New Business Opportunity on Clark Rd

Sarasota immigrants will be interested to know about a new business opportunity on Clark Rd in Sarasota, FL.  A well-established bar and entertainment venue is for sale.  It is one of the few establishments licensed to provide entertainment after 10pm in Sarasota.  The owner is an immigrant himself who used the business to qualify for an E-2 Investor Visa when he bought it.

The current owner bought the business in 2010 when it was on the verge of closing.  Now it’s a well-known local watering hole with annual revenue of over $350,000.  Asking price is $450,000.

Features include the largest stage in Sarasota (according to the owner), 23 TVs, 2 106″ sceens, 2 pool tables, beer pong, and SS bowling.

The business currently employees seven full time servers and bartenders, one full-time General Manager and several part-time bartenders.

Interested parties should contact immigrant investor Jason Kukk (941-921-6875) or Sarasota immigration attorney Chris Jaensch (940-366-9841) for more information.

Please enjoy the video below to learn more about qualifying for an investor visa through a commercial real estate investment.

USCIS Releases New Memorandum on EB-5 Adjudications

USCIS released a memorandum on EB-5 Investor Visa adjudications recently which reviews many important points about the program and provides updates on certain procedures.

The EB-5 program will be 23 years old this year.  Congress passed it to create an incentive for wealthy foreigners to invest and create jobs in the US.  Investors contribute $1 million dollars or more and are placed in conditional permanent (Green Card) resident status for 2 years.  If, at the end of 2 years, the immigrant-investor meets the requirements of the EB-5 program, they can obtain unconditional lawful permanent resident status.

In 1993 Congress amended the law to allow for Regional Centers.  These are investment projects where immigrants can pool their money and the center is responsible for creating the jobs.

USCIS adjudicates EB-5 cases according to the preponderance of evidence standard of proof.  As opposed to the “clear and convincing” and “beyond a reasonable doubt” standards that apply in other legal matters, preponderance of evidence merely requires that the applicant show that what they claim is more likely to be so than not so.  If the applicant submits enough evidence to prove that what they claim is more likely than not or probably true, then they will satisfy the standard of proof.

There are 3 elements of the EB-5 program:

1. The immigrant invests capital (must be acquired lawfully and can include equipment, other property, and promissory notes.  The amount must be no less than $1,000,000 – or $500,000 in “Targeted Employment Areas” – and must be invested in a single commercial enterprise)
2. A new commercial enterprise (must be a commercial enterprise that was established or restructured after 1990)
3. The creation of US jobs (the investment must lead to at least 10 new US jobs)

Every step must be documented and requires a preponderance of evidence in order to be met satisfactorily.

USCIS also has forms that need to be filled out:

• Form I-526 must be filed with the evidence documenting the immigrant’s investment in a new commercial enterprise.
• If the immigrant wishes to invest in a regional center, that regional center must be approved.  Part of the approval includes filing Form I-924 together with supporting evidence

Read the entire USCIS Memo on EB-5 Adjudication by clicking the link.

Related Articles:

• How to qualify for an investor visa through commercial real estate investments
• These Sarasota professionals can help you make smart investments
• New provisions in Immigration Reform Bill for investors

Sarasota Business Brokers Offer Free Valuation Estimates

A few weeks ago we wrote about a business broker team that works with area immigrants.  This week we caught up with Tony Dempsey to learn more about his organization.  He informed us about his standing offer to provide business owners with free valuation estimates and we decided to share this with the readers of Immigration Sarasota.

Sunstate Business Brokers

From Tony:

Valuing your business in today’s market is a service that Sunstate Business Brokers will provide to you free of charge and without any obligation whatsoever. Whether you are considering exiting your business NOW or some time in the future, knowing the current market value provides great insight for planning purposes. Year over year we will update the Valuation so you will know exactly what your market value is, whether maintaining, increasing or declining. I have included an attachment that defines the information we will need for the valuation. This information is usually readily available from your accountant.

Thank you…

Here is the attachment Tony mentioned: Sunstate Business Valuation Information.

Remember, buying a business can be a viable avenue for obtaining a temporary or even permanent visa to the United States.  Purchasing commercial property can also help one qualify for an investor or entrepreneur visa.