SAN FRANCISCO, June 7, 2024 /PRNewswire/ -- Golden Gate Global, a leading California-based EB-5 regional center, received a Form I-956F project approval from the United States Citizenship and Immigration Services (USCIS) for its rural Targeted Employment Area (TEA) project, Anasu Resort Phase 1A. Despite the average waiting period of 15.6 months, Anasu's project approval was granted in just over five months, maintaining Golden Gate Global's 100% project approval rate with USCIS.
"We are excited to share that our Anasu Resort Phase 1A project has been approved by USCIS, demonstrating the robustness of our project underwriting. We take pride in our exceptional track record, consistently achieving a 100% USCIS project approval rate," said Mark Jorgensen, Co-CEO of Golden Gate Global.
The approval of Form I-956F marks a milestone in the EB-5 process, signifying that USCIS has examined the project's documentation to ensure compliance with all EB-5 program requirements. Specifically, it confirms the designation of Anasu Resort as within a rural TEA, endorses its job creation strategy, and validates its investment sustainment period. For investors, this meaningfully increases the chances of a timely I-526E adjudication.
The Anasu Resort Phase 1A is within the first of four phases of development, and will include the construction of a 40-key five-star hotel, 164 residential lots, and a residence club. The generational luxury resort and master-planned community is located on approximately 22,000 acres of wholly-owned land in California's wine country, an area long established as a premier wine, food, and event destination. In a league of its own in terms of scale and offerings, the Anasu Resort will redefine luxury living and hospitality in wine country.
The EB-5 project qualifies for the EB-5 program's 20% rural visa set-aside, which offers investors priority visa processing and current priority dates for all countries. The minimum required investment amount is $800,000. For this offering, investors have a 80%+ job creation cushion and a short 2-year EB-5 loan term with two, developer-optional 1-year extensions (2+1+1).
Golden Gate Global (GGG) is a leader in U.S. investment immigration and offers EB-5 visa opportunities through institutional-quality real estate projects. GGG has:
100% USCIS project approval rate
Raised over $750M from more than 1,400 EB-5 investors from 30+ countries
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