Select Highlights of the Interview with Felix from India
EB-5 Investor in the EB5AN Snake River Rural EB-5 Project (Green Cards Approved)
- “So the approval felt like a major weight lifted. Also, when the physical Green Card arrived at the lawyer’s office, we were in India. I was on a vacation and it was a pretty happy moment knowing that we would be returning back to US as lawful permanent residents.”
- “Again, from EB5AN, I definitely appreciate the way you guys helped me out through the entire process. You guys kept me updated with the Snake River project. Even now, you guys send me every quarter all the important milestones and everything, and also the investment details and the potential investment returns that I’m making out of it. So it’s progressing as I expected. A good thing to know is that the project is on time and it’s meeting all its milestones. It created more jobs than originally indicated and the units are selling. So those all are good indicators for me.”
- “Yes. The operative word here is certainty, right? That’s very important. For me and my wife, it definitely expands our professional choices. As a matter of fact, I have already gotten into the consulting career and I’m expanding myself here, no more restricted to a single employer or sponsor. So that really, really helps me. No visa limitations on that.”
Full Interview with Felix from India
EB-5 Investor in the EB5AN Snake River Rural EB-5 Project (Green Cards Approved)
Transcript of the Interview with Felix from India (Part 2)
My Background and Why I Chose EB-5
Hi everyone. This is Sam Silverman, managing partner of EB5AN. Thank you for taking time to join us for today's webinar presentation. Today we're going to be speaking with Felix, an EB-5 investor in our Snake River Sporting Club rural EB-5 loan project. And we'll be discussing with him his experience selecting an attorney, pursuing various EB-5 projects and ultimately selecting the Snake River Sporting Club sponsored by EB5AN for his investment.
So to start with, Felix, thank you for taking some time to join us today. Let’s start by just introducing yourself, share a little bit about your background, your bio, and obviously congratulations on getting your physical Green Cards for you and your family. And yeah, just tell us a little bit about yourself and what prompted you to pursue EB-5.
Sure. So Felix Francis here. We moved to US, actually, I moved to US in 2017 and my family joined me in 2019. And initially we planned just to stay temporarily here. We had no plans of staying long term from Canada when we came here. But slowly and steadily as kids got settled into the school and we got settled in our jobs, we felt the need to look for some longer term opportunities here. And that’s when we started looking at EB-5 as an option.
My company was ready to sponsor me on H-1B and they were looking at different options as well, but I thought the fast way, just because of the backlog in H-1B for Indian-born professionals, it was safer to move with EB-5. And that was around 2021, ’22 when we started looking at it.
At the time, there was a brief period where things were not really clear. We weren’t sure as to whether the program would be renewed when Biden administration had just come in. And I think it was ’23 or ’22, late ’22 or ’23, that’s when the picture became clear and I seriously started looking into this program.
Choosing an Immigration Attorney and Preparing Source of Funds Documentation
Got it. And so once you had decided EB-5 was the right fit for you and your family, what was it like exploring potential EB-5 immigration attorneys, interviewing, doing research, and what kind of led you to ultimately pick the attorney that you did? And then how was that process going through source of funds documentation?
So I had gotten in touch with you guys way back in 2021. That’s when I was looking at different providers or someone like you and a few others that I had considered. One of my friends, a close friend of mine who actually did the investment and took the same path as I did, gave me some references as well.
So I remember talking to you or someone at EB5AN, and at the time, as I mentioned to you, I wasn’t really sure whether I wanted to pursue 100%. And because of some of the ambiguity around the continuation of the program, I really didn’t pursue at the time.
But then I was constantly watching the videos that you guys were uploading and I was constantly watching the website where you guys were uploading blogs or information. So that kind of helped me have a clarity in terms of how the process is, how much time it’s going to take and the investment opportunities, what kind of investments we need to do, rural versus urban and everything.
So there was a lot of clarity provided through your videos and the guest speakers that you would bring in or your own experts. So that’s how I stayed connected with this whole process.
Okay, got it. And so once you had engaged an attorney, what did that source of funds process look like in terms of providing documents, going back and forth, getting all of that organized?
So I went with Fred Voigtmann in California and that was again a reference provided by you, Sam. I remember having this chat, you had provided me references of at least five or four or five you had provided and I spoke to each one of them. I had sessions with each one of them trying to understand what the requirements are going to be and the fee structure and everything around it.
So once I settled with Fred, I started the whole process immediately because once I had made up my mind and once I knew I’m going full steam into this, the game plan was all drawn out properly by Fred and obviously your team was helping out with the investment plan at the Snake River Sporting Club property.
So getting the documents, there was kind of a checklist if I remember that was provided and it was very clear in terms of what the requirements are going to be from my perspective, the documents that I need to provide, whether it was to do with my job, my education, the trail of income or properties or even shares that I was going to be selling, all those stuff was given or a good understanding was given of what all documents I need to prepare. So I got started with those things.
Receiving Our Green Cards and the Immediate Benefits
Got it. Okay. And so since the physical Green Cards came pretty recently, tell us about how you felt when you learned the news you got approved. Who did you tell first? Where were you when you found out? How was your family feeling when you got the physical Green Cards in person?
Sure. Yeah. I mean, greatly relieved only because of the fact that there was a lot of chatter around the gold card proposal, which I believe is in effect right now and the possible new fees and uncertainty for legacy investors like me. I wasn’t sure what it would look like. So the approval felt like a major weight lifted.
Also, when the physical Green Card arrived at the lawyer’s office, we were in India. I was on a vacation and it was a pretty happy moment knowing that we would be returning back to US as lawful permanent residents.
In terms of the first person I mentioned it to, it was my daughter because she’s a sophomore at Purdue and that meant that her status changes from international, she was born in Canada, from international she changes to domestic. And we had an immediate impact of that because we were saving close to $3,000 as a result in the tuition.
Why I Chose the Snake River Sporting Club Rural EB-5 Project
Yep. Great, great. That's amazing. All right. So looking back through the process, tell us a little bit about Snake River and obviously it's a rural project. What made you feel comfortable with the Snake River project in particular and why was going for a rural project really, really important for you?
So let me answer it in two parts. First and foremost, I kind of knew that I was going for the rural TEA as it is the urban, although there were projects in the urban which probably would’ve given me better returns, but I kind of knew that TEA would give me a faster path and it was kind of necessary because my kids are not born here. They were born in Canada.
So at least for my oldest one so that she can have the benefit immediately right after graduation and she is looking for work in North America rather, it should give her the opportunity of both US and Canadian market. So I kind of knew that rural TEA is going to be my preferred choice.
Once I made that distinction, I think again, your team helped me out with the projects available at the time and there were few projects which were available and out of fit.
I think Snake River had not received I-956F approval at the time, but I still went ahead with it because you guys have done a pretty good job in terms of providing me with the background information and all the projects that you guys have chosen up until that time, they all had I-956F approvals, which meant that your due diligence was thorough.
So I was pretty confident that although at the time when I was going in with my investment, it didn’t have the approval, but it’ll come through. And also the other major reason I went with Snake River was because my investment would be put into work immediately as it means it’s sitting in the escrow or sitting in the account for a period of time.
So there was no incubation or anything, so it was quick. It was immediate. That was another reason I went to the Snake River.
My Experience Working with EB5AN
Gotcha. Okay. That makes sense. So looking back, just tell us about your experience working with EB5AN. I know you mentioned you considered a couple of other regional centers as you were doing your diligence.
Separate from the project itself, what about your experience interacting with the EB5AN team, what made you more confident, more comfortable that this was the right place for you to get your application completed and submitted?
Separate from the project itself, what about your experience interacting with the EB5AN team, what made you more confident, more comfortable that this was the right place for you to get your application completed and submitted?
Again, in terms of choosing EB5AN, that was because it wasn’t like I met you guys in January and then I made my decision in mid-January to go with you guys. It took a while before I committed.
And the reason why I made up my mind or the way I was able to get information, as I mentioned before, the videos that you guys used to upload, the blogs, the information booklets that you guys provided me made me feel comfortable with you guys.
And each and every one that I interacted with you or with your other team members, especially during the investment, all the documents related to investment that was being ready for me, it was a very, very smooth process and I was certainly happy because remember, while I’m doing all this stuff, I have my day job and I travel a lot as part of my day job.
So it wasn’t like I had the luxury to sit down and do a whole lot of work, which majority of stuff was taken care of by you guys and Fred, obviously. So that was a good smooth process overall that I felt.
Got it. Okay. As you were evaluating projects and regional centers, how important was it to be able to review all the documents, review the financial statements, really have all available documents and information available so that you could see everything about the project? And obviously no investment is risk-free, but at least you'd be going in knowing all the information that there was to know.
Yeah. So first was the process of making sure that I had all the documentation in relation to the investment amount ready. So I was raising all the funds within North America, so the trail was straightforward, but we still had to gather all the bank records and all other work related stuff and connect them. So that was done.
And then the part where I had to choose the project, as I mentioned, you guys had few options available at that time for TEA, and the most important criteria obviously was I wanted to put my money into work as quickly as possible and making sure that the job creation was done and the project was through a reputable developer.
And all those things did make a difference in coming up with this decision. And around that time is when you guys were educating through your blogs and videos how to select an investment and what kind of criteria to use. So all those things helped. So that was a great resource for me.
Advice for Other EB-5 Investors
Got it. Okay. That all makes sense. Now having gone through the major steps of the process, what advice, what tips would you have for other investors considering making an EB-5 investment over the next few months? What were some of the things that you thought, these are really good suggestions and things that I would want to pass on to friends or family members who are also considering EB-5?
Sure. So I’ve met a lot of folks during this journey who also either wanted to go take the EB-5 route or they came and spoke to me at various different stages after they came to know that I was taking this route.
Again, every person’s situation is different depending on where they are in their career, their family needs, finances. It’s all different, right. Now, also depending on their immigration objectives, whether they want to be in the US for long term or short term, are they looking for their own kids? Or if their kids are born here, then it’s a little different.
So I would say that if their primary goal is to remove any uncertainty and create a continuity in their professional and family life, I’m pretty sure EB-5 stands right up there and that’s a reliable option as well. This is especially true if their skills are in demand and also if their current visa status restricts them choosing their career choices or diversifying themselves, then EB-5 comes in really handy.
So I would tell any new investors to focus on three things, especially choose the right project, understand the immigration structure and the source of funds. Documentation has to be really, really clean. That’s where the lawyers come in and they do their due diligence and then let you know what kind of requirements are there.
Got it. Okay. That's really helpful. Looking back again, I know you work closely with Fred and his team. They're great. We've had a lot of clients have success with them. Would you recommend Fred and his team, Fred Voigtmann and EB5AN to other EB-5 investors and why, given your own personal experience?
Definitely. So Fred as well as EB5AN, both great partners, I would say. Fred did his job. I know he sometimes gets overwhelmed with questions and queries and all those things, but I’m pretty happy with the way he handled our stuff and the way he was able to submit everything.
So I’ll definitely be partnering with him in future as well if circumstances arise. Again, from EB5AN, I definitely appreciate the way you guys helped me out through the entire process. You guys kept me updated with the Snake River project.
Even now, you guys send me every quarter all the important milestones and everything, and also the investment details and the potential investment returns that I’m making out of it. So it’s progressing as I expected. A good thing to know is that the project is on time and it’s meeting all its milestones. It created more jobs than originally indicated and the units are selling. So those all are good indicators for me.
Green Cards, Career Freedom, and Long-Term Certainty
Perfect. Perfect. And now that the Green Cards are approved, you have them for you and your family members, how is that, other than saving money with tuition obviously is great, but how is that impacting your professional plans and your long-term plans now that you have that solidified?
Yes. The operative word here is certainty, right? That’s very important. For me and my wife, it definitely expands our professional choices.
As a matter of fact, I have already gotten into the consulting career and I’m expanding myself here, no more restricted to a single employer or sponsor. So that really, really helps me. No visa limitations on that.
Again, long term for kids, they have the option either to graduate from Canada or US, and also they have the workforce, whichever market they want to join, they have those options. So yeah, it’s a good thing.
Perfect. Yeah. Very happy for you and your family and glad that everything has gone according to plan and on track. And yeah, we look forward to just continuing to get you all the information and for the Green Card to become permanent in the future.
Thanks, Sam. Thanks for your partnership and your team as well. You guys have been great in this entire journey and look forward to talking to you guys in future as well.
Perfect. Thank you so much, Felix. We appreciate it. Have a good day.
You too. Take care.
