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Brewers consider using EB-5 visa program to attract investment
Two brothers who own a brewery in Immokalee, Florida, are intent on using the federal EB-5 visa program (or EB-6 visa, if a recent proposal is passed in Congress), to draw investment and drive the growth of their small business.
Ernest and Curtis Sittenfeld, residents of Naples, Florida, said that attracting foreign investors through the federal immigration program has long been a viable business plan for their company, NaplesNews.com reports.
“While the project is definitely not going to depend on this type of investment, we think there is an opportunity to sustain financial investments relatively quickly, which would help the project, Immokalee and the investors,” Curtis Sittenfeld told the news source.
The brothers, who say they are targeting foreign nationals from Venezuela and Greece, have already spoken with a handful of potential investors.
By investing at least $500,000 in capital (or $1 million in some areas) to a U.S. company, foreign nationals are eligible to receive EB-5 immigration status and be put on track for an expedited process to U.S. residency.