Landing | Fri May 15, 2015 3:00pm BST
Ashcroft Sullivan and The Jha Group Form New Partnership - Ashcroft Sullivan Jha
ASEDC and JHA Group Set to Travel to India to Educate Investors on an EB-5 Economic Development Road Show
BOSTON, MA--(Marketwired - May 15, 2015) - The Ashcroft Sullivan Economic Development Centers (ASEDC) announced today a new partnership with The Jha Group (TJG) to bring investment and economic opportunities to India, under the EB-5 programs, stimulating job creation in the United States. The Principals of the new joint venture, Ashcroft Sullivan Jha, will be traveling to India for an initial launch touring the country, setting up offices, and educating investors about the unique opportunities available to them through the EB-5 program.
Overseen by the U.S. Citizenship & Immigration Services (USCIS), the U.S. Immigrant Investor Program (EB-5) provides foreign nationals the opportunity to become conditional residents immediately after, and permanent residents within a period of two years from, making an investment of $1 million, or $500,000 in a designated Targeted Employment Area, in a new commercial enterprise in the United States.
"We are thrilled to be partnering with the Jha Group to bring economic opportunities to India. Vibhuti and Satish are leaders in their field and have deep roots in this emerging economy," said Ashcroft Sullivan Economic Development Centers, Principal, Michael Sullivan. "They have been at the forefront of driving Indo - US relations since they came to the United States and will be a valuable partner to us in their home country."
Michael Sullivan, along with partners Joe Fitzpatrick and Brett Griffith, accompanied by Vibhuti and Satish Jha, will travel to India in late June for meetings and presentations in Delhi, Mumbai and Dubai. Satish Jha, Chairman at The Jha Group, believes the newly formed partnership, to be called Ashcroft Sullivan Jha in India, will be the next step in the continued development of Indio-US collaboration.
"Over the past decade, people of Indian origin have flourished and taken pride in contributing with their technical knowledge and entrepreneurial skills in the US ecosystem and TJG is proud to partner with ASEDC to contribute in achieving the laudable objective of EB5," said TJG Chairman Satish Jha. "We believe this partnership will provide tremendous value and opportunity to both India and the United States in the coming years."
Vibhuti Jha has been an integral part of Indo - US relations since the early 90s. In his role as a Senior Executive/Region head with American Express Bank International, Vibhuti pioneered the development of investment/deposit programs for expatriate Indians living in the US to invest in India through the Bank while developing Indo-US business relationships.
Satish Jha's career has spanned academic, journalistic, executive and entrepreneurial roles, both in India and abroad. He served as an Adviser to Dr. Manmohan Singh, later the Prime Minister of India from 2004-2014, at The South Commission in Geneva. His more recent roles have been focused on mentoring startups and philanthropic organizations developing technologies that provide access to populations not served or reached by either the markets or the government.
As federally designated regional centers, Ashcroft Sullivan Economic Development Centers' mission is to create new jobs in the Mid-Atlantic and New England regions, expanding economic productivity and help foreign entrepreneurs obtain permanent residency for themselves and their families. Ashcroft Sullivan Economic Development Centers collect and distribute EB-5 program job creation credits (both direct and indirect job credits) to our participating foreign entrepreneurs to support their immigrant visa requirements. These job credits are derived from our qualifying investments in real estate and private equity projects in the Middle Atlantic and New England geographical areas.
About Ashcroft Sullivan Economic Development Centers:
Ashcroft Sullivan Economic Development Centers expect to receive federal approval as EB-5 Regional Centers from the Department of Homeland Security's U.S. Citizenship and Citizenship Services (USCIS) in 2015 under the EB-5 Regional Center Pilot Program. Ashcroft Sullivan Economic Development Centers currently have projects in the Mid-Atlantic region and in New England and are led by the former United States Attorney General John Ashcroft, former Head of the Department of Justice David Ayers, and former Deputy Director of Alcohol, Tobacco, and Firearms Michael Sullivan.
About The Jha Group:
The Jha Group is comprised of professionals with deep long and active experience in banking, finance, media, international business, technology and entrepreneurship. Its founders, Vibhuti Jha and Satish Jha are leaders in their respective fields and are united in their vision to create sustainable paradigm shifts in Indo-US relations.
About the EB-5 Program:
Overseen by the U.S. Citizenship & Immigration Services (USCIS), the U.S. Immigrant Investor Program (EB-5) provides foreign nationals the opportunity to become conditional residents immediately after and permanent residents within a period of two years upon making an investment of $1 million, or $500,000 in a designated Targeted Employment Area, in a new commercial enterprise.
No offer to sell a security is made by this presentation. Offerings will be made pursuant to exemptions from the registration requirements set out in applicable securities laws. Prospective investors should take note of the risk factors described therein.