NORTH PALM BEACH, FL–(Marketwired – Oct 14, 2013) – AEGEA (OTCBB: AEGA) (“AEGEA” or the “Company”), a planned mega-resort destination and international community in Florida, announced today that in furtherance of its EB-5 foreign investment program it has signed an agreement with a South Asia group, ADN Consulting, Inc. (“ADN”) which represents potential EB-5 investors residing throughout southern Asia. ADN expects to close on funding commitments for $6 million from its first wave of EB-5 investors over the next 60 days. Thereafter, ADN expects to close on funding commitments from EB-5 investors during the coming months. Under this agreement, ADN will use its best efforts to introduce investors to AEGEA and coordinate with their U.S. Immigration counsel’s efforts to qualify, prepare and file USCIS (United States Citizenship and Immigration Services) EB-5 application petitions associated with their investments. AEGEA will support the efforts of its prospective EB-5 investors by supplying documentation and information on AEGEA’s planned resort project, including marketing and promotional materials. Part of AEGEA’s financing strategy is obtaining foreign investment through the USCIS EB-5 Immigrant Investor Program.
Under the USCIS EB-5 Immigrant Investor Program, certain foreign investors, who can demonstrate that their at-risk investments are creating U.S. jobs, become eligible to apply for conditional lawful permanent residency in the United States. The purpose of the EB-5 program is to help boost the U.S. economy through foreign investment, by creating jobs and providing venture capital.
Congress created the EB-5 program in 1990 to encourage new investment capital into the United States and to create new jobs for U.S. workers. The EB-5 program is based on our national interest in promoting immigration for individuals that will stimulate the economy by investing their capital in new, restructured, or expanded businesses in the United States.
Under the EB-5 program, foreign-born individuals who invest their capital in job-creating projects in the U.S. receive conditional permanent resident status for two-years. Towards the end of the two year period, the immigrant must file an I-829 Form to remove the conditions on permanent residence. As part of the filing, the immigrant must prove that the requirements of the EB-5 program have been satisfied. If the I-829 Form is approved, the alien becomes an unconditional permanent resident whose green card is valid indefinitely. Congress created the conditional status period to help ensure compliance with the statutory and regulatory requirements and goals pertaining to the infusion of foreign capital and job-creation.
If you are considering the EB-5 Investor Visa Program, contact The Nunez Firm to schedule a consultation. Managing attorney Jay Nunez will personally meet with you to help you better understand the process and whether the EB-5 program is a viable option for you.
The contents and information provided in this post should in no way be considered an endorsement or recommendation by The Nunez Firm, P.C. in favor of the investment opportunity or regional center mentioned herein.