Last Thursday, I was honored to speak to the Hudson Gateway Association of Realtors (HGAR) on the growing intersections between immigration and the real estate industry in New York State, specifically the EB-5 Investor Visa Program.

The program allows foreign entrepreneurs (and their spouses and unmarried children under 21) to apply for a green card (permanent residence) if they: (1) make the necessary investment in a commercial enterprise in the United States; and (2) plan to create or preserve 10 permanent full-time jobs for qualified United States workers. The investments are made either directly or through the EB-5 Regional Center program–a program that allows developers to pool groups of foreign investors for a single project, securing non-collateralized financing with significantly low interest rates. While the EB-5 Investor Visa program dates back to 1990, it is only now gaining momentum within the real estate industry as both a financing mechanism for project developers, and an incentive for foreign real estate investors and others who wish to start a life in the United States.

Co-sponsored by the HGAR Global Business Counsel and the HGAR Commercial Investment Division, the sold-out seminar (yes, sold-out!!!) was attended by residential and commercial real estate brokers, agents, developers, investors, and other real estate professionals from Westchester, Putnam, Rockland, Orange, Bronx, Dutchess, Manhattan, Ulster, and Sullivan counties in New York.

A special thank you HGAR, its Global Business Counsel, and its Commercial Investment Division for putting together an incredible event. Also, many thanks to all HGAR members who attended. And as I said at the seminar, I’m always just a call (212-904-0285) or e-mail (RGLahoud@norris-law.com) away to answer any questions.