The Regional Center Designation
EB-5 Affiliate Network State of Florida Regional Center
The U.S. Congress created a pilot program, now rescheduled to sunset on September 30, 2016, that provides for the authorization of regional centers by USCIS. Enterprises located within and affiliated with a regional center are not required to directly employ ten (10) workers for each investment that qualifies under the EB-5 Visa Program, it suffices if the investor demonstrates that at least ten (10) qualifying employment positions will be created directly or indirectly on account of the investment.
In June 2014, the EB-5 Affiliate Network State of Florida Regional Center, LLC, (EB5 AN) was granted a designation as an approved regional center under this pilot program. An investment in a new commercial enterprise situated within the state of Florida and affiliated with a regional center, that fosters economic expansion through increased exports, greater regional productivity, employment creation or additional domestic capital investment, qualifies for the broader view of employment creation.
The Waterline Marina Resort & Beach Club job creating project (JCE) will be built on Anna Maria Island and is located within the EB5 AN Regional Center.
The EB-5 Project as described in the business plan has been structured so that foreign investors may meet the requirements of the EB-5 Visa Program and become eligible for admission to the United States of America as lawful permanent residents along with the investor’s qualifying family members.
The designation of the EB5 AN Regional Center includes the types of approved economic activities and industrial clusters as follows:
- Full-Service Restaurants (NAICS 722511).
- Fitness and Recreational Sports Centers (NAICS 713940).
- Commercial and Institutional Building Construction (NAICS 236220).
- New Single-Family Housing Construction (NAICS 236115).
- New Multifamily Housing Construction (NAICS 236116).
The geographic area for the EB5 AN Regional Center includes the entire state of Florida.