By Goddy Egene
Houston EB-5, a company that has helped over 350 immigrants to gain legal permanent residency through the EB5 visa programme by creating qualified and competitive real estate investments in Texas, is now offering new investment opportunities through the Moderno Porcelain Works, which is an operational business versus a large-scale real estate project.
Houston EB5 has developed over $1 billion in real estate and has completed the entire lifecycle of the programme from capital investment, issuance of green cards to return of capital and profits. The newest investment offering with Moderno Porcelain Works is designed to successfully benefit from these changes.
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. 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-TEA investments.
However, the signing of an executive order ending the travel ban on citizens from more than a dozen countries, including Nigeria, by U.S President, Joe Biden has birthed a new hope.
Speaking on the new investment opportunities, 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 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.”
Also speaking, the Chief Executive Officer of 3Invest, Ruth Obih, said: “This is great news for African investors when it comes to EB-5 investment. With the travel ban lifted, 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.”
“It’s a no brainer to invest in Moderno. With a 5-year loan term, better returns paid yearly, capital repayment backed by a strong corporate guarantee and Maximum of 4 Investors makes it one of the safest EB5 projects available,” Obih added.
Speaking further, Azuike explained that Moderno Porcelain Works offer a more personalised 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,” he said.
According to him, the company has established operational centers in industrial areas just outside the metropolitan areas that are designated TEAs.