CanAm Takes the Guessing Out of EB-5 Track Records - PKF Audit

News provided by CanAm Enterprises, LLC
Apr 03, 2018 15:45 KST

NEW YORK--(Business Wire / Korea Newswire) April 03, 2018 -- Further setting itself apart as an EB-5 industry leader, CanAm had commissioned the global accounting firm of PKF O’Connor Davies, LLP (“PKF”) to audit the success rates for I-526 petitions and I-829 petitions and EB-5 capital repayments for investors in CanAm’s regional centers.

Over the course of several months, PKF, an internationally acclaimed accounting and advisory firm, engaged in an exhaustive and individualized examination of several thousand investor records, cross-referencing USCIS-issued notices, bank statements, and related financial documents for each investor from 2003 through 2017. The audit process was significantly more substantial than mere sampling or compilation, which are inherently less reliable.

At the conclusion of its review, PKF was able to verify that, as of December 31, 2017, the success rate of CanAm’s I-526 petition approvals and I-829 petition approvals constituted 99.9% and 99.7%, respectively. Note that those few denial cases were unrelated to the operations of any CanAm-sponsored project. PKF also reported that CanAm facilitated 1,711 investor repayments, representing an aggregate EB-5 capital repayment amount of $855.5 million.

CanAm’s President and CEO, Tom Rosenfeld said, “Virtually all investors consider a regional center’s track record as an extremely important factor in assessing the likelihood that their immigration and investment goals will be achieved. Everyone at CanAm is very proud of our EB-5 track record, which is second to none. To my knowledge, no other regional center that has undertaken such a systematic, comprehensive, and independent audit of its track record.”

As of March 15, 2018, CanAm received 4,200 total I-526 petition approvals, more than 2,100 total I-829 petition approvals, and have raised over $2.6 billion in EB-5 capital. CanAm is truly the standard bearer in the EB-5 industry.

Contact CanAm to get a copy of the PKF report summary

About CanAm Enterprises

With three decades of experience promoting immigration-linked investments in the United States and Canada, CanAm has a long and established track record. Based its work on a reputation of credibility and trust, CanAm has financed more than 55 project loans and raised $2.6 billion in EB-5 investments. CanAm exclusively operates seven USCIS-designated Regional Centers that are located in the city of Philadelphia, the commonwealth of Pennsylvania, Los Angeles County, Hawaii, the New York Metropolitan Region, Florida, and Texas.

For more information, please visit www.canamenterprises.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180402005670/en/

Website: http://www.canamenterprises.com

Contact

CanAm Enterprises
Clare Chen
+1 212-668-0696

This is a news release distributed by Korea Newswire on behalf of this company. Learn more