My name is Shuaib, an EB-5 investor originally from India. I invested in EB5AN’s Saltaire St. Petersburg project, and the immigration and financial benefits of that decision have been truly outstanding.
Because I took the time to find a reliable project developer, regional center operator, and immigration attorney, my EB-5 investment was a success.
Through this article, I hope to share useful advice for other EB-5 applicants, helping them to choose high-quality EB-5 projects and get both Green Cards and timely return on their funds.
Why I Made an EB-5 Investment
Why I Chose EB5AN and the Saltaire St. Petersburg Project
Working with My EB-5 Immigration Attorney, Anahita George
My Advice for Other EB-5 Investors
Watch Shuaib’s Full Interview
Why I Made an EB-5 Investment
I moved to the United States in 2012 as a software engineer. Like many in my profession, I initially held an H-1B visa and later pursued the EB-2 and EB-3 immigration categories. However, the considerable backlog for Indian nationals in these categories prompted me to seek alternative pathways to secure a stable future for my family in the U.S., especially as my children were growing older.
The EB-5 investment route emerged as a promising solution. It offered a path to residency by investing a substantial amount of money in U.S. projects.
My interest in this program deepened after attending several conferences, including one hosted by EB5AN’s Sam Silverman in San Jose. His detailed and comprehensive presentation on the EB-5 program significantly influenced my decision. What set this program apart was its investment aspect – not merely a loan but an equity investment promising returns.
Safety of the investment was my primary concern. While the prospect of returns was enticing, ensuring the security of the principal amount was paramount. It was crucial to trust the people and the project I was investing in.
Why I Chose EB5AN and the Saltaire St. Petersburg Project
Working with EB5AN and the Saltaire St. Petersburg Project has been an insightful and rewarding journey for me, particularly in understanding the dynamics of EB-5 investments and the critical role of developers in such projects. My experience with EB5AN over the past four years has been a testament to the importance of transparency and consistent communication in investment projects, especially those as significant as the Saltaire St. Petersburg Project.
From the outset, my primary concern was not just about investing money, but ensuring the success of the project and its ability to create jobs. This is a cornerstone of the EB-5 investment program. The aspect of EB5AN’s approach that I appreciated the most was their commitment to providing quarterly updates. These updates were not generic newsletters; they were detailed reports on the project’s progress, including aspects such as sales, the proportion of funding from EB-5 investors versus other sources, and overall project development. This regular and detailed communication allowed me to stay informed and assured that the project was progressing as planned.
The creation of jobs, a vital requirement for EB-5 investments, was always a point of focus in these updates. Knowing that the project was not only on track but also fulfilling its employment creation goals was a significant reassurance for me as an investor. It reinforced my confidence in the project and in EB5AN’s management.
One distinguishing feature of the Saltaire project was its structure as an equity project, which offered a higher preferred return rate compared to other projects I had considered, which were structured as loans. Initially, I was not solely focused on the return aspect; my decision to invest was driven by a comprehensive evaluation of the project’s potential.
However, the prospect of a 6% return, significantly higher than what one would typically receive from bank deposits, was undoubtedly appealing. Over the four-year investment period, the financial returns were substantial. I received approximately $118,000, a significant return on my initial $500,000 investment.
This outcome was particularly favorable considering that I borrowed a portion of the investment at a lower interest rate than the annual return from the project. This strategy not only mitigated my financial risk but also resulted in a profitable return on the borrowed funds.
Working with My EB-5 Immigration Attorney, Anahita George
Working with my EB-5 attorney, Anahita George, has been a remarkable journey in my immigration process. The thoroughness and attention to detail Anahita brings to her work are exceptional. She meticulously dissected every aspect of my $500,000 investment for the I-526 approval, ensuring that every source of funds was clearly defined and traceable. This level of detail was crucial, as it laid a transparent foundation for my case.
Anahita’s expertise in handling the documentation was evident in how she meticulously crafted the documents for submission. She went beyond merely preparing the paperwork; she took the time to explain each component to me, ensuring I understood every detail. This process was an educational journey for me as well, as I gained insight into financial transactions dating back ten years, understanding the intricacies of tracing and validating each source of funding.
One of the most challenging aspects was interacting with various banks in India, a task made simpler by the comprehensive document sheet Anahita prepared. This sheet left no stone unturned, covering every potential question regarding the origin and legitimacy of the $500,000. Her ability to simplify complex financial information into understandable terms was invaluable, making it easy for anyone, regardless of their financial acumen, to grasp where the funds originated and confirm their legitimacy.
Anahita’s responsiveness and availability were pivotal in this journey. Her commitment to her clients mirrored the efficiency of automated systems, always providing updates and responses in a timely manner. The longest I ever had to wait for a response was an hour, which is remarkably quick in legal circles. This constant communication fostered a deep sense of trust and confidence in her abilities, ensuring me that my case was in the best hands.
Her dedication and expertise not only made my case robust but also provided me with a sense of assurance and confidence in the investment and the immigration process. With Anahita’s guidance, I felt 150% confident in the success of my case. Her role was more than just an attorney; she was a vital pillar in my journey towards a successful EB-5 application.
My Advice for Other EB-5 Investors
As someone who navigated this process while on an H-1B visa, I can offer unique insights for potential EB-5 investors, particularly those currently in the United States on visas like H-1Bs or E-2s.
The EB-5 program has evolved significantly in recent times, not just in popularity but also in its regulations and investment requirements. My first piece of advice to new investors is to be financially prepared for these changes.
For individuals from countries with significant visa backlogs, like India, the EB-5 visa presents a more reliable pathway to U.S. residency. The traditional visa routes are fraught with uncertainty and delays, making EB-5 a more attractive option.
What sets the EB-5 program apart now is the introduction of reserved visa quotas for new investors. This change has significantly reduced the impact of backlogs, allowing new EB-5 investors to avoid years of additional wait times.
This immediacy has several advantages. For one, it accelerates the process of obtaining employment authorization documents (EADs) and advance paroles (APs), which can drastically improve the quality of life for investors and their families. In my personal experience, the benefits extended to my family were immediate and profound. My son, for instance, could take up employment opportunities post-college that were previously inaccessible to him, all thanks to the EAD.
When it comes to selecting a project for investment, thorough research is paramount. I advise focusing on two major factors: the developer’s background and the project’s viability. Assessing the developer’s track record in previous projects provides insights into their success rate and operational efficiency. A developer with a history of successful projects is more likely to replicate that success, thereby reducing the risk associated with your investment.
The Kolter Group, the developer behind Saltaire St. Petersburg, has over 25 years of experience and a perfect track record of completing all its projects. Kolter is now developing EB5AN’s Boynton Beach EB-5 project.
Furthermore, it’s important to evaluate the market in which you’re investing and ensure that those handling your investment are knowledgeable and experienced. In my experience, having a reliable immigration attorney and engaging with established EB-5 entities can simplify the project selection process. These professionals typically filter and present projects with higher success probabilities, thereby lessening the burden on the investor to sift through numerous options.
The EB-5 program, while complex, offers a structured path to U.S. residency, especially for those caught in the uncertainties of other visa categories. The key is to approach this process with diligent planning, a clear understanding of the financial commitment, and strategic selection of the investment project. The benefits, as I have personally experienced, extend beyond just the investor to their immediate family, offering new opportunities and a more secure future.
