SMART CITIZENSHIP - stepglobalgroup.comstepglobalgroup.com/docs/web20.pdf · We have chosen to focus our 2020 edition of Smart Citizenship on North America, specifically for this

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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

8 9

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


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


12 13

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


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.

“

”


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)


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


Letter of support from qualifiedinstitution

Innovative business ideaDetailed business plan



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


18 19

PROGRAM SUMMARYOWNER-OPERATOR PROGRAM

INVESTMENT AMOUNT MIN. CND $50,000(RECOMMENDED)

INVESTMENT TYPE Existing Business venture

SPOUSE Yes



PROCESSING TIME 6 months


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


At least 50% ownership on purchaseof a business



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)


PROCESSING TIME 24 to 36 months

PHYSICAL RESIDENCYREQUIREMENTS 3 out of 5 years

LENGTH OF STATUS RECEIVED Unlimited


CITIZENSHIP 5 years of permanent residency


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


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


PARENTS No

PROCESSING TIME 60 to 120 days


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


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.


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)


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)



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


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


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


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


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


PARENTS No

PROCESSING TIME 30 to 90 days


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


Detailed business plans and viability reports

Prove one year of managerial experience in prior three years

U.S. based business owned by foreign business




“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


PARENTS No but can be sponsored after Citizenship

PROCESSING TIME 18 to 24 months (average)


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


CITIZENSHIP After 5 years as Permanent Resident

SPECIFIC PROGRAMREQUIREMENTS Must show legal source of funds



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


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


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.


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


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


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.

Cop

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TEP

GLO

BA

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MC

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+971 4 770 7825

[email protected]

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.

C O N T A C T P L E A S E N O T E

Documents

SMART CITIZENSHIP - stepglobalgroup.comstepglobalgroup.com/docs/web20.pdf · We have chosen to focus our 2020 edition of Smart Citizenship on North America, specifically for this