Anthony J. Criscito: "I expect this to lead to an increase in real estate sales in the local Miami market"
Miami, FL (PRWEB) May 30, 2014
On May 19th, 2014, Mayor Tomas Regalado’s office released news that Miami had officially gained designation as an EB-5 Regional Center for Investment. The official press release from the City of Miami had this to say about the potential benefits to the area, “increase foreign investment in Miami, which will translate into the creation of thousands of new jobs and economic growth for both [Miami] and the entire South Florida region.” After a 10-month regional center application process, Greenberg Traurig's EB-5 Group helped Miami gain the important designation.
What the EB-5 Program Is
The EB-5 program was created in 1990 by congress in order to stimulate the U.S. economy. Interested immigrant investors are given a road to citizenship by making a capital investment of either $500,000 or $1,000,000. The investment must create (or preserve) a total of 10 full-time jobs for qualifying U.S. workers within two years.
The investments must go through a designated EB-5 Regional Center for Investment to be valid for the EB-5 program. Once the investment is made and the right applications are filed, investors have a chance to gain an EB-5 Visa and, eventually, citizenship. Needless to say, this program is incredibly popular amongst international entrepreneurs seeking a way into the US.
How The EB-5 Designation Will Help Miami
Since investments must go through a designated EB-5 Regional Center for Investment, more foreign investments and capital will flow towards Miami. Anthony Criscito of The Criscitos International Luxury Real Estate Group was interviewed about what the EB-5 center will do for Miami’s economy. He had this to say about the new investment center:
“I think this will surely boost foreign investment in Miami. The foreign investors will need to establish residency here in order to qualify for the program. Therefore, I expect this to lead to an increase in real estate sales in the local Miami market.”
The Criscitos and the BuyMiami.Net real estate team helps foreign investors and US citizens find luxury real estate properties throughout Miami and Miami Beach. With more money (and jobs) flowing into Miami, real estate values are likely to continue their upward trend.
About The Criscitos
The Criscitos International Luxury Real Estate Group is a team of real estate professionals who concentrate on luxury waterfront properties in Miami, Brickell, Design District, Downtown and Miami Beach. The Venetian Islands, La Gorce Island, Indian Creek, South Beach, Palm and Hibiscus Islands, and the Sunset Islands are just a few of the areas that The Criscitos specialize in. With an inside track on pre-construction offerings and the most high-end properties in South Florida, The Criscitos are the go-to team for foreign and domestic real estate investors.
Visit BuyMiami.Net for more information on all that The Criscitos have to offer or call at 305.379.9732