 permanent green cards, more than 15,000 conditional green cards, and 51 fully repaid projects.
As a Regional Center operator, CanAm carefully selects and structures development projects to ensure each fully complies with the EB-5 program and job creation requirements. CanAm assists immigrant investor clients with all phases of the immigration by investment program, including identifying and underwriting projects that conservatively meet all requirements, preparing offering documents and materials related to USCIS immigration applications, and choosing investment opportunities that we believe have the best chance of repayment. CanAm curates EB-5 investment opportunities with established project developers, so foreign investors can attain permanent U.S. residency and the U.S. achieves the job creation and economic benefits of the EB-5 visa program.
“Over the last 35 years, CanAm investors have created more than 100,000 U.S. jobs — all at no cost to the U.S. taxpayer,” said CanAm President and CEO, Tom Rosenfeld. “The true value of the EB-5 program is its ripple effect on the American Dream — when immigrants start new lives in the U.S., create more jobs, reinvest, and further expand the U.S. economy,” Rosenfeld said.