United States-based firm, Houston EB5 plans to introduce ‘the Frederick’, a new project associated with EB-5 immigrant investor programme located in the heart of the Texas Hill and Wine Country to potential investors in Northern Nigeria.

The EB-5 programme affords foreign nationals and their spouses and unmarried children under age 21 the ability to obtain a U.S. visa based solely upon a minimum investment in a for-profit enterprise that creates or retains a specified number of jobs.

To obtain the visa, individuals must invest $800,000 (TEA) or $1,050,000, creating or preserving at least 10 jobs for U.S. workers excluding the investor and their immediate family. The EB-5 visa provides a method of obtaining a green card for foreign nationals, who invest in a new commercial enterprise in the United States.

Since the year 2000, 115,430 qualified investors and their family members across the globe have obtained legal permanent residency in the United States via the EB-5 Programme. In 2023, 8,506 EB5 visas were issued under the “unreserved” category via consular processing.

EB-5 visa issuance in 2023 increased by over 750 per cent from 2022, largely thanks to visa operations at major U.S. Consulate Offices. Overall, 13,987 visas are available to the EB-5 category in FY 2023 with 9,511 visas available to the unreserved EB-5 category.

The most recent Houston EB5 project otherwise known as the ‘The Frederick’ has received EB5 Priority Processing designation ensuring some of the fastest processing times in the EB-5 programme. Located in Fredericksburg, Texas, between Austin and San Antonio, the top two fastest-growing cities in the state, the area hosts over 1.2 million tourists yearly.

The multi-use development will include a 200-room full-service luxury hotel and event centre, 42 condominiums, 240 multi-family rental units, and nearly 3,000 square meters of retail space.

The programme, which will be promoted in Abuja and Lagos early next month by 3INVEST will educate new investors about the EB5 programme and how they can obtain their US green card within four -12 months with the new priority processing policy.

According to the Chief Executive Officer, 3INVEST, Ruth Obih, the position Houston EB5 has acquired as the leading EB5 Company in Nigeria, is a testament to the real advantage of the EB5 programme for Nigerian citizens seeking US residency through investment.