San Jose, CA, October 12, 2011 – NES Financial, the nation’s leading provider of EB-5 escrow administration services, is supporting the IIUSA’s efforts to make the EB-5 program permanent by sponsoring IIUSA’s Permanent EB-5 Fundraiser Event on Friday, October 21, in San Antonio, Texas. The proceeds raised from the event will be donated to IIUSA’s Leadership Fund.
The EB-5 program is set to expire September 9, 2012, unless Congress reinstates the program.
“The EB-5 Visa program has received numerous extensions over the years because of the value it continues to provide to the U.S. economy. We believe that the EB-5 Visa program should be made permanent.” said NES Financial’s CEO Michael Halloran. “The EB-5 program benefits the U.S. economy by providing funding for development projects and creating American jobs. Our EB-5 solution ensures that investors’ funds are secure. It also improves the operating efficiency of the Regional Centers during the project’s capital raise.”
The EB-5 program, created by Congress in 1990, encourages foreign investment in government-approved projects that create U.S. jobs. A foreign investor is required to invest a minimum of $500,000 in a federally approved project, and Regional Centers hold each applicant’s deposit in escrow pending approval of the investor’s Form I-526 application by the U.S. Citizenship and Immigration Services (USCIS). Through the program, foreign investors are given the opportunity to become lawful permanent U.S. residents. NES Financial’s EB-5 Escrow Administration Solution has been widely adopted by leading Regional Centers.
For more information on NES Financial’s EB-5 solutions and best practices, click here.
About NES Financial
NES Financial is a leading provider of trust and escrow administration technology and services for banks, financial institutions, and Fortune 500 companies. NES Financial is the nation’s leading provider of EB-5 escrow administration and 1031 exchange services. The company’s state-of-the-art virtual private cloud-based solutions provide banks and financial institutions with increased fee revenue opportunities, reduced compliance costs and improved operating efficiency. NES Financial focuses on business sectors with complex processes, significant compliance requirements, and large sub-accounting needs, including landlord/tenant security deposit escrows, client trust accounts, capital raises, pre-need trusts and many more.
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