COSTA MESA, Calif. /eNewsChannels/ — NEWS: Emilio N. Francisco, Chairman and Chief Executive Officer of private equity firm PDC Capital Group, LLC, in Calif., announces a company-wide effort to increase scrutiny of potential investors it recruits for EB-5-funded projects. PDC is a private equity firm that specializes in real estate development projects funded through EB-5 visa investments.
The EB-5 visa is a federal program launched in 1990 that allows foreign nationals to apply for permanent residency in the U.S. in exchange for investing $1 million in a U.S. business. Each investment is required to generate at least 10 jobs.
The investment requirement is lowered to $500,000 if the EB-5 project is developed in a Targeted Employment Area (TEA), where unemployment is higher than the average. Each state is responsible for determining whether a local project site qualifies as a TEA.
“Our business relies on our solid reputation,” said Emilio N. Francisco, Chief Executive Officer of PDC Capital Group. “We understand the importance of ensuring that every investor applying for permanent residency through the EB-5 visa program is operating in good faith and in compliance with ethical standards.”
Recently, a report from ABC News’ Nightline ( http://abcnews.go.com/Nightline/fullpage/500000-green-card-eb-visa-program-28662457 ) alleged that there were cases of investors who applied for the EB-5 investor visa who were involved in illegal activities.
Since the Nightline piece appeared, many involved in the EB-5 industry have pointed out that EB-5 investors must undergo Department of Homeland Security background checks as do all individuals who apply for permanent residency in the U.S.
In an effort to demonstrate its commitment to compliance with all of the EB-5 requirements and regulations outlined by the U.S. Citizenship and Immigration Service, PDC Capital Group will perform its own additional screening to ensure that its investors are not involved in any sort of illegal activities.
About PDC Capital Group:
PDC Capital Group, LLC, is a private equity firm specializing in EB-5 investment projects. In identifying and executing new projects, PDC Capital Group’s goal is success for three groups: success for investors, success for the community where the project is located, and success for its project partners.
For more information, please visit http://www.pdccapitalgroup.com/ .
Twitter: @PDCCapitalGrp .
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