Managing Partner Michael Wildes was recently quoted in a China Daily USA article regarding The Kingsbridge Armory EB-5 immigrant visa project.
China Daily USA, China Daily’s US edition, keeps North American readers current on the developments in one of the world’s fastest-growing countries and facilitates constructive dialogue between China, the US and the world at large.
Declared a New York City landmark in 1974, The Kingsbridge Armory, located in the Bronx, NY, has been vacant since 1996. This historical building is now the focus of a redevelopment plan which will convert the empty space into one of the world’s largest indoor ice skating facilities.
Under the EB-5 regulations, foreign nationals may ultimately qualify for Lawful Permanent Residency status if they invest a minimum of $1 million into a qualifying project which creates at least 10 full time jobs or $500,000 in low employment or rural areas.
The EB-5 program was created in 1990 by the US Congress in order to help stimulate a fledgling economy. To date, Chinese nationals have outpaced all other nationalities in the bid for EB-5 immigrant investor visas.
The Armory project is projected to cost $350 million. According to Michael Wildes, “ my Dad testified in support of the EB-5 program before Congress decades ago, which speaks to the national heritage of immigrants and entrepreneurs”.
Michael’s dad, Leon, is the founding partner of the firm, having established the practice more than 5 decades ago, and is most well-known for his successful representation of John Lennon and Yoko Ono in their deportation proceeding.
Today, the firm has 3 offices (New York City, Englewood, NJ, and Miami) and continues to serve a distinguished domestic and international clientele in all areas of U.S. immigration law, including employment and investment-based immigration, work permits, permanent residence for qualified individuals, family-based immigration, asylum applications, student and religious worker visas as well as all other temporary and permanent-type visas.
To view the article, please click here. For further information on the EB-5 program, please visit our Investor Visas page or contact Michael at michael@wildeslaw.com.
