San Jose, CA, February 10, 2016 – NES Financial announced today that it has been selected by EB5 Affiliate Network to provide its Intelligent EB-5 Escrow and Fund Administration Solutions on the Regional Center’s latest projects, Water Club North Palm Beach and VUE Sarasota.
The EB-5 visa program, created in 1990, encourages investment into projects that stimulate U.S. job growth, while providing an opportunity for foreign nationals to become lawful permanent residents. While relatively obscure in earlier decades, recent years have seen exponential growth in the use of this capital in job-creating projects of all types and sizes.
The Water Club North Palm Beach and VUE Sarasota projects are both waterfront condominium development projects being built in Florida, each with ~ 141 units.
“EB5 Affiliate Network currently operates 15 Regional Centers in 21 states across the United States,” said Mike Schoenfeld, Managing Partner of EB5 Affiliate Network. “NES Financial’s EB-5 Solution Suite is the most efficient and cost effective way to handle our back and middle office administration. By working with NES Financial, we are able to focus on project development, while being confident that our operation exceeds the minimum compliance requirements under the EB-5 program.”
NES Financial’s suite of Intelligent EB-5 Solutions is designed to cover the unique requirements of the entire EB-5 process, start to finish. Each solution provides security, transparency, and compliance for the utmost investor confidence in a project. Whether utilizing select products or the entire bundle, these unique solutions take care of the middle and back office administration so that issuers can focus on doing what they do best.
“For EB-5 Regional Centers to effectively manage their operation, there needs to be a combination of sophisticated fund administration capabilities on top of complex immigration rules,” said Reid Thomas, NES Financial Executive Vice President. “NES Financial’s eSTAC® technology enables us to deliver the only purpose-built EB-5 solution on the market. These capabilities are proving to be critical as use of EB-5 capital becomes increasingly mainstream.”
About NES Financial
NES Financial provides technology-enabled services for the efficient middle and back office administration of highly specialized financial transactions. Our custom solutions include EB-5 administration, 1031 exchanges, and fund administration services. Many of the world’s largest financial institutions and corporations rely on our proprietary technology, unparalleled expertise, and outstanding services to ensure the secure, transparent, and compliant management of funds. Recognized by Artisan Business Group as the 2013 and 2015 EB-5 Service Provider of the Year and by Inc. Magazine’s 500|5000 as one of the fastest growing private companies in America two years in a row, NES Financial helps companies lower operational costs, reduce risk, and improve ROI. For more information, visit nesfinancial.com.
About EB5 Affiliate Network
EB5 Affiliate Network (EB5AN) is a national leader in new EB-5 Regional Center creation and project documentation for I-526/I-924 “exemplar” EB-5 projects. The EB5AN team has (i) completed 200+ EB-5 project business plans, (ii) managed 200+ economic impact reports, (iii) set up new EB-5 Regional Centers and overseen the creation of complete sets of EB-5 project documents, and (iv) created 15 USCIS approved EB-5 Regional Centers that EB5AN owns and operates today. The EB5AN team has experience in business strategy, investment evaluation, securities/tax, and immigration law. For more information, visit eb5affiliatenetwork.com.