EB-5 program - Q & A
What is the required amount for the EB-5 program? What are the costs?
The minimum investment required to apply for EB-5 status is $500,000. Additional costs are: $50,000 for the Regional Center as Administration Fees, and $ 20,000 attorney’s fee. Through our collaboration, we are able to get a $5,000 discount.
How many Green Cards have already been issued by the program sponsored by your Organization? And how many from your attorney? What is name of the attorney?
For this project only, the Hilton Canopy in West Palm Beach, 38 Green Cards have already been requested. The attorney involved with this project is Julian Montero, from Arnstein & Lehr, LLP law firm.
We read in the brochure: "The Group offers two options: annual yield of 1% fixed (DEBT), or 5% + share of the profit of the project (about 8%) (Equity): more details about that?
The applicant has two different options to invest the funds: through a "loan" that guarantees a fixed annual 1%; or through equity investing as a shareholder in the project: in this case the applicant is entitled to its share of the profits.
What guarantee do I have that the project will be completed? The EB-5 process should last 4/5 years ... who can assure me that the project will be completed?
Warning: the Hotel project will be delivered before the necessary Green Card process, which lasts five years. As a consequence, it’s clear that the risk is much smaller, since the conditions upon which the Green Card is approved, are already met before the first 2 year period necessary to build the Hotel. The full completion of the project is also guaranteed by the insurance that intervenes and is contractually committed to complete the project if any person who holds a key role doesn’t follow its duty, or if there is a problem of any kind. In addition, the project is implemented regardless of EB-5 capital, since it replaces only part of the Equity capital.
Is the possessor of the Green Card obliged to move to the US if so for how long? What are the limitations?
Once having got the Green Card, the applicant is supposed to get the US residency and spend at least 180 days per year in the US, as ruled in any country of the world. In facts, in order to maintain the residency status, the applicant must pay taxes in the US.
How are the funds employed? Are at least three years of audited Driftwood statements available?
The funds are used for construction and job creation for the development of the Hotel Hilton Canopy. Federal law requires the funds be used for construction only. Driftwood is not required to release public statement, however it is possible for us to request them in specific circumstances.
At the time of subscription of the shares, for how long, typically, has the Hotel been managed by Driftwood?
Hotel Canopy Hilton has yet to be built, the construction will start during the first quarter of 2017.
Is it likely that the new administration will place limits to the EB-5 program?
There is a possibility that in April 2017 the required amount will increase from $500,000 to $800,000. The Congress met on December 9th, 2016 and decided to postpone the decision to April 2017.
What role does Ambrosiana LLC assume in the fund’s management activities and issuance of the Green Card? Are specific licenses required?
Ambrosiana LLC does not assume any direct role in the management of funds, all work is done by the lawyer Julian Montero, whose extraordinary experience and success rate in this type of practices speak for themselves. Our role consists in the same purposes of this section, assisting every applicant throughout the process, answering every question the applicant might have and helping the applicant to gather all necessary documents to start the entire process. No special licenses are needed.
Hotel Equity Investment Opportunities
What do the investments in Hotels consist in?
Ambrosiana LLC, through Driftwood Acquisitions & Development (DAD), has created the perfect vehicle to deliver high-yielding institutional quality hotel investment opportunities on a customized one-off basis directly to smaller investment groups and high net-worth individuals looking to diversify their investment portfolio in the U.S. DAD has the capacity to source and quickly acquire the best institutional opportunities in the U.S. Hotel market with its own capital. Once these hotels are secured and under management, DAD opens each individual investment opportunity to its network of investors.
When do interests start accruing?
Interests begin to accrue from the first day of the month following the one in which the investor has subscribed the shares. For example, by signing the investment on December 10th, 2016, interest will begin to accrue from January 1st, 2017.
When are interests paid?
Interests are distributed on a quarterly basis.
What are the guarantees on the investment?
The investor owns a percentage of the shares of the Hotel chosen, the investment is guaranteed by both the real estate asset and by the business activity of the Hotel.
How to participate and contribution modalities?
The capital must be sent either directly to Ambrosiana LLC’s bank account, or to a US attorney’s escrow account, or even to Driftwood’s bank account. Thus, it is important to indicate the beneficial owner on the Subscription Agreement, which must be signed by the investor in order to buy the shares.
What's the minimum investment required to participate?
The minimum required amount is $100,000 and multiples.
What are the investment costs?
Ambrosiana LLC, for consultancy services which are performed during the whole investment period, such as preparation of quarterly reports and support for any questions or needs of the customer, holds 10% of annual dividends.