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S M A R TCITIZENSHIP
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ABOUT STEP GLOBAL
A Message From the Editor ................................................................. 6
TAB
LE OF
CON
TENTS
A Closer Look .................................................................................... 8-11
Canada - Provincial Entrepreneur Programs ............................... 12
MFP Smart Citizenship ................................................................ 13-16
Canada Start-Up Program ................................................................ 17
Canada Owner-Operator Program ................................................. 18
Canada Quebec Immigrant Investor Program ............................. 19 TRUSTED IMMIGRATION CONSULTANTS IN DUBAI, ABU DHABI AND THE UAE
Realize your dreams of a brighter future for you and your family by laying down the foundation today.
Take the next step towards your dream life with help from the best immigration consultants in Dubai, Abu Dhabi and the UAE – STEP GLOBAL.
UNITED STATES
United States E-2 Investor Visa ........................................................ 21
Bypassing U.S. Immigration Hurdles ........................................ 22-30
United States L-1 Visa ........................................................................ 31
United States EB-5 Immigrant Investor Program ........................ 32
Considerations for Selecting ...................................................... 34-37
CANADA
SPOTLIGHT ON SUCCESS
Is Your Boss an Immigrant? ........................................................ 38-40
WWW.STEPGLOBALGROUP.COM
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A M E S S A G E F R O M
THE EDITOR
s I look back on the past year and look
forward to the year ahead, I am excited
by so many aspects of the current immi-
gration landscape.
2019 has brought about a wealth of changes to both
American and Canadian immigration policy. We
have seen various provincial changes to the Cana-
dian Entrepreneur Programs. Most notably, Ontario
took steps to decrease the provincial entrepreneur
program investment amount to $200,000 CND out-
side the Greater Toronto Area (GTA) and $600,000
CND inside the GTA from $500,000 CND and $1 mil-
lion CND respectively. As a Canadian who has grown
up in Toronto, I personally look forward to welcoming
new businesses and immigrant investors to the place
I call home. The trend to extend open arms to new
business and entrepreneurship into Canada is fur-
thered by Canada’s Start-Up Program, which aims to
attract innovative ideas into Canada as a new North
American hub for technology.
The biggest change to happen this year was the
U.S. government deciding to continue operating the
United States EB-5 Immigrant Investor Program, but
finally at the higher price point of $900,000 USD in
targeted employment areas and $1.8 million USD
everywhere else. This is a change Congress has been
discussing for years and comes with a host of con-
troversy.
Many regional centers have thrown their hands up, as
new definitions of “targeted employment areas” and
increased investment amounts threaten economic
hardship on existing projects. Others see the chang-
es as a good way to curb the ever-increasing number
of applicants to the program.
In 2019, India was the third country (behind China
and Vietnam) to hit EB-5 retrogression whereby Indi-
an nationals had surpassed the annual 700 per coun-
try green card quota, and all further applicants were
pushed to the next year for visa issuance. This only
further illustrates the marked increase in number of
EB-5 applicants form 2008 until date.
Although these huge changes are occurring, I don’t
see North American immigration slowing down any-
time soon. Canada and the U.S. still remain the most
coveted of passports globally and it’s no secret why.
With highly recognized health care systems, educa-
tional institutions producing a host of uber success-
ful individuals worldwide, and a superior quality of
living, the Americas truly still remain the land of op-
portunities.
We have chosen to focus our 2020 edition of Smart
Citizenship on North America, specifically for this rea-
son. Learning about the various options available is
the first step to reaching your Canadian and Ameri-
can immigration goals. There truly is a path for every-
one, and we welcome the opportunity to take this
journey with you.
Sincerely,
Preeya MalikManaging Director
A
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C A N A D AC A N A D A
he approaching retirement of the baby
boomer generation means that the busi-
ness landscape is poised for a dramatic
shift.
According to the Canadian Federation of Indepen-
dent Business, 47% of business owners intend to
exit their business within the next 5 years, 8% within
the next 12 months, and 39% within the next 1 to 5
years. Over $1.5 trillion of business assets could be
transferred to a new generation of business owners
over the next decade, up 50% from the last estimate
in 2012. If these assets are not properly transferred,
for example, businesses simply cease trading, and
this would result in significant impact on jobs and
economy overall. The problem for the baby boomers
is that there are not enough local people wanting to
buy their business.
What is the nexus between business succession and
the provincial nominee, entrepreneur, program? The
provincial governments in Canada are actively look-
ing for foreign investment and entrepreneurs, who
are willing actively to invest and to start-up or to buy
a locally established business. The mechanics of this
process allow the foreign entrepreneur to enter Can-
ada on a work permit and then convert to perma-
nent resident status, subject to meeting mandatory
criteria. The dependent family will be included in the
entrepreneur’s application.
Each province and territory in Canada has its own
entrepreneur program and rules vary from one loca-
tion to another. The availability of programs, flexible
criteria, and appealing investment requirements,
make these programs highly attractive to prospec-
tive immigrants with relevant business background.
The assessment against the core criteria is made by
each provincial government and then the final pro-
cessing passes to the Immigration, Refugees and
Citizenship Canada, the relevant federal agency, for
the public interest criteria assessment (i.e. health and
character).
T
CANADAA CLOSER LOOK INTO
THE PROVINCIAL NOMINEE,ENTREPRENEUR, PROGRAM
C A N A D AC A N A D A
10 11
The Provincial Nominee programs are actively look-
ing for successful business people to immigrate and
to run a business in their province. These immigrants
will not qualify for permanent resident status on the
basis of passive investments, but on the basis of hold-
ing equity in a business and managing its operations.
• Each province has its own requirements relat-
ing to the assets held by the applicant and the
minimum level of investment in the business in
Canada (there will generally be an assessment
about the equity in the applicant’s business in
their own country)
• The path to permanent residence starts with
the applicant expressing interest in a province
and submitting an application for nomination
at the provincial level. The expression of interest
application will take into account a few factors
indicated below. In most instances, applicants
are granted temporary entry to Canada with the
right to work and they would subsequently apply
for permanent resident status, on the basis of en-
tering and managing their business
• Applicants are assessed on the basis of net worth,
business plans, professional experience, and
adaptability. While speaking English or French in
Canada is important, the threshold for the lan-
guage ability is the lowest on the Canadian Lan-
guage Benchmark scale (4 out of the maximum
10)
• The applicant is required actively to participate
in the management of the business on an ongo-
ing and daily basis
• The applicant is expected to have at least 2-3
years’ experience as business owner/senior man-
ager
• The business is expected to result in benefits to
the local community most commonly met by
creating/maintaining employment for Canadian
citizens or permanent residents of Canada
• An exploratory visit to the selected province is
advisable in all cases
• Having adequate resources to establish a life and
enter a business: the financial thresholds vary,
from a maximum of CAD$800,000 net worth in
Greater Toronto Area (Ontario) to lesser net worth
requirement in Saskatchewan and Manitoba
• Financial commitment to the business in Canada
also varies from CAD$600,000 to CAD$200,000 in
Greater Toronto Area (Ontario) to figures such as
CAD$150,000 in Manitoba
• If purchasing an existing business, the business
must have been in existence for the past 5 years
• Most programs allow for a work permit and grant
of permanent resident status after two years, on
the provision that the applicant enters Canada
and is managing the business.
The large numbers of existing businesses for sale in
Canada, can be a good solution for people looking
to transition into a new business environment. There
are lesser risks involved in purchasing a locally es-
tablished business (less start-up costs, seller remains
on board for mentorship, financials are in order, the
business is profitable) as opposed to starting a new
business.
Our concern is not just helping clients enter Canada,
but helping them successfully settle and build a life
in Canada.
THE ENTREPRENEURS AND THE PROVINCIAL NOMINEE PROGRAMS – THE PROCESS
We partner with various
stakeholders to ensure that
the local sel ler is matched
with the r ight entrepreneur,
thereby ensuring a smooth
immigration and sett lement
process for the entrepre-
neur and his/her family .
“
”
Cosmina is a Senior Manager at Fragomen, responsi-
ble for Canadian temporary and permanent residence
immigration matters. She also leads the firm’s private
client practice in Toronto.
Cosmina supports clients with various Canadian work
permit and entry visa requirements, including Labour
Market impact assessments, electronic travel authori-
zations, inadmissibility applications and permanent
residence filings. She also assists clients in understand-
ing their obligations with the immigration programs
and represents them in employer compliance reviews,
audits and inspections.
She is experienced in representing a mix of major
global businesses and smaller, locally based, business-
es across various industries, assisting them in imple-
menting cost-effective relocation strategies, as well as
planning the foreign population.
Cosmina regularly interacts with Immigration, Refu-
gees and Citizenship Canada’s domestic case process-
ing centers, the Canada Border Services Agencies at
various ports of entry, as well as Canadian Consulates
and Canadian Embassies worldwide, and provides
feedback to authorities on policy and procedural mat-
ters as part of the Toronto office’s government relations
team.
Cosmina has authored numerous articles and partici-
pates in the firm’s client mute calls.
Beginning in April 2016 to the present, Cosmina has
volunteered as a Mentor as part of the Women Mo-
bilizing Women program in Toronto, Ontario. She also
participates in the Toronto office’s initiatives working
closely with the Herbie Fund to provide the immigra-
tion services needed to bring children from around
the world to The Hospital for Sick Children, also known
as SickKids. These services have been provided since
2011. From 2004 to 2008, Cosmina volunteered at the
Fairview Mall Legal Clinic in Toronto, Ontario, where
she was primarily involved in provincial offences and
Canadian immigration matters.
Cosmina speaks English, French and Romanian.
COSMINA MORARIU
Osgoode Hall Law School | LL.M., 2018Nottingham (Trent) University | Bachelorof Law, 2014, honorsSeneca College | Immigration PractitionerCertificate, 2010University “Lucian Blaga” Faculty of Law,Sibiu (Romania), 2001, honors
C A N A D AC A N A D A
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PROGRAM SUMMARYPROVINCIAL ENTREPRENEUR PROGRAMS
INVESTMENT AMOUNT CND $150,000 TO $600,000(VARIES BY PROVINCE)
INVESTMENT TYPE Business Venture
SPOUSE Yes
CHILDREN Yes (under 22 years of age)
PARENTS No (can be sponsored after Citizenship)
PROCESSING TIME Varies by Province
PHYSICAL RESIDENCYREQUIREMENTS 3 out of 5 years
LENGTH OF STATUS RECEIVED 2 to 5 years
PERMANENT RESIDENCY Varies by Province
CITIZENSHIP 5 years of permanent residency
SPECIFIC PROGRAMREQUIREMENTS
Minimum Net Worth RequirementsSome provinces may only be open to
specific industries
NATIONALITY DISQUALIFICATIONS No
DUAL CITIZENSHIP Yes
hrough migration to Canada
you will be free to live perma-
nently in a country which has
consistently been rated by the UN as
the world’s best country to live in. Fur-
thermore, students in Canadian schools
performed better in mathematics, read-
ing and science than students from any
other English speaking country. Final-
ly, Canada enjoys universal healthcare
where medical treatment is publicly
(tax-payer) funded. For those who also
want access to other countries, citizen-
ship in Canada will allow for access to
the United States via the NAFTA Agree-
ment, as well as visa free or visa on arrival
travel to over 172 countries worldwide.
CANADA
TMFPSMART CITIZENSHIP
mart Citizenship engages people in pro-
cesses that respect and develop local
knowledge. Well grounded processes
re-prioritize our needs and interests as
knowledge is gathered and developed.
Smart Citizenship is intended to improve a person’s
quality of life. The primary focuses of this discussion is
on business and specifically, entrepreneurship.
The narrative of cause and effect that many believe
drives business and finance also drives our economic
status.
As your own best salesperson, your focus will be on
your own cause and effect journey, management
and transformation.
An inherent component of this focus will be toward
professional and social opportunities that offer a
platform for networking experiences, the exchange
of ideas and spawning international business deals.
International business deals may be driven by a de-
sire to develop a local market or the desire to physi-
cally move and adapt to a new market.
The possibility of a successful outcome will be ad-
vanced by gauging the market and determining the
best fit businesses for the target market as well as the
best fit for the Smart Citizen. Research, analysis and
due diligence of business opportunities and oneself
are critical to success throughout this process.
Smart Citizenship leads to personal consumption
choices and the individual autonomy to make those
choices. Choice and autonomy come with costs, re-
sponsibilities and the need for self awareness and
market awareness. Business offerings need to recog-
nize pre-determined targets and how to fulfill pre-
set deliverables.
S
C A N A D AC A N A D A
14 15
The most informed decisions leverage research, anal-
ysis and due diligence about the target destination
and opportunities therein as well as taking an unbi-
ased introspective analysis. The Smart Citizen needs
to understand the deliverables, the outputs and how
to successfully attain both.
Applying research, analysis and due diligence to the
Smart Citizen demands an in depth look at five key
elements: Skills, Experience, Passions, Desired Life-
style and Finances.
As a franchise consultant, it is my pleasure to em-
brace the qualities of Smart Citizenship into well in-
formed business decisions as it pertains to applying
for, and investing in, a franchise opportunity.
The ultimate objective is not the consummation of a
cursory search for the most affordable opportunity or
the latest trend. The goal is to translate the assets of
a Smart Citizen into a viable, satisfying opportunity.
Anybody can succeed in business, with the right op-
portunity. The goal of our combined effort, is to find
the right opportunity for you.
Migrating to a new environment demands patience
and focus. Partnering with an immigration consul-
tant with strategic partnerships can set you up for
long term success with business opportunities. Some
of these opportunities may be unknown to you at the
start of your journey.
A Smart Citizen understands the need for a strate-
gic partner on the ground in their new environment;
someone who understands the local market and has
the capacity and will to help them find the best fit
with a commitment to effective research, analysis
and due diligence.
If your migration process includes considering busi-
ness ownership options, then I suggest the training,
operating systems, on-going support and market-
ing of franchises. Looking beyond the horizon of the
most common brands will reveal many opportunities
with a history of strong performance.
As you are aware, the issue of ageism is gaining more
awareness of late. The best way to combat the risks
of ageism in the workplace, is to own the workplace.
Franchises afford you the opportunity to help peo-
ple develop and grow on a daily basis. As a business
owner, you have the opportunity to impact people’s
lives, everyday.
At My Franchise Partners, we apply the fundamentals
of Smart Citizenship to help ensure your success. For
example, you are not asked to pay franchise fees until
your immigration status is approved. Does the loca-
tion make sense for you and your family.
You will benefit from our connections to local legal,
accounting, marketing and real estate professionals.
We develop strategic partnerships with like mind-
ed companies locally and abroad, such as the Step
Global Group.
Through the important research and analysis of your
personal attributes and goals we will discuss various
options that could be a good fit for you. You will be
pushed to transcend your comfort zone, to under-
stand and explore the transfer of your skills and ex-
perience to new endeavours.
Early in the process, you will be asked to complete a
Business Owner Profile. This profile will help us un-
derstand your tendencies, attributes and potential as
a business owner and manager.
The Business Owner Profile will help identify if you
are more oriented toward established schedules and
plans, if you are better suited to the freedom of a
more flexible schedule or something in between.
We apply the fundamen-
tals of Smart Cit izenship to
help ensure your success.
“”
We will discuss your ability to delegate and lead a
team just as we will also delve into your need for
managing a personal schedule with children or de-
pendent adults. As a single parent for 18 years, I fully
understand the magnitude of managing multiple
schedules and expectations.
A franchisor’s management team will be considered
for their strengths and weaknesses as well as their
proclivity to working with certain types of candidates
and of course the nuances of the local market that
you are considering.
Item 7 of the FDD details the expected costs for the
initial 90 days of your franchise. Unless you are buy-
ing a successful re-sale franchise, it is improbable
that you will generate positive cash flow right away.
Together, we will work through an in-depth analysis
of Item 7.
We will walk hand in hand through the research,
analysis, due diligence, application and FDD review,
Discovery Day, training, grand opening and beyond.
Everybody can succeed in business with the right op-
portunity. Together, we will find the right fit for you.
Leading Opportunities. In-Depth Consultation.
Forward Thinking Analysis. No Fees.
Andrew HoffmanCP CMA FAAPM
President - My Franchise Partners
The best way to combat
the r isks of ageism in
the workplace, is to
own the workplace.
“
”
C A N A D AC A N A D A
16 17
CPA CMA CIPM FAAPM PROGRAM SUMMARYSTART-UP PROGRAM
INVESTMENT AMOUNT CND $150 000(RECOMMENDED)
INVESTMENT TYPE Business Venture
INVESTMENT TERM Yes
SPOUSE AND CHILDREN Yes (under 22 years of age)
PARENTS No (can be sponsored after Citizenship)
PROCESSING TIME 12 to 16 months
PHYSICAL RESIDENCYREQUIREMENTS
2 out of 5 years to maintain PR3 out of 5 years for citizenship
LENGTH OF STATUS RECEIVED Permanent status
PERMANENT RESIDENCY Immediately
CITIZENSHIP 3 out of 5 years of permanent residency
SPECIFIC PROGRAMREQUIREMENTS
Letter of support from qualifiedinstitution
Innovative business ideaDetailed business plan
NATIONALITY DISQUALIFICATIONS No
DUAL CITIZENSHIP Yes
EDUCATION IN CANADA
• free public school education
• (Preschool through High School)
• top rated universities
• tuition rates at 1/3 of international
student rates
• highest rated English curriculum
worldwide
CANADA
Andrew Hoffman is a single parent of one son, cur-
rently in University which motivates him on a daily
basis. He has over 30 years of success with business
development as well as financial and operations
management on the global stage. He has managed
budgets up to $85M for manufacturing, co-packing,
and sales and consulting organizations with single or
multi-locations and/or international commerce. An-
drew has also had a direct hand in operation strat-
egies which grew revenue by 10%+ for multiple suc-
cessive years in an industry with traditionally annual
growth of only 3%.
Andrew takes pride in helping investors make the
transition from Employee to Empowerment with in-
depth research, analysis and due diligence of fran-
chise opportunities. He is able to provide guidance
through the roll-out and business development
phases of a business launch. Not only does Andrew
deliver education and training webinars for franchise
industry professionals, but he also coaches entrepre-
neur owners of independent businesses.
The management of hyper-growth and start-up op-
portunities and aligning cross functional finance is
another area of Andrew’s expertise, which has given
him the specialization and skill to provide results for
turnaround situations for both start-ups and busi-
nesses in bankruptcy.
ANDREW HOFFMAN
C A N A D AC A N A D A
18 19
PROGRAM SUMMARYOWNER-OPERATOR PROGRAM
INVESTMENT AMOUNT MIN. CND $50,000(RECOMMENDED)
INVESTMENT TYPE Existing Business venture
SPOUSE Yes
CHILDREN Yes (under 22 years of age)
PARENTS No (can be sponsored after Citizenship)
PROCESSING TIME 6 months
PHYSICAL RESIDENCYREQUIREMENTS
2 out of 5 years to maintain PR3 out of 5 years for citizenship
LENGTH OF STATUS RECEIVED 1 to 2 years
PERMANENT RESIDENCY After 1 to 2 years
CITIZENSHIP 3 out of 5 years of permanent residency
SPECIFIC PROGRAMREQUIREMENTS
At least 50% ownership on purchaseof a business
NATIONALITY DISQUALIFICATIONS No
DUAL CITIZENSHIP Yes
HEALTHCARE IN CANADA
• universal healthcare for all residents
• healthcare paid by tax dollars
• free clinics and some free
medications
• special services for senior citizens
CANADA
PROGRAM SUMMARYQUEBEC IMMIGRANT INVESTOR PROGRAM
INVESTMENT AMOUNT CND $1.2M(ONLY CND $350K WITH FINANCING)
INVESTMENT TYPE Government Bonds
INVESTMENT TERM Yes
SPOUSE AND CHILDREN YesYes (under 22 years of age)
PARENTS No (can be sponsored after Citizenship)
PROCESSING TIME 24 to 36 months
PHYSICAL RESIDENCYREQUIREMENTS 3 out of 5 years
LENGTH OF STATUS RECEIVED Unlimited
PERMANENT RESIDENCY Immediately
CITIZENSHIP 5 years of permanent residency
SPECIFIC PROGRAMREQUIREMENTS
Investment term of 5 yearsPoints based profile system
Management and business experience required
NATIONALITY DISQUALIFICATIONS French speakers (regardless of nationality) may be admitted at any time
DUAL CITIZENSHIP Yes
FINANCING OPTION
• government approved financial
institutions
• upfront interest payment of CND
$350,000
• no monthly installments
• - full financing of CND $1.2M on
your behalf
CANADA
20 21
PROGRAM SUMMARYE-2 INVESTOR VISA
he United States of America
has long been known as the
land of opportunity. The U.S.
economy is extremely resilient and is
the world’s largest capital market. Fur-
thermore, it holds one of the strongest
currencies globally. Children have ac-
cess to free public education, and uni-
versity students have access to scholar-
ships, grants and 0% loans in line with
the government’s policy of the right to
education for every student.
Living the American dream in a diverse
society with world-class healthcare, a
wealth of employment opportunities
and entrepreneurial success can be at
your fingertips. A life of stability for you
and your family awaits you.
UNITED STATES
TINVESTMENT AMOUNT USD $100,000 TO $150,000
MINIMUM
INVESTMENT TYPE New Business
SPOUSE Yes
CHILDREN Yes (under 21 years of age)
PARENTS No
PROCESSING TIME 60 to 120 days
PHYSICAL RESIDENCYREQUIREMENTS
Must be physically present in the United States
LENGTH OF STATUS RECEIVED 2 to 5 years renewable
PERMANENT RESIDENCY Does not lead to Permanent Residency
CITIZENSHIP Does not lead to Citizenship
SPECIFIC PROGRAMREQUIREMENTS
Business Plans and Viability ReportsMust invest and work in a business in the
U.S
NATIONALITY DISQUALIFICATIONS Only available for nationals of Treaty Countries
DUAL CITIZENSHIP No
UNITED STATES E X P L O R I N G
O P P O R T U N I T I E S F O RU . S . I M M I G R A T I O N
U N I T E D S T A T E S U N I T E D S T A T E S
Migration is an expression
of the human aspirat ion for
dignity , safety and a better
future. I t is part of the so-
cial fabric , part of our very
make-up as a human family .
“
”Ban Ki Moon
BYPASSING U.S.IMMIGRATION HURDLES
22 23
eople are enticed to migrate to the United
States as the Great America is the apothe-
osis of land of opportunities with an abun-
dance of natural resources, better living
standard, and social and economic security. Migra-
tion to the Unites States begun as early as the 16th
Century due to which the land flourished as it was
fed and nourished by hordes of people appertain-
ing to different cultures, ethnicities and civilisations
thus making it today’s Great America. The migration
of people started with the first European settlements
around 1600. During this early phase of exploration
and settlement, British and other Europeans settled
primarily on the east coast because of the easy and
direct accessibility to East coast from Europe. Since
the early times the United States has witnessed suc-
cessive waves of immigration, predominantly from
Europe initially and subsequently from Asia, Latin
America and Africa. Migration to economically and
politically stable nations like the United States has
enabled individuals and families to secure the high-
est levels of life satisfaction, financial security, person-
al safety and health. A wealth of natural resources,
aero-space, IT, tourism, real estate, hospitality, infra-
structure and automobile manufacturing industries
provide ample of business, investment and employ-
ment opportunities to prospective immigrants in this
multi- cultural land.
The most straight-forward and the simplest way to
immigrate to U.S. is by investing into a new business
enterprise, such as a large hotel or residential proj-
ect under the EB-5 Immigrant Investor Visa Program
and become a lawful permanent resident or “green
card” holder. However, this particular EB-5 Investor
Visa category is now experiencing allocation delays
for certain countries. As the EB-5 visa has a strict cap
of 7%, only 700 out of 10,000 visas annually can be
allocated to one particular country and not more
than that. Consequently, the growing popularity of
the program is leading to halting backlogs for the
most popular countries. The EB-5 delays are mostly
P
affecting the Chinese applicants with a wait time
currently up to 14 years. Chinese being the custom-
ary investors have always eyed upon such immigra-
tion by investment options across the world and
have historically prevailed over the applicants from
other countries in such programs, often meeting or
exceeding quotas allocated to Chinese applicants.
However, even for Indian and Vietnamese applicants
the waiting time is tentatively between 2 to 5 years,
respectively. Other countries are experiencing aver-
age waiting times, as they are still far under the 7%
annual threshold.
In addition to these delays, there have been recent
amendments introduced by the U.S. congress in the
EB-5 Immigrant Investor Visa Program with effect
from November 21st 2019, marking the first signifi-
cant revision of the program’s regulations since 1993.
Under these amendments and as per the new regu-
lations, the standard investment level has increased
from $1 million to $1.8 million and the minimum in-
vestment amount in a TEA (Targeted Employment
Area) has increased from $500,000 to $900,000. Also,
as per the new regulations, the minimum invest-
ment amounts will automatically adjust for inflation
every five years, thus making the program pricier
in the coming years. Certainly, these amendments
have pushed this popular program out of affordabil-
ity reach of many, thus a stumbling block for such
prospective investors.
Alternatively, in such a dispiriting scenario, there are
ways to ease the pain of retrogression and notably
high investment under the EB-5 Immigrant Investor
Visa Program, one of which is by acquiring non-im-
migrant visas and entering the U.S. as a business in-
vestor.
Assuredly, the best visa category under this option
is the E-2 Investor visa. The E-2 Investor visa grants
residency status to investors, spouses, and minor chil-
dren. However, the E-2 Investor visa is only obtain-
able by a main applicant who is a national of a coun-
try which is an E-2 treaty signatory with the United
States. There are around 78 E-2 treaty countries. But
what does one do who is not a national of the lim-
ited E-2 treaty list? Can they still access the E-2 visa
process? The answer is yes.
Out of this bulky list only two E-2 treaty countries al-
low an investor to speedily acquire citizenship and
open the door to the E-2 visa: the Caribbean island
nation of Grenada and Turkey. The citizenship acquir-
ing process in these two countries is very straight-
forward and ranges from 3 to 6 months. Thus such
a short timeline and convenient process allow in-
vestors to acquire a Grenadian or Turkish passport
within few months and then enter the U.S. on Treaty
Investor status, under which spouses can obtain sep-
arate employment, and children can be part of the
education system of the United States.
U N I T E D S T A T E S U N I T E D S T A T E S
INTRODUCTION TO GRENADA CITIZENSHIP BY INVESTMENT PROGRAME-2 TREATY COUNTRY - GRENADA
NTF DONATION OP-TION
INDIVIDUALAPPLICANT
MAIN APPLI-CANT + SPOUSE
FAMILY OF FOURFAMILY MEMBERS
FAMILY OVER FOUR FAMILY MEMBERS
REQUIREDCONTRIBUTION AMOUNT USD 150,000 USD 200,000 USD 200,000
USD 200,000 plus USD 25,000 per additional dependant after the
third dependant
APPLICATION FEE USD 1,500 USD 1,500(per person)
USD 1,500(per person)
USD 1,500(per person)
DUE DILIGENCE FEE USD 5,000 USD 5,000(per person)
* Dependent child 0 – 16 nil
* Dependent child 17 – 25 USD 5,000
PROCESSING FEE USD 1,500 USD 1,500(per person)
USD 1,500 per person aged 18 and over, USD
500 for persons under 18
USD 1,500 per person aged 18 and over,
USD 500 for persons under 18
REAL STATEOPTION
SINGLEAPPLICANT
MAIN APPLI-CANT + SPOUSE
FAMILY OF FOURFAMILY MEMBERS
FAMILY OVER FOUR FAMILY MEMBERS
REQUIREDCONTRIBUTION AMOUNT USD 220,000 USD 220,000 USD 220,000 USD 220,000
GOVERNMENT FEE USD 50,000 USD 50,000 USD 50,000USD 50,000 and USD 25,000 peradditional dependant after the
third dependant
APPLICATION FEE USD 1,500 USD 1,500(per person)
USD 1,500(per person)
USD 1,500(per person)
DUE DILIGENCE FEE USD 5,000 USD 5,000(per person)
* Dependent child 0 – 16 nil
* Dependent child 17 – 25 USD 5,000
PROCESSING FEE USD 1,500 USD 1,500(per person)
USD 1,500 per person aged 18 and over, USD
500 for persons under 18
USD 1,500 per person aged 18 and over,
USD 500 for persons under 18
REAL ESTATE OPTION
24 25
he Caribbean island nation of Grenada is a
sovereign state in the West Indies. Grena-
da, known as the “Island of Spice” due to
its production of nutmeg and mace crops,
has a vivacious rich culture and history, with English
as the country’s official language. Being situated
along the tropics Grenada is situated between the
Caribbean Sea and Atlantic Ocean, north of Venezu-
ela and has a tropical wet climate with an average
annual temperature of 28°C which makes it one of
the most preferred destinations to visit and stay. The
country is ardently dedicated towards growth and
development, and is building up a robust education-
al, financial and medical infrastructure to align with
its emerging economic and demographic needs.
Grenada is an excellent choice for investment – pro-
viding applicants with the opportunity to participate
in its fast-growing tourism sector and diversifying
economy. This country is the ideal location for fami-
lies, granting access to world-famous educational in-
stitutions such as St George’s University and to com-
prehensive healthcare units.
The Grenada CBI programme provides second citi-
zenship in Grenada and a passport to investors of-
fering visa-free travel to over 143 countries including
the UK, EU Schengen countries and China. Grenada
also offers access for its citizens to the United States
E2 treaty investor visa. Applicants must invest either
$150,000 USD as a donation towards National Trans-
formation Fund (NTF) or $350,000 USD in a govern-
ment approved real estate project (can be reduced
to $220,000 USD for associated investors). The invest-
ment shall remain in place for at least 5 years.
The program has been a great success over the years
due to its relatively lower amount of investment and
its strong due diligence checks on applicants within
60 business days of the country receiving a complet-
ed application – the time in which an applicant can
expect his application to be processed by the
T
the Citizenship by Investment Committee. Its eco-
nomical approach and fast processing times have
made it affordable and feasible for most of the po-
tential investors, as with one investment, a family
can secure citizenship for the principal investor, that
investor’s spouse, children under the age of 30, and
parents over the age of 55. There is no requirement
to visit Grenada during the process and it is import-
ant to note that Grenada has no residency require-
ment for investors. There is presently no restriction or
embargo on any nationality from applying. With the
Grenadian passport in hand, an investor unlocks the
ability to apply for an E-2 visa.
DONATION OPTION
U N I T E D S T A T E S U N I T E D S T A T E S
26 27
INTRODUCTION TO TURKEY CITIZENSHIP BY INVESTMENT PROGRAME-2 TREATY COUNTRY - TURKEY
urkey is a transcontinental country located
at the crossroads of Europe and Asia. Tur-
key has emerged as one of the key players
in the world economic and political order
due to its strategically important geographical loca-
tion which provides it leverage. Turkey is bordered by
Greece, Bulgaria and Georgia to its north, Iran to its
east and Iraq and Syria to its southeast. Turkey has a
blend of different cultures and a diverse climate and
landscape.
The present Turkish government is staunchly devot-
ed towards transforming its national economy into
a high-return robust economy and it is focused on
bringing grassroot level reforms in the economy both
at the micro and macro levels. It is constantly making
earnest efforts to ensure a favourable environment
for new entrepreneurs in order to help them con-
veniently and efficiently start their new businesses.
Turkey has a high number of English-speaking skilled
young professionals which immensely contribute to
the economy by being the primary working force and
help in improving the average age of demographic.
A large number of multinational corporations’ view
Turkey as the perfect place to open a head, or region-
al office, as its strategic location, excellent logistics,
and favourable tax policies, enable them to access a
regional market of over 500 million people.
In order to further boost the flow of foreign invest-
ments in the country, in September 2018, the Turkish
government introduced another set of major reforms
in its immigration policy which considerably reduced
the minimum threshold investment amount re-
quired to be invested under its popular Citizenship
by Investment Program.
The main investment options under the Turkish CBI
program are:
• a minimum investment of $250,000 or more
shall be made in a real estate property for the
period of at least three years, or;
T
• a minimum of $500,000 or more shall be depos-
ited into a Turkish bank account at least for the
period of 3 years, or;
• a minimum of $500,000 or more shall be invest-
ed into a Real Estate Investment Trust (REIT), for
at least 3 years, or;
• purchase $500,000, or equivalent of government
bonds, and hold onto for at least 3 years.
The real estate option continues to prove the most
popular as the investment amount is significantly
lower than that of the other investment options, and
investors would like a tangible asset which will ap-
preciate over time. A Turkish passport allows visa free
travel (or visa on arrival) to 114 countries across the
world and makes one eligible to apply for an E-2 visa.
INTRODUCTIONTO THE E-2 VISA
nce a non-treaty national obtains a Turk-
ish or Grenadian passport, this will au-
tomatically provide eligibility to apply
for the E-2 visa status within the United
States.
The E-2 Investor Visa enables an individual to reside
and conduct business within the United States based
on an investment he will be controlling, while inside
the United States. The E-2 visa is active for three
months to five years (depending on the country of
origin) and can be extended indefinitely. The E-2 visa
is one of the most popular visas in the U.S. immigra-
tion system as its multifaceted dynamic enactment
is conducive to providing a manifold of options for
residency, investment and business to the individual
along with his dependents.
The program is a non-immigrant classification. This
means that the visa on its own will not lead to per-
manent residency in the United States. To obtain
permanent residency, an individual must petition
under another category at some point in time (such
as an EB-5 or and EB-1C).
O
U N I T E D S T A T E S U N I T E D S T A T E S
28 29
In order to obtain an E-2 Investor Visa, applicants
must make a “significant investment” into a US busi-
ness. Significant, meaning at least a 50% interest and
the business investment can be as little as $150,000
into any nature of a legal business, including fran-
chises.
Under the E-2, the investor needs to make a “sub-
stantial” investment. The minimum investment
amount is not clearly defined in the visa rules and
regulations but it is presumed that the minimum
investment amount is utterly dependent upon the
nature and the scale of the venture to be created
and the investment needs to be in proportion to the
nature and scale of the business. Different businesses
require different range of initial investment capital.
For example, small scale Start-ups like a consultancy,
being at the nascent stage requires a lesser invest-
ment amount which shall be enough to cover its ex-
penses and cost of running the business during the
incubation period. An investment for a larger busi-
ness venture, such as an automobile manufacturing
plant, will be probably in the millions.
Many investors find investing into a franchise as the
most viable option. Due to the well-defined and al-
ready executed business plan one can easily perceive
the prospective success chances of the business. A
franchise is a well-defined prototype emphasising
on defined minimum investment and hiring plans,
thus giving investor the ability to take leverage of a
well-established brand chain with ubiquitous good-
will across the country or continent. In addition, a
franchise offers the independence of small business
ownership by the benefits of a big business network
with relatively higher success rates than start-up
businesses.
Processing times are much shorter in E-2 as com-
pared to EB-5. This is one of the main reasons that
applicants with business or professional background
often consider E-2 as a more viable option than EB-
5, as it gives you a chance to regulate your own in-
vestment and execute your investment plans with-
in months of applying rather than waiting in long
queues for entry into the United States.
CONDITIONS FOR OBTAINING AN E-2 VISA
The E-2 visa is only obtainable by the national of the country which is E-2 treaty signatory
with United States. The main applicant shall be a citizen of one of the countries which has
signed the E-2 treaty with United States. There are around 78 E-2 treaty countries.
INVESTOR SHALL BE A CITIZEN OF ONE OF THE E-2 TREATY SIGNATORY COUNTRIES
01
Capital, including funds and other assets, shall be at commercial risk with the objective of
generating profit. Investment in business can be in varied modes. For example, you may es-
tablish a new business venture, purchase a pre-existing business or invest in a joint-venture.
Either way, you must demonstrate that the capital you are investing is substantial. No mini-
mum capital requirement is imposed.
SUBSTANTIAL INVESTMENT SHALL BE MADE IN A NEW OR EXISTING BUSINESS
02
The investment must be in a business that is allowed or permitted under the law of land.
The business must be a real, active commercial undertaking capable of producing goods
or services for the purpose of accruing profit. The business shall be capable of generating
enough income to provide a minimal living for the investor and his family or which makes a
significant economic contribution.
THE INVESTMENT SHALL BEINTO A LEGAL BUSINESS
03
It is crucial to demonstrate that the capital invested shall be irrevocably committed to the
enterprise and subject to partial or total loss in the event that the business fails. The funds
which you invest must also be your own. The invested funds must be substantial enough
vis-a-vis the total cost of either purchasing an established enterprise or creating the type of
enterprise you are considering. To be able to obtain an E-2 Visa, you must show a definite and
legitimate path of the source of capital you are investing.
THE FUNDS FOR INVESTMENT MUST BE ALREADY IN POSSESSION OF THE INVES-TOR AND THE FUNDS MUST DERIVE FROM A LEGITIMATE SOURCE OF INCOME
04
The investor must enter the United States with a determination to develop and direct the
investment enterprise. The managerial role of the investor must be illustrated by showing at
least 50% ownership of the enterprise or possession of operational control through a mana-
gerial position.
ACTIVE INVOLVEMENT IN THE MANAGEMENTOF THE BUSINESS
05
http://www.stepglobalgroup.com/immigration/
https://www.uscis.gov/working-united-states/temporary-workers/e-2-treaty-investors
https://www.cbi.gov.gd/grenada-citizenship/benefits/
https://www.invest.gov.tr/en/investmentguide/pages/acquiring-property-and-citizenship.aspx
U N I T E D S T A T E S U N I T E D S T A T E S
30 31
Albania Slovak Republic Trinidad & Tobago
Argentina Croatia Tunisia
Armenia Czech Republic Kazakhstan
Australia Denmark (excluding Greenland) South Korea
Austria Ecuador Kosovo
Azerbaijan Egypt Kyrgyzstan
Bahrain Estonia Latvia
Bangladesh Ethiopia Liberia
Belgium Finland Lithuania
Bolivia France Luxembourg
Bosnia and Herzegovina Georgia Macedonia
Bulgaria Germany Mexico
Cameroon Grenada Moldova
Canada Honduras Mongolia
Chile Iran Montenegro
China (Taiwan) Ireland Morocco
Colombia Italy Netherlands
Congo Jamaica Norway
Costa Rica Japan Oman
Paraguay Jordan Pakistan
Philippines Slovenia Panama
Poland Spain Turkey
Romania Sri Lanka Ukraine
Serbia Suriname United Kingdom
Senegal Sweden Yugoslavia
Singapore Togo
Deepanshu is a licensed lawyer and Head of Legal
at Step Global. He obtained his law degree from the
University of Delhi, India. Along with legal he also has
a Journalism and Communications background. He
is a Post Graduate in Business Journalism and Corpo-
rate Communication from University of Delhi, India
with a graduation in Journalism and Mass Communi-
cation from GGS Indraprastha University, Delhi, India.
He has practiced as an advocate and worked in dif-
ferent corporate verticals by blending his congenial
combination of varied and high educational qualifi-
cation and specialized work experience.
Deepanshu now specializes in global investment
immigration, with a focus on business and entre-
preneur immigration programs. He has represent-
ed Step Global by speaking at various international
immigration forms. Deepanshu’s integration of legal
acumen and corporate communications background
has equipped him to provide in-depth analysis of
immigration law of different countries, Investment
agreements, PPMs and other investment related
documents’ provisions to the clients, including com-
pliance with statutory framework.
His specialized skills set thereby enables him to deliv-
er principal market-oriented results.
DEEPANSHU CHOUDHRY
LL.B | Bachelors of Law | University of Delhi/, Delhi, IndiaPost Grad. | Business Journalism & Corp.Communication | University of Delhi, Delhi, IndiaSeneca College | Immigration PractitionerCertificate, 2010BJ(MC) | Bachelors of Journalism and MassCommunication | VIPS, GGSIPU University, Delhi,India
Legal Manager/ Step Global
U N I T E D S T A T E S U N I T E D S T A T E S
CURRENT TREATY COUNTRIES
32 33
PROGRAM SUMMARYL-1 VISA
L-1 ELIGIBILITY
The L-1 Visa is a transfer of skills from
a foreign country into the U.S. This is
why the investor is required to show at
least one year of managerial experience
abroad within the last 3 years. This en-
sures that the investor has the required
skill set to manage a business in the U.S.
In order to get a green card a second
process of EB-1 C is required after the
business in the U.S. has been open for at
least a year.
UNITED STATES
INVESTMENT AMOUNT USD $250,000 TO $750,000(MAY VARY BY BUSINESS)
INVESTMENT TYPE Business in the U.S.
SPOUSE Yes
CHILDREN Yes (under 21 years of age)
PARENTS No
PROCESSING TIME 30 to 90 days
PHYSICAL RESIDENCYREQUIREMENTS
Must be physically present in the United States
LENGTH OF STATUS RECEIVED 1 year subject to extension
PERMANENT RESIDENCY Eligible after 1 to 3 years on L-1 Visa
CITIZENSHIP After 5 years of Permanent Residency
SPECIFIC PROGRAMREQUIREMENTS
Detailed business plans and viability reports
Prove one year of managerial experience in prior three years
U.S. based business owned by foreign business
NATIONALITY DISQUALIFICATIONS No
DUAL CITIZENSHIP Yes
U N I T E D S T A T E S U N I T E D S T A T E S
“The fact is: It’s true what they say
about the United States. It is a land
of opportunity. It is too various to
get bored with it.”
Christopher Hitchens
34 35
“America was not built on fear.
America was built on courage, on
imagination and an unbeatable
determination to do the job at hand.”
Harry S Truman
U N I T E D S T A T E S
INVESTMENT AMOUNT USD $900,000
INVESTMENT TYPE Approved EB-5 Project
SPOUSE Yes
CHILDREN Yes (under 21 years of age)
PARENTS No but can be sponsored after Citizenship
PROCESSING TIME 18 to 24 months (average)
PHYSICAL RESIDENCYREQUIREMENTS
Land once every 6 months to maintain residency
Live 2.5 out of 5 years for Citizenship
LENGTH OF STATUS RECEIVED Non-expiring green card/permanent residency
PERMANENT RESIDENCY Immediately
CITIZENSHIP After 5 years as Permanent Resident
SPECIFIC PROGRAMREQUIREMENTS Must show legal source of funds
NATIONALITY DISQUALIFICATIONS No
DUAL CITIZENSHIP Yes
EDUCATION IN THE U.S.
• superior English language
curriculum
• globally top rated universities
• free public education (Preschool
through High School)
• drastically less resident tuition rates
compared to international students
in university
UNITED STATES
PROGRAM SUMMARYEB-5 IMMIGRANT INVESTOR PROGRAM
U N I T E D S T A T E S
36 37
FACTORS FOR SELECTING/STARTING A U.S. BUSINESS
There are many foreign nationals who are interested in lending their professional and business acumen to
start a business in the United States but are not yet sure of what type of business to establish or are hesitant
to start up their own. These foreign nationals may consider a franchise business where the foreign national
can rely on the franchisor’s business model, and recognizable brands and products to increase likelihood of
success.
The foreign national – taking on the role of both franchisee and executive – will own and have equity in the
franchise business and can rely on the franchisor to assist with operating the business, including hiring em-
ployees. This type of arrangement then allows foreign nationals to invest in and own multiple franchises, and
ideally multiple franchises will lead to increased financial returns for the foreign nationals. Even though the
foreign national is not required to work in the actual franchise store day-to-day, the foreign national will be
working on the overall franchise business by making executive-level strategic and growth decisions in further-
ance of developing and, in many cases, expanding their franchise business.
For those considering selecting a franchise in the U.S., here are some important factors to consider before a
final decision is made.
Not all franchises are created equal. Today’s popular or trendy dessert concept may be tomorrow’s empty
space for lease. Although every entrepreneur or company understands risk is inherent in business, the differ-
ence is normally your family doesn’t have to leave a country if a business fails. Thus, similar to EB-5, a smart
investment or decision is one that also minimizes as many risks as possible.
Ideally the franchise you’ve selected is not only successful, but has shown that it is stable and battle-tested to
withstand both history and fickle consumer tastes. Look for a business that has shown it can survive the love
(and attacks) of Yelp! and Tripadvisor as well as rollercoaster economic cycles.
STABLE, PROVEN FRANCHISE BUSINESS:
As important as the underlying franchise business is, it’s arguably even more important to consider whether
you are entering into a deal directly with the master franchisor or parent company, or simply a franchisee or
other third-party middleman. They will ultimately be your partner after all and one that you may need to rely
on to help manage or operate your U.S. business, meet your immigration goals, and if you so choose, provide
a viable exit strategy in the future.
PARENT COMPANY VERSUS FRANCHISEE:
The L-1A and EB-1C visa categories for multinational executives or managers is a two-step process towards
United States’ legal permanent residence, also called a “green card”, and is a viable alternative route for many
foreign nationals.
1
2
U N I T E D S T A T E S
s the current political climate, visa back-
logs, and general immigration uncertain-
ties continue to prevent talented and
skilled foreign nationals from entering the United
States and obtaining a green card, foreign nationals,
particularly from Asia are in search of other lawful
avenues to move to the United States.
For example, Indian-nationals who wish to pursue
the H-1B Specialty Occupation visa are looking at a
minimum wait time of 20 years before they can ap-
ply for a green card and officially settle down in the
United States. Chinese-nationals who once upon a
time were the primary recipients of the EB-5 visa, are
forced to wait approximately 14-16 years before they
can apply for a conditional green card and settle in
the United States. As such, investors and entrepre-
neurs from these countries are looking toward other
avenues to move to the United States and achieve
their business and immigration goals. And while the
supply of immigrant visas has seemingly decreased,
the demand to live, work, and educate children in
the United States continues to increase.
A
BACKGROUND ON THE L-1/EB-1C PROGRAM
CONSIDERATIONS FOR SELECTING AN L-1/EB-1C U.S. FRANCHISE BUSINESS January 6, 2020 By: Niral Patel, Esq. and Phuong Le, Esq.
In light of having to search for other ways to immigrate to the United States, the L-1A/EB-1C visa categories
have grained traction for well-qualified investors and entrepreneurs who A) have a foreign business and B)
wish to open a new business in the United States or acquire an existing business.
U N I T E D S T A T E S
I f we cannot now end
our dif ferences, at least
we can help make the
world safe for diversi ty .
“
”
38 39
Phuong Le is a Partner with David Hirson & Partners, LLP’s dedicated EB-5 practice group. He draws upon an
extensive background advising parties on all sides of EB-5 transactions, including regional centers, project de-
velopers, agents and investors. Prior to joining the firm, he was in-house counsel for a large Southern California
EB-5 regional center and real estate developer. There, he managed over $500 million in EB-5 financing and
guided the company to several milestones, including approvals for their first 100 I-829 petitions. His clients
span the entire industry. He has successfully advised regional centers and businesses across the United States
on over $1.5 billion in EB-5 deals, including commercial real estate developments, multifamily apartment
buildings, hotels, medical office buildings and restaurant franchises. He also oversees the firm’s Vietnamese
practice group and regularly travels to Vietnam where he works closely with the firm’s business partners,
agents and investors. Finally, he also frequently shares his knowledge with the industry as a lecturer, author
and as co-counsel/peer review for other EB-5 attorneys.
PHUONG LEDavid Hirson & Partners LLP
John F. Kennedy
U N I T E D S T A T E S
Similarly, you should understand if whoever you’re entrusting with your U.S. business has shown that they can
successfully operate more than one location, whether it’s an operator, management company, or franchisee. If
it’s their first time handling more than one location, beware.
SUCCESSFUL, MULTI-UNIT OPERATOR?:
Be wary of “business opportunities” looking for overseas financing that want you to put up 100 percent of the
money but only give you half of the ownership. Just because it satisfies immigration requirements doesn’t
mean it’s suitable for your business needs.
BUSINESS VALUATIONS AND YOUR INVESTMENT:
Once you entrust your U.S. business to a manager or management company, ongoing transparency and mon-
itoring is key. Many a business fail because people trust a family friend or acquaintance with operating their
business or decide to go into business with them without considering whether they are prepared to guide
the business to fulfill their business plan –namely whether it can continue to grow and hire enough people to
support an EB-1C green card. Moreover, it’s in your interest to find a business that will allow you to monitor
how your business is doing regardless of where you are in the world, whether through professionally prepared
reports or real-time tracking through point-of-sales systems that provide information about how much daily
sales your business is generating.
TRANSPARENCY & ACCOUNTABILITY:
The best type of franchises will continue to offer their franchisees ongoing support and training once they
come on board.
While the above list presents several key concepts, the good news is that it is possible to find U.S. franchises/
businesses that meet the above criteria. Of course, the best option is always situation specific including one’s
appetite (or tolerance) for risk.
TRAINING AND SUPPORT FOR U.S. FRANCHISEE:
3
4
5
6
U N I T E D S T A T E S
WORLD RENOWNED COMPANIES AND THEIRIMMIGRANT FOUNDERS
40 41
We often see families who are gaining migration for the benefit of their children, both for education and for fu-
ture prospects. Families can be encouraged by the attraction of international students into the United States,
which further fosters a sense of entrepreneurship. About 23% of immigrant founders first came to America as
an international student. Companies such as Affirm, JetSmarter and Warby Parker were started by immigrants
who first came to the U.S. as children, which gives families hope that the American Dream can come true.
Outside of founders of companies, it is also a fact that immigrants have played a key role in the expansion of
businesses by fulfilling important positions such as Chief Executive Officer and Chief Technology Officer.
Credit to these extraordinary entrepreneurial minds cannot be given to just first-generation immigrants. Sec-
ond-generation immigrants (children born to first-generation immigrants) have also done wonders for the U.S.
economy and for history as a whole. Did you know that Apple’s founder Steve Jobs’s father was Abdul Fattah
Jandali, a political migrant from Syria? Amazon’s founder Jeff Bezos is the son of a Cuban immigrant. These
are again, two of the largest companies in history.
Let’s explore some of the other companies which you know of and which were also started by immigrants:
Founded by Elon Musk, a South African Immigrant. SpaceX and
Tesla are responsible for acombination of 18,000 jobs.
Co-founded by Jerry Yan, aTaiwanese immigrant. Yahoo brought in over $5 billion in
revenue in 2017 alone.
Founded by two Germanimmigrants, Charles Pfizer and Charles Erhart. Pfizer employs
96,500 people.
Everyone knows Google, co-founded by Russian immigrant, Sergy Brin.
Google employs over 85,000 people and brought in over $110 billion in
2017.
Is it true? Immigrants are almost twice as likely as native born Americans to become entrepreneurs? A study
from the National Foundation for American Policy has stated that 55% of $1 billion startups in the United
States had at least one immigrant founder. Nearly 30% of new companies in 2016 were started by immi-
grants. These companies are generating billions of dollars in revenue and also creating millions of jobs each
year. Imagine what the country would lose by continuing to implement restrictive policies on immigrant and
refugee entry into the U.S.!
The companies we are talking about are not small. The collective value of 50 immigrant-founded companies
is approximately $248 billion. Think Uber and E-bay, co-founded by Garrett Camp (Canadian Immigrant) and
Pierre Omidyar (French immigrant) respectively. Not only have immigrants shared skills and knowledge in
starting up such wildly successful companies, but they have also provided the vast majority of employment in
the U.S. On average, these immigrant founders create 1200 jobs per company.
IS YOUR BOSSAN IMMIGRANT?
We don’t bel ieve in a
world of us versus them;
we look at the world as
al l of us together.
“
”
42 43
In 1991, Dara graduated with a B.A. in biotechnolo-
gy engineering from the renowned Brown University.
He went on to join Allen & Company as an analyst. Af-
ter several years, Dara became President for USA net-
works and later Chief Financial Officer for IAC. When
IAC purchased Expedia in 2001, Dara quickly rose to
the top to become CEO by 2005. By 2015, Expedia
gave Dara a $90 million stock option conditioned on
him staying with the company until 2020.
Under Dara’s tenure, Expedia became the largest on-
line US travel agency. They had extended the compa-
ny’s presence to more than 60 countries worldwide
and acquired Travelocity, Orbitz, and HomeAway.
Rather than staying on with Expedia, Dara forfeit-
ed his unvested stock options to take a CEO posi-
tion with Uber. He now manages the company’s
fast-growing business in over 63 countries worldwide
and leads a global team of over 22,000 employees.
Dara’s uncle, Mr. Hassan Khosrowshahi is an Irani-
an-Canadian billionaire who founded the well-known
Canadian chain, Future Shop, later sold to Best Buy.
Given Dara’s history, he has been an outspoken critic
against the immigration policy of Donald Trump, in-
cluding the travel ban. He encourages kids to go to
school for computer information systems and engi-
neering to learn problem solving, even if they will be
entering a different career in the future.
55% of America ’s Bi l l ion-
Dol lar Startups have an
Immigrant Founder.
“
”Forbes. Anderson, Stuart.October 25, 2018.
SPOTLIGHT ON SUCCESS
DARA KHOSROWSHAHIn this edition of Spotlight on Success, we
would like to focus on one brilliant man who
came to the United States as a refugee and is
now one of the highest paid CEO’s in the world.
Previous CEO of Expedia Group and current CEO of
Uber. These are just two of the positions which adorn
the CV of Mr. Dara Khosrowshahi.
Dara is an Iranian-America born in 1969 to parents
Asghar Khosrowshahi, and Lili Khosrowshahi. He was
born into a wealthy and affluential business family.
In 1978, just before the Iranian Revolution, the fam-
ily’s company in Iran was seized, and they first fled
to southern France to wait out the failing of the rev-
olution. When the revolution did not fail, his family
decided to move to the United States to join other
family members. Dara was only nine years old when
he arrived in New York as an Iranian refugee.
The family was separated from Dara’s father when he
went back to visit Dara’s ill grandfather, and the Irani-
an government would not let him leave for 6 years to
go back to the United States.
I
Some of the U.S. ’s biggest
companies are founded by
immigrants.
“
”Fast Company. Grothaus, Michael. July 26, 2018.
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yrig
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) 202
0. S
TEP
GLO
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MC
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+971 4 770 7825
www.stepglobalgroup.com
JLT, Cluster N, Jumeirah Business Center (JBC) 4,
Office 3203, Dubai, UAE
Programs listed in this guide are current but may change over time and without notice. In addition, this document is meant to be a
comprehensive guide to global migration programs available under the Investment, Entrepreneur, and Skilled Employment categories.
However, it is possible that not all programs will be available at a given time. Please contact us for further information.
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