NES Financial announced today that it has been selected by Cloudseed International Fund to provide EB-5 Escrow, Fund Administration, and Immigration Workflow Solutions on the Regional Center’s latest project, The District at Linworth.
The EB-5 visa program, created in 1990, encourages investment into projects that stimulate U.S. job growth, while providing an opportunity for foreign nationals to become lawful permanent residents. An applicant’s investment is typically held in an EB-5 escrow account prior to investment in the New Commercial Enterprise, which then uses the funds to create jobs.
The District at Linworth has been recognized as an NES Financial Platinum Medallion project because it has embraced the entire suite of NES Financial Intelligent EB-5 Solutions. The project is a 326-unit Class A luxury multifamily apartment project being developed in Columbus, Ohio. Columbus is home to various Fortune 500 companies as well as the largest research and development foundation in the world.
“We chose NES Financial because they make things easy for us and bring full transparency to our investors,” said Sumeet Patil, CEO of Cloudseed International Fund. “The NES Financial solutions take care of all of the back office administration. As a result, we are able to focus on doing what we do best as a Regional Center – underwriting projects and raising capital.”
“The EB-5 market has never been more competitive, with proven developers and quality projects,” said Reid Thomas, NES Financial Executive Vice President. “The projects that are going to stand out are the ones committed to providing investors with the highest levels of security, transparency, and compliance. By awarding an NES Financial Medallion, we hope to make it simple for investors to identify projects that embrace these standards.”
Read the full press release here.