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Our team of professionals is sought after for their knowledge and ability to deliver research and advice on the EB-5 Investor Visa Program! # 2013/04/11
Posts Tagged ‘EB-5 applicants’
When traditional sources of financing to fund U.S. franchise restaurant projects dried up in 2007 many business developers and restaurateurs turned the EB-5 Immigrant Investor Program for financing. And according to a recent South Florida Sun-Sentinel report, EB-5 financing has become front and center for many restaurant chains expanding into South Florida.
According to the report, Florida Franchisees for a variety of U.S. national restaurant chains are aggressively seeking funds from international investors interested in participating in the U.S. Citizenship and Immigration Service’s Immigrant Investor (USCIS) EB-5 program.
The EB-5 visa is a path to permanent residency for foreign investors who want to call the U.S. home. To qualify participants must invest at least $500,000 in a USCIS approved business that creates at least 10 U.S. jobs.
Sonic Hamburgers was one of the first chains in South Florida to attract EB-5 investors to the area about two years ago, said Fred Burgess, President of Exclusive Visas of Weston, FL, a consulting firm that specializes in the EB-5 program. A myriad of franchises followed Sonic in South Florida through EB-5 financing, according to Mr. Burgess.
Perhaps most successful so far is the franchise group bringing Voodoo BBQ of New Orleans to South Florida. The group has already secured 10 investors through EB-5 for $5 million (ten positions at $500,000 each) to help finance four units, including its newly opened Pembroke Pines spot. Additionally, Voodoo BBQ & Grill has nearly finished a second offering with 10 more investors — for $5 million — to fund four more locations, Mr. Burgess said.
EB-5 investors in the South Florida Voodoo BBQ franchise hail from China, Canada and Nigeria, among other countries. “We had visa approvals for the project in as little as five months,” said Mr. Burgess.
In addition to Voodoo BBQ & Grill, Twin Peaks, a sports theme restaurant/bar designed to compete with such chains as Hooters is among a growing list of restaurant chains currently tapping into the South Florida via the EB-5 program, according to the Sun-Sentinel report.
Advocates see the program as “win-win,” spurring U.S. jobs at a time when U.S. credit remains limited and demand for U.S. residency is high, according to the report.
Franchises are also attractive for investors, since they tend to succeed at a higher rate than stand-alone businesses, according to Mr. Burgess, who is traveling in the United Arab Emirates and India this month to meet with potential EB-5 investors.
Many EB-5 projects including VooDoo BBQ & Grill and Twin Peaks are presented under the Palm Beach Regional Center. The Palm Beach Regional Center, which has an outstanding reputation for presenting quality EB-5 projects, is one of the few Regional Centers in the United States that can boast a 100% success rate on all previous I-526 petitions. The Palm Beach Regional Center operates in nine Florida Counties including Miami-Dade, Broward and Palm Beach.
“Franchise investment offerings have been very appealing to EB-5 agents, consultants, and immigration attorneys as well as investors because they are a relatively small in volume ($500,000 per investor), a good mix of developer cash and EB-5 funds, and because there is a history of approvals with the Regional Center on restaurant projects. And with some approvals coming in as little as 4 months we expect interest to continue in South Florida franchise restaurants,” said Joe Sloboda Vice President of Exclusive Visas.
Contact Exclusive Visas to Discuss Franchise Restaurant Investment Opportunities
A growing number of Mexicans are crossing the US border legally and settling in cities like Dallas, Houston and San Diego – though the EB-5 investment program, according to a recent report in the Dallas Morning News.
Representing the latest wave of immigrants to transform the region, Migrantes Fresas – high-end migrants (as many call themselves to separate rich Mexican investor immigrants from previous waves of immigrants from Mexico) are lured mostly to Texas by its geographic proximity to Mexico and the promise of a stable American lifestyle.
In addition to Mexico’s financial downturn, continually slowing job growth and economic instability, powerful drug cartels combined with government corruption have created chaotic living conditions – particularly for rich Mexicans. Since 2006 extortions, kidnappings and killings have accounted for crime-related deaths increasing by 84 percent. The result is Mexicans are investing in EB-5 and moving to the U.S. (and creating jobs) in extraordinary numbers in places like San Diego, El Paso, San Antonio, and Dallas.
Since 2009, the city of Dallas has been pursuing investment through the EB-5 visa program, under which applicants get permanent residency in exchange for investments of $500,000 to $1 million and the creation of at least 10 jobs. And Mexican’s have been investing ever since.
Americans in general, are benefiting, and Mexico is losing. Mexico won’t be able to sustain the loss of so many talented people (and capital). It can’t. No country can, according to the report.
Click here to contact an Exclusive Visas EB-5 consultant now!
Brazilian I-526 Approved in 4 Months
Dear Exclusive Visas:
It has been a month now since I began my new job – my first job since graduating from college last year. I know there is no way I could have gotten this far without the Exclusive Visas team. I can’t find the words to show Exclusive Visas my gratitude.
After finishing college in the U.S. with a degree in business, I became interested in working for a U.S. company or maybe even starting my own business in the U.S. Unfortunately for me, I did not qualify for the H1-B visa. I was told that because I did not study technology, math, or engineering specifically it would be difficult if not impossible to go the H1-B rout.
At that point I began researching EB-5. After finding out the requirements of EB-5 I approached my father, who contacted Exclusive Visas. We learned that he would be able to gift the investment funds to me so that I could apply for the EB-5 visa. My father was so impressed with the Exclusive Visas team and how you treated him that he agreed to make the required investment (a minimum of $500,000 in a U.S. business that generates at least ten jobs). I was on my way.
While EB-5 initially sounded simple it was far from it. I needed advice on every facet of the program. Exclusive Visas helped me find an attorney, facilitated the development of my petition, and assisted me in choosing an appropriate investment. A month later we were submitting my completed I-526 to USCIS and four months after that it was approved and looking for a job.
Thanks to Exclusive Visas my dream of living and working in the U.S. has been realized. When I look back at the process I appreciate how much good advice I got from Exclusive Visas. I am thankful that Exclusive Visas was there to help guide me through the process. Thank you Exclusive Visas for your guidance, precise preparation, and for your patience. We did it!!!
Dear Exclusive Visas:
My wife and I have always dreamed of living in America with our two daughters. We desired the economic opportunity and the lifestyle it affords. But most importantly we wanted to live in the U.S. so our daughters could attend a U.S. university. Education is very important to us. We consider a U.S. college education to be priceless.
After choosing EB-5 as the means to our family’s move from Nigeria to the U.S., I was very disheartened to learn that there are hidden pitfalls within the EB-5 process. Right off the bat we learned that one of our daughters who was turning 21 in two short months would probably not qualify because she would “age-out,” as our agent put it. As I understood it children over 21 years of age do not qualify as family under the EB-5 visa. I thought that was it. No way will we get her application prepared and submitted in time.
The whole point of EB-5 for us was getting our daughters into the U.S. so they could matriculate at a U.S. college. If EB-5 could not do that then it wasn’t going to be for us.
We were just about hopeless when we consulted with Mr. Burgess and the Exclusive Visas team. We were informed by the EV team that if my daughter petitioned by her 21st birthday she could still qualify under EB-5. But we would have to work quickly. Preparing her application with less than a two month deadline for submission would be challenging to say the least.
Then the Exclusive Visas team went into action. Exclusive Visas prepared our documentation, introduced us to an attorney, filed our petition before my daughter’s 21st birthday and six months later she received approval. Subsequently, she was able to be included in our EB-5 petition. Exclusive Visas’ trustworthy advice and precise work were the keys to our success. I am truly impressed by Exclusive Visas’ professionalism in getting the job done.
My daughters are now living our dream and preparing to attend college in the U.S. Thank you Mr. Burgess. You and your team took a desperate situation, completely turned it around and made EB-5 work for us. Great work!
After only being open for 2 months, VooDoo BBQ & Grill placed FIRST in the WPLG Local 10 Top 10 Best BBQ in South Florida! “To take first means so much to us. Thank you to all our customers who helped spread the word,” said Jack Flechner, President of VooDoo BBQ’s Florida Franchise group.
In addition to winning first place in the contest, the first eight weeks of business have far exceeded all expectations for VooDoo BBQ’s first Florida Location in Pembroke Pines. “Our EB-5 Investors are receiving their approvals in as little as four months. Our sales volume is Fifty percent above our projections. Jobs are already being created. And Construction is already underway on two additional locations with construction on a fourth location scheduled to begin in a few months,” Mr. Flechner added.
And as a result of being named best BBQ restaurant in South Florida by Channel 10 TV, VooDoo BBQ was recently highlighted on a major television news broadcast.
VooDoo BBQ’s success and rapid expansion is credited to its unique concept rooted in New Orleans culture – a culture known for its creative and delicious food. VooDoo BBQ & Grill is ranked in Entrepreneur Magazine’s Franchise 500 and is a recipient of Franchise Business Review’s Top 50 Franchisee Satisfaction Awards.
While VooDoo BBQ & Grill has already sold out all its Phase-I EB-5 positions, opportunities remain to invest in Phase-II, which is offered by the Palm Beach Regional Center and the Florida Restaurant Franchise Group.
Contact Exclusive Visas to Discuss VooDoo BBQ Investment Opportunities