IN THE NEWS

Virginia Beach Company Wins EB5 Designation
Virginia Business | Paula C. Squires | November 12, 2013

The Virginia Atlantic Regional Center (VARC), based in Virginia Beach, said Monday that its application for designation as an EB5 Regional Center has been approved.
Currently, there are more 200 EB5 regional centers operating in 40 states. This is the first designation for a regional center in southeastern Virginia, and the federal program is expected to open up a new source of funding for real estate projects.
The designation by the U.S. Citizenship and Immigration Service (USCIS) opens the door to foreign capital investment and lending for the development of commercial real estate projects in the metropolitan areas of Virginia Beach and Richmond and in Currituck County, N.C.

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