Our Regional Center
The USCIS designated specific areas, called Regional Centers, as eligible to receive immigrant investor capital. Regional Center investments are especially attractive because investors may rely on indirect job creation rather than directly hiring ten employees. American Life Inc. is the general partner of the Gateway Freedom Fund. Its Regional Center was founded in 1996 and is also called the Golden Rainbow Freedom Fund. It comprises the industrial district immediately south of downtown Seattle, commonly known as SODO. In 1996, INS, now the USCIS, approved a proposal to use immigrant investor capital to purchase, renovate and manage aging industrial properties in the SODO area. The City of Seattle sponsored the formation of the Regional Center. American Life Inc. partners with the Economic Development Council of Seattle & King County to develop general guidelines for fostering economic development within the Regional Center. The State of Washington and the Federal Government had previously designated the same area as an economic zone qualified for various tax incentives designed to attract investment. Each Regional Center investor purchases an interest in a specific Limited Partnership, managed by American Life Inc. Each partnership owns, renovates and manages a property within the Regional Center. Indirect employment results from jobs created by elevating a previously underutilized property to a more productive use. Thus, investments in American Life Inc. Limited Partnerships meet the requirements for the EB5 visa.
Of the 10,000 investor visas (i.e., EB5 visas) available annually, 5,000 are set aside for those who apply for a green card under the Regional Center pilot program. Since its re-introduction there has been a month by month acceleration in EB5 visa applications though, to date, the annual quota has not yet been exceeded. The Regional Center pilot program, unless renewed, is scheduled to expire in September 2008.
