Another successful U.S. Immigration Fund project offering continues to receive I-829 Petition approvals and subsequent repayment of investors' capital.
JUPITER, Florida, July 17, 2018 /PRNewswire/ -- U.S. Immigration Fund (USIF) is proud to announce that the United States Citizenship and Immigration Services (USCIS) continues to issue I-829 approvals to EB-5 investors who invested in U.S. Immigration Fund's Via Mizner project in Boca Raton, resulting in investors being repaid their full $500,000 EB-5 investment in the project.
As the final step of the EB-5 process for immigrant investors, the I-829 approvals grant permanent residency to Via Mizner EB-5 investors and their eligible family members. The investors who received full repayment of their EB-5 investment helped finance the construction of Via Mizner. U.S. Immigration Fund is pleased to have completed another successful project and bridge new opportunities for families who can now live, work and attend school anywhere in the United States.
Due to the timing of the EB-5 loan repayment by the developer, many of the applicants had not yet received their I-829 Approvals, thus resulting in redeploying their capital to remain "at risk" per USCIS Guidelines. USIF worked to redeploy this capital into a carefully selected real estate investment using its rigorous project evaluation standards and is now overseeing the repayment of that investment to these investors, ahead of schedule. As the redeployed capital is repaid, USIF is working with all I-829 approved applicants to coordinate the repayment of their original investment so they can begin their lives as permanent U.S. Residents.
"This showcases one of the first projects in the industry to successfully deal with the redeployment component and repayment of the EB-5 investors original capital after the return of the redeployed funds," explained Nicholas Mastroianni III, President of U.S. Immigration Fund. These latest repayments show USIF's commitment to work amongst the current landscape of the EB-5 Program.
EB-5 redeployment can be a confusing topic for many individuals based on current USCIS Policy Manual Guidelines. "Through competent third-party counsel and immigration attorneys, we are acting in what we believe to be the best interests of our EB-5 applicants and enhance their ability to secure their final I-829 approval," Mastroianni added.
Via Mizner is a mixed-use development located in the heart of Boca Raton, one of South Florida's most distinguished and sought-after addresses. Via Mizner is centrally located near employment, entertainment and waterfront activities. The project has created 2,994 jobs since implementation. Included in the project is the creation of a new Mandarin Oriental Hotel and Condominiums, currently under construction. Guests and residents will enjoy luxury amenities in the hotel suites, condominiums, apartments, restaurants and boutiques. Via Mizner also includes the renovation, redesign and construction of an 18-hole golf course, being completed by Jack Nicklaus.
About U.S. Immigration Fund
U.S. Immigration Fund (USIF) is America's leading EB-5 Regional Center operator with world-renowned investment opportunities from New York City to California and 6,000 clients from across the globe. With approved Regional Centers located in the world's most thriving metropolitans, USIF provides worthwhile opportunities for foreign investors and their families to obtain permanent U.S. residency through the EB-5 Program. Each year, the U.S. government allocates 10,000 visas for foreigners who invest through the Program. These initiatives enjoy full government support as they stimulate the economy, generate at least ten jobs per investment, and promote community development while providing access to green cards for foreign investors and their families.
U.S Immigration Fund
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SOURCE U.S. Immigration Fund