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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 ‘immigration’
On Thursday, May 23, 2013 at 12:30 p.m. (Eastern) the U.S. Citizenship and Immigration Services (USCIS) invites all stake holders and interested persons in EB-5 to participate in a conversation regarding USCIS ELIS and the EB-5 Immigrant Investor Program.
Many concerns regarding multiple investors submitting duplicate documents with Form I-526 were expressed at the March 2013 stake holder’s meeting. USCIS plans to address these concerns by adding a document library to USCIS ELIS later in the year. The document library will allow Form I-526 petitioners to share documents related to a new commercial enterprise that were previously submitted with an approved I-924, Application for Regional Center, rather than submitting these same documents with the Form I-526.
Accordingly, USCIS officials will give an overview of the concept for the document library, solicit feedback regarding access to the document library, uploading and storing documents, and Regional Center and Investor expectations.
The engagement may be attended in person or by teleconference. Those wishing to attend in person should note that attendance is limited to the first 25 registrants. Those attending via teleconference will be in listen-only mode.
To Join the Session in Person please email the Public Engagement Division no later than May 22, 2013. Please include your full name organization, if any, in the body of the email and reference ELIS EB-5 in the subject line. Attendees must bring government-issued photo identification and plan to arrive at least 15 minutes early to complete the security process.
To Join the Session by Phone please visit the event’s registration page. All registrations must be received no later than May 22, 2013.
On the day of the session, please call in 10 to15 minutes before the start time.
Toll-Free Call-in Number: 1-800-857-0174 – Passcode: ELIS
Any questions regarding the registration process should be directed to the Public Engagement Division.
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
Cyprus’s economic bailout by the European Union (EU) without the proposed “levy on bank deposits” has done little to quell the anxiety of its citizens who had feared that the government would extract money from their bank accounts to cover the tiny EU island-nation’s debt crises.
As part of the deal, Cyprus agreed to shut down the bankrupt Laiki Bank, transferring its deposits under 100,000 Euros to the country’s largest lender, Bank of Cyprus. Deposits over 100,000 Euros at Bank of Cyprus will be subject to a yet-to-be determined tax, which reportedly could reach as much as 60 percent of their value. Cyprus has also committed itself to raise taxes, rein in spending and carry out structural reforms in the public sector.
International Monetary Fund (IMF) managing director Christine Lagarde said in a recent ABC News Report that the measures adopted “seek to distribute the burden of the adjustment fairly among the various segments of the population and to protect the most vulnerable groups.” But not everyone agrees.
Analysts say even though the levy was averted the attempt to confiscate money from depositors has opened a Pandora’s Box that probably cannot be closed. “How can I trust any bank in the Euro Zone after this decision,” asked Andreas Andreou, a trader with a Cypriot investment firm in a recent New York Times report? “I’m not waiting around to see what happens to my 130,000 Euros ($169,000). I’d rather put the money in my mattress,” he added.
Mr. Andreou’s feelings are not unique. Not only have many Cypriots withdrawn their money from their country’s banks. Because of the instability many are showing strong interest in pursuing residency outside their native country leading industry insiders to expect an increase in EB-5 by Cypriots.
“Bad economies and uncertain political conditions typically motivate individuals to investigate alternatives to residing in their country of origin,” said Joe Sloboda, Vice President and Co-founder of Exclusive Visas, a Weston, Florida-based EB-5 consultancy. “With the popularity of the U.S. and Cyprus’ current situation it’s only natural to expect more interest from Cypriots in EB-5,” said Mr. Sloboda.
The EB-5 visa is attractive for high net worth Cypriots (willing to invest in a U.S. business) because it does not require having a close relative or a U.S. company willing to sponsor the immigrant, as required by conventional immigrant visas. Under the EB-5 program the investor is issued a conditional Green Card providing Permanent Residency for themselves, their spouse and children (under the age of 21) on an investment of at least $500,000. The investment must result in the development of at least 10 permanent jobs.
While the key features of EB-5 are easily stated the process can be arduous and confusing. The entire process is a vast combination of timelines, deadlines, tax returns, supporting documentation, and due diligence involving, immigration attorneys, the USCIS and the SEC. It is not a world anyone should attempt to navigate without an experienced expert at their side.
An Exclusive Visas Expert EB-5 Consultant will cut through the confusion for the investor by explaining how the program works generally and specifically for the Cypriot candidate. Exclusive Visas brings together all the elements of the program, manages timelines, and gives the client the broadest likelihood of success.
From petitioning the USCIS to choosing a credible project to invest in, Exclusive Visas will see to it that the investor has all the information necessary to give them peace-of-mind while making the best of the EB-5 opportunity.
Don’t wait another day. Click here to contact an Exclusive Visas EB-5 consultant now.
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!
An exodus of the Gallic super-rich to ‘wealth-friendly’ nations is occurring in the wake of the French government’s proposed 75-percent tax rate for millionaires. The issue was brought to light last year when French actor and academy award nominee Gerard Depardieu renounced his French citizenship for Russian citizenship in order to avoid the looming French tax hike.
But it’s not just the super-rich who are unhappy with the government’s proposed tax rate. Depardieu’s departure has divided France. A recent survey by French pollster Ifop showed that 54 percent think the government’s fiscal policies are too tough and are encouraging people to leave the country.
Depardieu is not the only French celebrity to minimize their tax bill by moving abroad. According to the newspaper Le Parisien, Switzerland has been a country of choice for years for French fiscal expatriots, including a colony of actors, singers, tennis players and sports stars. Another report earlier last year by London (real) estate agents showed many of France’s richest people were heading to Britain to escape new higher taxes.
Due to the new 75 percent tax rate, the mood in France, and the current exodus of French millionaires already under way EB-5 industry leaders expect French interest in permanent residency in the United States to increase significantly in the coming year(s).
Whenever there is instability in a country, we see an increase of interest in immigrating here, according to Exclusive Visas EB-5 consultant Renata Castro. We have seen growing interest from France especially since the new tax was proposed, Ms. Castro added.
The EB-5 visa is an attractive way for French people who posess the means to invest in a U.S.-based business to gain permanent U.S. residency status. Under the EB-5 program the investor is issued a conditional Green Card providing Permanent Residency for themselves, their spouse and children (under the age of 21) on an investment of at least $500,000. The investment must result in the development of at least 10 permanent jobs.
While the key features of EB-5 are easily stated the EB-5 process can be arduous and confusing. The entire process is a vast combination of timelines, deadlines, tax returns, supporting documentation, due diligence, immigration attorneys, and petitions.
An Exclusive Visas Expert EB-5 Consultant will cut through the confusion for the investor by explaining how the program works generally and specifically for the French candidate. Exclusive Visas brings together all the elements of the program, manages timelines, and gives the client the broadest likelihood of success.
From petitioning the USCIS to choosing a credible project to invest in, Exclusive Visas will see to it that the investor has all the trustworthy information necessary to give them peace-of-mind while making the best of the EB-5 opportunity.
Click here to contact an Exclusive Visas Eb-5 consultant now