Talk on the Street
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EB-5 Visa Program for Franchise Businesses
The EB-5 Visa Program offers immigrants permanent residency into the U.S. by investing in business. And franchising is proving to be the most popular investment option.
The EB-5 Visa
The EB-5 Immigrant Investor Visa Program has been providing eligible overseas investors to become green card holders, gaining permanent residency into the United States. In order to qualify for an EB-5 Visa, the applicant must invest a certain amount of money into a viable and successful business that employs a minimum number of employees.
Applicants have two options when investing into a business that meets the criteria of the EB-5 Visa. Firstly, visa applicants can invest a minimum of $1 million to finance a business that will employ at least 10 American employees.
The second option, and more popular option according to franchise expert Derek Cafferata from All State Franchise Finders, is to invest into a Targeted Employment Area (TEA). A TEA is any designated area that is generally rural or has low employment levels. Choosing to invest into a TEA requires a minimum investment of $500,000.
EB-5 Visa and Franchising
According to Derek Cafferata, franchising is the ideal option for those looking to gain U.S. citizenship via the EB-5 Visa Program.
“An established franchise brand helps to provide the necessary employment opportunities, security and longevity that is required to meet visa criteria,” says Derek. “With a proven business model in place, franchising suits the majority of immigrants who are new to the country.”
While franchise businesses are a hugely popular choice for those applying for an EB-5 Visa, not all franchises will suit the necessary criteria. According to Derek Cafferata, there are a few things to consider when looking for a franchise that will meet visa criteria.
Firstly, the applicant must invest a minimum of $500,000 into a franchise or $1 million if choosing outside a TEA, so the initial franchise cost must meet this threshold.
Another consideration when choosing the type of franchise to meet visa criteria is the timeframe the EB-5 visa process takes from initial application to approval. “The processing time for an EB-5 Visa can take quite a while,” says Derek. “Applicants should keep this in mind when choosing a franchise to invest in as some franchisors want franchisees to open units quickly.”
Not all franchise businesses require high employee numbers. Some franchises are designed to run as owner-operator businesses or with small employee numbers. For EB-5 Visa requirements, this would not be suitable as the business needs to create at least 10 full time employment positions, either directly or indirectly.
Choosing an established franchise business to invest in, something that has a proven track record of viability and success for its franchisees will ensure visa criteria is more readily met.
Franchising Expertise from AllStateFF.com
The EB-5 Visa Program has seen a large number of immigrants and their families gain permanent residency in the U.S. Derek and his team at All State Franchise Finders work with many foreign investors from all over the world to successfully establish themselves in business through investing in a suitable franchise.
For more information about franchising as a method of gaining permanent residency via the EB-5 Visa Program, contact All State Franchise Finders on 1-800-544-2161 or visit allstateff.com today. All State Franchise Finders are your franchise experts.