EB-5 Visa Considerations for Green Card

Written by: Patrick Findaro
Last Updated: July 27, 2021
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EB-5 considerations visa green card

Webinar with WR Immigration Managing Partner Bernie Wolfsdorf

 

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 in order to obtain a Green Card through the EB-5 Visa.

 

EB-5 Franchises for non-English speakers

Bernie: Would non-English speaker be able to invest in 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 basically 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 really, 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 a 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 in valid 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.

 

How to contact us

Bernie: Folks, we’ve been going for over an hour. I don’t want… I see we’ve got a few people dropping off. So you will get this recording, share it with your friends. To reach Patrick it’s patrick@visafranchise.com. To reach me it’s bernard@wolfsdorf.com. Watch your mail next week, the green card will be arriving in an official envelope. Sorry, that’s my standard bad, silly joke. The green card will not be arriving in the mail next week. But hopefully it will be arriving in the mail in two or three years’ time and we can all have a big green card party and celebrate.

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Seize the opportunity

Bernie: But the one thing that I do want to mention as well is 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 the month of 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.

 

Start with us

Bernie: So for those of you who are interested, if you have immigration questions, email me bernard@wolfsdorf. We have 160 staff, 43 attorneys, 7 offices throughout the United States and you’ll find our team willing, able and qualified to help. And if you need help with selecting a business, Patrick’s a good guy to start with. Don’t make it easy on him. Kick him hard. He likes it. I know that because I do. But you want to make sure that your investment is safe. But these guys have been straight shooters in the past. And I expect them to be so in the future. So Patrick, thank you again for…

Patrick: No. Thank you, I appreciate you and your team for putting this together so quickly, in five days.

Bernie: Yeah. We did this in about four or five days. We wanted to be out there quickly, because I don’t know how long the $500,000 EB-5 will last. It could be one week. It could be two weeks. But what I do know is that we could file an EB-5, at $500,000 for you tomorrow. We’d have to put a good business plan together. But the bottom line is that’s going to go back up to at least $900,000…

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