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Restaurants are increasingly using EB-5 to attract backers from overseas who will help them expand domestically.
When Latin hip-hop star Pitbull acquired a high-profile equity stake in Miami Subs last year, the Miami-based sandwich specialist saw the arrangement not only as a way to build brand interest among the rapper’s millions of fans worldwide, but also to attract international backers through a government program that offers a streamlined path to citizenship for certain investors.
The program, which was developed in 1990 to promote job creation and capital investment, is known as EB-5, or the Immigrant Investor Program. Administered by the U.S. Citizenship and Immigration Services agency, EB-5 enables investors from other countries to earn U.S. citizenship for themselves and their immediate family by investing in a business on American soil th...
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