DALLAS, Nov. 27, 2013 /PRNewswire/ -- Encore Global Investment Management, LLC (Encore Global) a division of the Dallas-based Encore Enterprises, Inc., plans to develop and/or finance multiple real estate projects in the states of Alabama and Florida as part of its nationwide EB-5 Regional Center network.
"We are excited to add yet another EB-5 Regional Center to our actively growing portfolio," said Kevin Rogers, Senior Managing Director of Encore Global. "This particular addition is especially great because it is our first Regional Center to cover two states."
The EB-5 Employment-Creation Immigrant Visa Category was created by the United States Citizenship and Immigration Service (USCIS) in 1990 to provide accredited foreign individuals with an opportunity to achieve conditional and permanent residency status by investing lawfully acquired funds (at least $500,000 within a rural area or one of high unemployment, or $1 million anywhere else) in a USCIS approved Regional Center. To qualify, each investor must directly or indirectly, through the Regional Center, create ten full-time jobs in the United States. In exchange for this investment, the investor may be able to obtain an EB-5 Visa, providing permanent residency status for the investor, his or her spouse, and unmarried children under 21 years of age.
The Encore Alabama/Florida Regional Center has been organized to attract foreign capital through the EB-5 program, with the intention of developing multiple new commercial enterprises and job-creating entities located throughout Alabama and Florida. Encore Global will develop and/or fund commercial real estate projects in two Alabama counties, including Baldwin and Mobile, and eight Florida counties including Bay, Calhoun, Escambia, Gulf, Okaloosa, Santa Rosa, Walton and Washington.
