On the afternoon of March 9, Worldway Beijing held the Beijing launch event for the premier U.S. EB-5 project, the “Cleveland Phase III EB-5 Bond Project,” at the China World Hotel. Because the first two phases of bonds both received I-526 approval, and in accordance with U.S. case law, the third phase is certain to replicate the success of the previous two, attracting nearly a hundred investors to the venue with a lively atmosphere. Worldway specially invited project representatives, Mr. Brent Leslie, Chief Financial Officer of the Cleveland-Cuyahoga County Port Authority, and Mr. Stephen Strnisha, Chief Executive Officer of the Cleveland International Fund (Regional Center), to attend in person and provide authoritative interpretations of the project for investors.
2014, the Year of Service at Worldway, Helping Investors Realize Their Dreams with More Quality Projects
Ms. Wang Ling, General Manager of Worldway Beijing, delivered the opening remarks. She pointed out that 2013 was Worldway’s “Year of European Immigration,” which sparked a wave of property-buying immigration in Europe. 2014 has been defined as Worldway’s Year of Service, dedicated to starting from the needs of investors and recommending more high-quality immigration projects. At the beginning of the year, Canada closed the door on its federal investment immigration program, prompting more investors to focus on the United States. To meet the urgent demand of the vast number of investors for high-quality EB-5 projects, Worldway, based on strict selection and professional assessment, launched the “Cleveland Phase III EB-5 Bond Project” and brought authoritative interpretations from the project parties to investors, hoping that this meeting would be helpful to investors in realizing their immigration dreams as soon as possible.
Triple Employment Surplus, Dual Repayment Guarantee, Cleveland Phase III EB-5 Bond Highly Sought After
Mr. Stephen Strnisha, CEO of the Cleveland International Fund (Regional Center), who traveled from the United States, introduced that the regional center was designated and approved by the immigration authorities in 2010. All past projects have been approved, and it was named the “2013 Best Regional Center.” Cleveland is located at a hub between major U.S. cities New York and Chicago. The EB-5 bonds issued this time are specifically for the expansion project of Crocker Park. Crocker Park, which began operations in 2004, integrates retail, residential, and office spaces. It already has nearly 200 well-known brand tenants and receives as many as 20 million visitors annually, making it a very successful commercial project. As the new headquarters building for the American Greetings Corporation, the largest greeting card design manufacturer in the United States, will be built here, the expansion includes numerous supporting facilities such as parking lots, hotels, retail spaces, and apartments. It is a continuation of a successful project, and the future commercial prospects will be even more brilliant.
Mr. Stephen Strnisha, CEO of the Cleveland International Fund (Regional Center)
Mr. Stephen Strnisha summarized the three major features of the project: First, the Cleveland-Cuyahoga County Port Authority issues bonds as a government department, and its criteria for selecting projects are even stricter than those of banks; second, multiple guarantees are set for the return of principal and the acquisition of green cards for EB-5 investors; third, it has received strong support from federal, municipal, and Cleveland-Cuyahoga County Port Authority governments at multiple levels. Currently, more than 200 applicants from the Cleveland International Fund have successfully had their I-526 approved, and more than 200 families have successfully received their U.S. green cards. It is believed that the rich past success experience will provide more guarantees for investors.
As the issuer of the “Cleveland Phase III EB-5 Bond Project,” Worldway specially invited Mr. Brent Leslie, Chief Financial Officer of the Cleveland-Cuyahoga County Port Authority, to the scene. The Port Authority is a government agency found throughout the United States, and one of its responsibilities is to select qualified projects to issue bonds to promote local economic development. Since 1993, the Cleveland-Cuyahoga County Port Authority has issued 2 billion U.S. dollars in bonds for 80 projects, creating more than 16,000 jobs. Among them, there are successful cases of issuing bonds in cooperation with the Cleveland International Fund. This “Cleveland Phase III EB-5 Bond Project” is an EB-5 bond project with dual repayment guarantees of property mortgage and personal guarantee from the developer’s chairman.
Mr. Brent Leslie, Chief Financial Officer of the Cleveland-Cuyahoga County Port Authority
Targeted EB-5 Bonds, Designed to Comply with Immigration Law, Funds and Green Cards Guaranteed
Usually, EB-5 investors are most concerned about two questions: Is the capital safe? Can employment be realized? The “Cleveland Phase III EB-5 Bond Project” is a rare high-quality project on the market. It is a bond issued by a U.S. government department specifically for EB-5 investors. Its design meets the requirements of immigration law for job creation, investment period (5 years), etc. What is even more unique is that after investors purchase the EB-5 bonds, their funds enter a supervised account and will only be released to the Crocker Park expansion project after the investor’s I-526 is approved, which maximizes the protection of investors’ interests.
At the same time, EB-5 investment accounts for only 10.5% of the project’s total investment, which is a very low proportion. Government cash support accounts for 22.5%, used for infrastructure and other preliminary investments, which further increases the safety factor of EB-5 investment. According to calculations by authoritative economists, each EB-5 investor in this project creates as many as 33.2 jobs, which is 3 times higher than the 10 jobs required by the immigration authorities, making the removal of conditions for the green card more guaranteed.
After listening to the authoritative interpretations from the professionals on-site, investors showed great interest in the “Cleveland Phase III EB-5 Bond Project.” In the Q&A session, they asked questions one after another about the Port Authority’s bond issuance, exit mechanisms, repayment guarantees, etc., and the guests on-site answered them one by one in detail.
After the meeting, many investors stayed to communicate one-on-one with Worldway consultants regarding their own and their families’ situations, and expressed high recognition for the “Cleveland Phase III EB-5 Bond Project.” Some investors said that due to the impending “price increase” and “visa retrogression” of U.S. investment immigration, the earlier the application, the better. The “Cleveland Phase III EB-5 Bond Project” has obvious advantages among many EB-5 projects, and Worldway’s own brand influence has also added to their confidence.
Focus on U.S. investment immigration, focus on the “Cleveland Phase III EB-5 Bond Project” for which Worldway is the sole first-tier agent. Please call the consultation hotline at 400-138-2929
