Board of Directors Meeting-Discussion of EB5 Visas
January 6, 2012 – January Board Meeting at Ana Capri
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| Louis P. Archambault, Esq |
Today the Miami-Dade, Monroe County Board of Directors had their monthly meeting at Ana Capri Restaurant in Coral Gables. At the board’s monthly meetings, we not only take care of business for the month, but we also greet guests, discuss haves and wants for the board to generate business and spend 15-20 minutes discussing an educational topic timely to the board.
This month’s educational discussion was given by board member Louis P. Archambault, Esq., who is a real estate and transactional partner at the law firm of Pathman Lewis, LLP, a boutique law firm in Miami. With the assistance of various other professionals such as accountants, immigration attorneys and international tax counsel, Mr. Archambault has created a seminar which he routinely gives to area brokers and investors on issues concerning foreign buyers. While other areas of his seminar concern background information for foreign buyers in Florida and South Florida, types of entities available for purchase, an overview for tax issues concerning foreign buyers and other tips and concerns for foreign purchasers, his presentation for the board focused on visas, and more particularly the EB5 Visa program and its impact on local real estate.
As described by Mr. Archambault, there are two EB5 investor programs, a traditional and “pilot program” EB5 Visa. The traditional EB5 Visa requires a $1,000,000 minimum investment, direct participation in the invested business and the creation of at least 10 direct jobs from the investment. The “pilot program” EB5 Visa only requires a $500,000 minimum investment, may allow indirect participation in the invested business and can create 10 direct or indirect jobs, but the investment must be in a defined area called a “Regional Center”. In exchange for a qualifying investment, the investor may apply for and be granted a “green card” or be granted resident alien status.
While a good program for the right investor, Mr. Archambault explained that a qualifying program for an EB5 Visa may not also be an attractive investment from a strictly investor rate of return perspective. For example, an investment attractive to for an EB5 Visa application is a business that employs a lot of people in order to qualify for job creation. However, such a business may not generate enough rate of return compared to other possible investment opportunities available to the investor. Therefore, the investor must weigh both the risks and proposed return of the investment as well as the investment’s ability to qualify for an EB5 Visa.
For any questions to Louis P. Archambault Esq. regarding an EB5 Visa, issues for foreign buyers or to discuss a real estate or business transaction, please call him at 305-379-2425 or email him at lpa@pathmanlewis.com. For more information on Pathman Lewis, LLP, please reference their website at www.pathmanlewis.com.
The local Miami-Dade / Monroe Chapter CCIM Board of Directors meetings are the first Friday of each month. Click here for more information on future events.
