Unique Pizza and Subs Corporation announced it will implement a EB-5 Visa Program and has sources for potential investors in China. According to a news release, Unique Pizza and Subs will use its efforts to qualify and acquire potential investors and will help them prepare, complete and file their USCIS EB-5 application petitions.
The EB-5 Immigrant Investor Program, which has been in existence since 1990, is a source of venture capital for U.S. enterprises. Under the program, qualifying foreign nationals can receive a green card with a minimum investment of $500,000 if they are able to prove that their at-risk money has created at least 10 jobs for U.S. citizens. The purpose of the EB-5 Program is to help stimulate foreign investment in the U.S., with the goal of boosting the economy and creating jobs.
China is now the dominant market for EB-5 investors. The number of Chinese EB-5 applicants, which has been growing since 2008, represented more than 80 percent of the 2012 applicant pool that generated a reported $1.8 billion in total investment. For Fiscal Year 2011, The USCIS reported that China accounted for 73 percent of the total EB-5 visas issued. The influx within the past several years of Chinese EB-5 investment into the U.S. is one of the reasons why Washington, D.C. opened a Shanghai representative office in 2012. According to the Heritage Foundation's January 2013 China Global Investment Tracker report, China invested a record $54.2 billion in the U.S. in 2012.
"The EB-5 Program will act as a complement and a catalyst to our frozen pizza program and future franchise sales in China. One of the biggest challenges EB-5 investors face is the success of their business after they have made their initial investment. Unique has plans to open corporate and franchised locations in the areas in which the investors will come from. This will allow potential investors to see, touch and taste their investment beforehand and allow them to be fully trained before their life changing move," said James Vowler, president and CEO of Unique Pizza and Subs Corporation. "In the next couple of weeks, we expect to announce that Unique Pizza will be partnering with a firm that will help navigate the complexities of cross border transactions and will take advantage of their extensive network of contacts in China."
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