“This is such incredible news,” said Jack Flechner, President of the Florida Restaurant Franchise Group (FRFG), operator of VooDoo as well as other franchise restaurants in Florida. “We can control how we perform as a restaurant. We can tweak everything so that the food is delicious and the service is terrific but we have absolutely no control when it comes to how our EB-5 investors’ petitions stand with USCIS.
“That’s where Exclusive Visas (EV) has been worth its weight in gold to us. The EV team not only procured the EB-5 investors for our project, they managed (and continue to manage throughout the process) the investor petitions until the applicants get their green cards.” This is a huge value for our investors and for us,” Mr. Flechner added.
The (I-526) approvals clear the way for (conditional) green cards to be issued to the petitioners allowing them (and their families) to take up residence in the U.S. Within two years of I-526 approval petitioners (in concert with the investment project’s administration) must demonstrate that the projected 10 required permanent U.S. jobs (per investor) in the approved I-526 petition were in fact developed. When the USCIS is satisfied that the jobs have been created the conditions are removed from the green card and the petitioner is granted permanent U.S. residence.
“Part of our plan when we are working with a client is to put them into projects that are not just going to meet but that are going to exceed the EB-5 10-job-requirement. The VooDoo project is expected to create 175 permanent full-time jobs per each of its six phases – 75% more jobs than required for green card approval” according to Fred Burgess, President of Exclusive Visas, a Weston Florida, based EB-5 consultancy. “Exclusive Visas works diligently in the preparation of I-526 petitions and just as diligently in monitoring their progress as they make their way through the entire EB-5 process,” he added.
The VooDoo BBQ & Grill EB-5 project is presented under the Palm Beach Regional Center. The Palm Beach Regional Center has an outstanding reputation for presenting quality EB-5 projects. It is one of the few Regional Centers in the United States that can boast a 100% success rate on all previous I-526 petitions. The Palm Beach Regional Center operates in nine Florida Counties including Miami-Dade, Broward and Palm Beach.
“VooDoo’s investment offerings have been very appealing to EB-5 agents, consultants, and immigration attorneys as well as investors because they are a relatively small in volume ($500,000 per investor – $5 million per phase), a good mix of developer cash and EB-5 funds, and because there is a history of approvals with the Regional Center on restaurant projects. And with some approvals coming in in as little as 4 months we expect interest to increase significantly in the handful of slots remaining,” said Joe Sloboda Vice President of Exclusive Visas.