Filipino CPA Uses Savings, Real Estate to Fund U.S. Immigration

Mark Alan Ivener

Practice Area:Immigration

Outcome:The immigrant investor’s I-526 (Initial visa petition) was approved in about 4 months. He and his family successfully completed consular processing and immigrated to the United States in the fall of 2008.

Description:A Filipino national in the Philippines invested in a Limited Partnership under an approved Regional Center in a Targeted Employment Area. The funds invested, along with funds from numerous other investors, went into the purchase of a piece of land and a building. The building, consisting of 283,000 square feet, will be renovated, improved, and divided into multiple light industrial suites of various sizes for varying needs. The immigrant investor invested $525,000 into this project. The project will create approximately 969 direct and indirect jobs in total and each immigrant investor will be allotted 10 of the created jobs. The immigrant investor’s source of funds was gathered from the refinancing of his real property and through his accumulated employment income savings. The investor had accumulated substantial savings through his lifelong career as a certified public accountant, and in finance, in the Philippines.