Technology

Visa Eb-5 Investors Help Expand Jay Peak Ski Resort

In late December, the Jay Peak Ski Resort in Vermont officially opened its new Tram Haus Lodge, which was funded in large part by foreign investors participating in the country’s EB-5 visa program.

Bill Stenger, one of the resort’s owners, says Jay Peak received investments from 35 foreign nationals totaling $ 17.5 million to open the new hostel, which includes 57 luxury suites, several restaurants, a bar, gym and ski rental and repair. shop, VermontBiz.com reports. This was the sign of the resort’s new era and provides a shining example of a well-managed EB-5 program that will work and benefit not only the investors involved but also the community in which the project is located.

According to Stenger, British citizens make up about 60 percent of investors, while the rest are citizens of countries such as Brazil, China, India, Korea, Mexico and Canada. The expansion project is expected to create hundreds of jobs both at the resort and in the surrounding Orleans County area.

The owner of Jay Peak told the news source that the EB-5 visa program seemed to attract potential investors, especially from Canada and the United Kingdom, who want to retire in the United States and young business leaders looking to enroll their sons in an American show. College.

Sugarbush Resort in Warren, Vermont, is also using funds from EB-5 visa holders to fund a new 40,000-square-foot guest service center and ski facility expansion, but at the time of this article that will be published, we could not confirm. whether Sugarbush has accepted or processed any I-526 application.

In exchange for their investments, foreign financiers receive a conditional green card, granting the petitioner, his Spouse, and their children (under 21 years of age) the right to live and work in the US, and after a period of 2 years this application. It is then reviewed and the conditions that will allow the investor to be eligible for full citizenship are removed.

Leave a Reply

Your email address will not be published. Required fields are marked *