Posts Tagged ‘EB-5 investors’
Senate Judiciary Committee Chairman Patrick Leahy (D-Ct) has announced his committee will take up comprehensive immigration reform on April 17, 2013. Chairman Leahy, a bold advocate for legal immigration including the EB-5 program, agreed to hold the hearing as soon as the legislation is introduced. He has promised to have unlimited debate and amendments during the committee mark-up period, a spokesperson said.
The hearing comes as the result of talks within the bipartisan eight member group referred to as the Gang of Eight. The group has been working on the soon-to-be unveiled legislation.
Members of Mr. Leahy’s eight member group say they are close to finalizing an agreement on a comprehensive proposal that is expected to include a path to citizenship for 11 million illegal immigrants and could serve as the model for a deal between Congress and the White House.
Several weeks of debate during which senators could offer amendments are planned to begin in early May. “We don’t have that many issues” remaining to be negotiated, said Sen. John McCain (R-Ariz.), a member of the working group. “Now is the time to get it done.”
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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
Question of the Week
A Regional Center is an area designated by the USCIS as eligible to receive immigrant investor capital. The Regional Center (RC) coordinates and plans EB-5 compliant investment opportunities for EB-5 investor, typically pools a variety of projects, and offers them to EB-5 and non-EB-5 investors (domestic, foreign, and institutional).
Regional Center designation by USCIS is dependent on the RC’s projects making strong business sense. The EB-5 visa requires the creation (or preservation) of ten jobs for each EB-5 investor. It is possible for many projects to make financial sense but lack sufficient job creation for EB-5 purposes.
Those seeking RC designation from USCIS must demonstrate:
- how the RC will focus on a U.S. geographical region and explain how the RC will achieve the required economic growth within this regional area;
- that its business plan is reliable, and verifiable, and that its business model reasonably and credibly estimates market conditions, project costs, and activity timelines;
- how (typically using economic models) jobs will be created directly or indirectly through capital investments made in accordance with the RC’s business plan;
- the amount and source of project capital;
- and promotional efforts made and planned for the project.
Upon USCIS designation, an RC is authorized to advertise and seek to attract EB-5 investors to its projects in its defined – and USCIS confirmed – geographic territory. The RC is also subject to intense USCIS scrutiny. If over time, USCIS encounters problems with an RC, it has the power to terminate the RCs designation.
It is important to note that simply because USCIS approves an RC proposal it does not mean investors in the RC will automatically have their EB-5 immigrant visa petitions approved. Independent EB-5 eligibility must be established individually by petitioners participating in the RC Program.