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3INVEST, Houston EB5 woo investors with U.S. residency permit

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Head, New Markets, Houston EB5, Roberto Contreras IV (left); Chief Executive, 3invest, Ruth Obih, and Managing Director, Houston EB5, Acho Azuike, recently

After assisting over 350 immigrants to gain permanent residency under the EB5 visa programme in Texas, United States, Messrs Houston EB5 is offering another opportunity in Moderno Porcelain Works.

Houston EB5 had developed over $1 billion projects in the real estate sector and completed the entire lifecycle of the programme from capital investment, issuance of green cards to return of capital and profits.

In 2019, the United States government implemented changes to the EB-5 investor programme as part of a comprehensive EB-5 modernisation law passed by Congress.

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The most notable change was the increase in the minimum investment amounts from $500,000 to $900,000 for Targeted Employment Area (TEA) investments and $1 million to $1.8 million for non-Targeted Employment Area (TEA) investments.

These and many other changes have affected the way investors approach the EB5 investment. However, a new hope was raised this January 2021, when the U.S President, Joe Biden, signed an executive order ending the travel ban on citizens from more than a dozen countries, including Nigeria.

The Managing Director, Houston EB5, Acho Azuike, said “By eliminating the travel ban on Nigeria and a dozen more countries, Nigerians are no longer in limbo and wondering what will happen once their EB5 petitions are approved. Since the ban was in effect, some Nigerians were sitting on the sidelines because of the uncertainty, but now can feel confident about the future of EB5.”

“This is great news for African investors when it comes to EB-5 investment,” according to 3Invest Chief Executive Officer, Ruth Obih. “This new investment opportunity allows for immediate investment, flexible investment terms, a limited number of investors, and is backed by a corporate guarantee.

“With the increase in the minimum EB-5 investment amount, along with political uncertainties in our countries, travel bans, and a global pandemic, people have been concerned about investing. But, for those who understand this new offering, this is a great opportunity and the time is now.”

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Moderno Porcelain Works is a growing fabrication and installation company that established operational centres in industrial areas just outside the metropolitan areas that are designated TEAs.

Azuike said: “Our new offering through Moderno Porcelain Works is an operational business versus a large-scale real estate project. We will have three-four investors for each operational centre. Therefore, offering a more personalized investment opportunity and smaller capital raise to begin each project. Additionally, another attractive aspect of the new opportunity is that returns are paid yearly instead of being accrued.”

Obih said: “With a five-year loan term, better returns are paid yearly, capital repayment is now backed by a strong corporate guarantee. While maximum of four investors make the scheme one of the safest EB5 projects available.”

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