The EB-5 visa for immigrant investors is a United States visa created by the Immigration Act of 1990. This visa provides a method of obtaining a green card for foreign nationals who invest money in the United States.
Foreign investors investing $500,000 to $1,000,000 and creating 10 jobs will initially receive a green card. They will be able to apply for permanent residence status after a 2-year conditional period.
Garth is arguing that the unemployment is so high in Mason and Jefferson counties that he can facilitate economic growth in the counties. He must bring in at least 232 foreign investors, according to the USCIS formula.
Garth stated in his first application to the USCIS that “Purchasing resort residential vacation property at Pleasant Harbor could be considered a risky investment, with no guarantee of return in today’s volatile real estate market.” He has been unable to secure funding in the U.S. and Canada.
Garth states that his master plan estimates construction of 108 staff quarters to support full-time employees of the resort. Questions have been asked about why residents of Mason and Jefferson counties would need housing at the resort site.
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