This is an extract from the webinar held by WR Immigration Managing Partner Bernie Wolfsdorf in collaboration with Visa Franchise Managing Partner Patrick Findaro. In this extract, there are some EB-5 considerations you need to take into account to obtain a Green Card through the EB-5 Visa.
EB-5 Franchises for non-English speakers
Bernie: Would non-English speakers be able to invest in the franchise as mentioned by Patrick? Yeah, I don’t have a problem.
There’s no requirement to speak English to get a visa. But they will often ask you how will you run the business. So if you don’t speak English, presumably you will have a manager who is fluent in both languages.
Patrick: Yeah. From our side, fluent bilingual manager, or if you’re dealing…with just dealing with the franchisor, you need to have a translator available within 48 hours to come in, to jump in a meeting. The franchisor, it’s a marriage, it’s a 10-year contract, they need to communicate with you. So if they can’t communicate with you, we have some franchisors that speak Spanish and clients who speak Spanish and that’s fine. But, besides Spanish, you got to have a translator or that bilingual manager.
Possibility to change Visa Status
Bernie: Thank you, Patrick. So, see, I’m probably gonna just take the last question here. Can an investor change their status to E-2 inside the U.S. avoiding going abroad? The answer is yes. If you’re in the US invalid non-immigrant status. So if you’re in the U.S. on a B2 or B1, or even an F1 student visa, we can change your status in the United States, that approval would be valid for up to two years. When you leave the country, you then have to apply for a visa stamp at the consulate abroad, which is a brand new process.
Seize the opportunity
Bernie: But the one thing that I do want to mention as well as the economy seems to be picking up. We seem to be going through an extreme boom time. Real estate in Southern California was up 20% in April alone compared to last year. The stock market is, what, at 34,000. It’s insane, maybe too high already. But I think with all the capital that’s being pumped into the U.S. economy, this is a good time to open a business. I think people want to get out and live again.
