New York, NY March 25, 2024- CanAm Enterprises (“CanAm”) is thrilled to announce that an investor in our first Rural Broadband Project has received an I-526E Approval, 9 months after filing. This is the first approval for this Project, which received I-956F Approval (Application for an Approval of an Investment in a Commercial Enterprise) from the United States Citizenship and Immigration Services (“USCIS”) on January 11, 2024. The I-956F Approval was also received within 9 months of filing. This was CanAm’s second I956F approval for a designated “Rural Area” project since the visa category was established with the EB-5 Reform and Integrity Act (RIA) in March 2022. Since March 2022, 4 CanAm EB-5 Projects have received I-956F Approvals; our investors have received more than 170 I-526 and I-526E Approvals and more than 150 I-829 Approvals.
“We are happy for all our investors that the USCIS is processing approvals for our EB-5 projects in a timely manner, in line with expectations set when the RIA was passed in 2022. It is a great time for the EB-5 program, and CanAm is proud to continue offering strong projects in the market that meet all USCIS requirements,” said Walter Gindin, General Counsel of CanAm Enterprises.
Tom Rosenfeld, CEO and President of CanAm Enterprises stated, “CanAm was the first Regional Center Operator to identify Rural Broadband as an opportunity for EB-5 investment. The significant government grant incentives for these projects increase their economic viability, mitigating repayment risk, and our investors can be proud their investment is supporting an important initiative for the U.S. We couldn’t be happier for our investors.”
Over the past 20 years, CanAm has raised over $3.1 billion in capital for more than 65 EB-5 projects. To date, our projects have repaid $2.27 billion and resulted in over 15,000 conditional green cards and 8,100 permanent green cards.
About EB-5 Program
Administered by the U.S. Citizenship and Immigration Services (USCIS), the EB-5 Visa Program provides qualified foreign investors and their family members the opportunity to earn conditional visas in return for investing $800,000 in job-creating development projects located in high-unemployment areas of the United States. The new EB-5 Reform and Integrity Act of 2022, which became effective on May 14, 2022, instituted a host of integrity and other rules to enhance the EB-5 Program.
About CanAm Enterprises
CanAm Enterprises, with over three decades of experience promoting immigration-linked investments in the US and Canada, has a proven track record of success. With over 65 financed projects and $3.1 billion in raised EB-5 investments, CanAm has earned a reputation for credibility and trust. To date, CanAm has repaid more than $2.27 billion in EB-5 capital from over 4,500 families. CanAm manages several USCIS-designated regional centers that stretch across multiple states.
Past performance does not guarantee future results. This document is being provided for informational purposes only and not intended as an offer or solicitation for the purchase/sale of any security or a recommendation or endorsement of any security.
For further information, please visit www. canamenterprises.com.
