Contemplating EB5 route - have a few questions...
Quick background; I'm a British expat living in S.E. Asia, been out here for 20+ years. Married with two young children. Recently sold my business and looking for a better quality of life, not happy with the local international schools and wife not happy at all about the boarding school option. May work again, may not, currently I consider myself to be in early retirement. We're considering warmer parts of the U.S., drawn to Florida at the moment, in particular the Ft. Lauderdale and Naples areas as it's a similar climate to where we are now. Have visited before, will be going again in July for a holiday as well as to take a closer look at certain aspects of life out there. Nothing set in stone, simply considering it at the moment.
I've read through some of the previous threads about the EB5 visa and I'm not so interested in bothering people about the mechanics of the actual process itself, rather I'm more interested in a few more general questions. One poster made a comment on these forums that was of interest, the subject being discussed was whether or not an EB5 investor should consider becoming naturalised or not. Another poster mentioned that he was of the belief that there were good tax related (preservation of wealth) reasons not to do this. Can anyone shed any light on this? What wealth preservation methods did you enact before starting the process? Trusts? Where they U.S. based or foreign? Offshore Companies in accepted jurisdictions? Did you use tax accountants/lawyers in the U.K. or the U.S. to structure your financial arrangements before you left? |
Re: Contemplating EB5 route - have a few questions...
Originally Posted by Ramble on
(Post 10584858)
One poster made a comment on these forums that was of interest, the subject being discussed was whether or not an EB5 investor should consider becoming naturalised or not. Another poster mentioned that he was of the belief that there were good tax related (preservation of wealth) reasons not to do this. Can anyone shed any light on this? What wealth preservation methods did you enact before starting the process? Trusts? Where they U.S. based or foreign? Offshore Companies in accepted jurisdictions? Did you use tax accountants/lawyers in the U.K. or the U.S. to structure your financial arrangements before you left? Anyway, off shore ownership is a hassle if you're residing in the US as you've got to declare all that guff, regardless of being a LPR/USC or not. Biggest issue is often medical insurance, especially for those getting towards retirement and are not working. Half a mill is a lot of change to piss away for a bit of sun. Have you considered South America? Paraguay, Uruguay, places like that for the life style you might want would be a cheaper buy in. |
Re: Contemplating EB5 route - have a few questions...
I have a Canadian friend who is still a LPR decades after moving here. His reason was inheritance tax. Apparently more generous in Canada.
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Re: Contemplating EB5 route - have a few questions...
Originally Posted by Bob
(Post 10584964)
These aren't really visa related questions and you'll find plenty of threads with some answers in the main US forums.
Originally Posted by Bob
(Post 10584964)
Anyway, off shore ownership is a hassle if you're residing in the US as you've got to declare all that guff, regardless of being a LPR/USC or not.
Originally Posted by Bob
(Post 10584964)
Biggest issue is often medical insurance, especially for those getting towards retirement and are not working.
Originally Posted by Bob
(Post 10584964)
Half a mill is a lot of change to piss away for a bit of sun. Have you considered South America? Paraguay, Uruguay, places like that for the life style you might want would be a cheaper buy in.
No, South America doesn't really appeal to me. I've only looked at (primarily) english speaking countries so far. Did have a look at Spain though. |
Re: Contemplating EB5 route - have a few questions...
Originally Posted by Boiler
(Post 10585041)
I have a Canadian friend who is still a LPR decades after moving here. His reason was inheritance tax. Apparently more generous in Canada.
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Re: Contemplating EB5 route - have a few questions...
Originally Posted by Ramble on
(Post 10585069)
No, South America doesn't really appeal to me. I've only looked at (primarily) english speaking countries so far. Did have a look at Spain though.
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Re: Contemplating EB5 route - have a few questions...
Certainly Spanish in Florida.
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Re: Contemplating EB5 route - have a few questions...
Indeed, there is quite a sizeable minority who do speak Spanish in South Florida, but it's not a requirement and certainly not necessary to speak it. For us it's more a case of "integration". I've read numerous comments about Brits moving to Spain, not integrating and subsequently not enjoying life quite as much as they had hoped.
To put it bluntly, I really can't be arsed to learn a foreign language at this stage in my life!:D |
Re: Contemplating EB5 route - have a few questions...
American is sort of a foreign language.
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Re: Contemplating EB5 route - have a few questions...
Originally Posted by Boiler
(Post 10586520)
American is sort of a foreign language.
Ian |
Re: Contemplating EB5 route - have a few questions...
Penny: Sing "Soft Kitty" to me.
Sheldon: But you're not sick. Soft Kitty is for when you're sick. Penny: Drugged and in pain is a KIND of sick... Sheldon: Oh, all right... Rene :) |
Re: Contemplating EB5 route - have a few questions...
Originally Posted by Ramble on
(Post 10586491)
Indeed, there is quite a sizeable minority who do speak Spanish in South Florida, but it's not a requirement and certainly not necessary to speak it. For us it's more a case of "integration". I've read numerous comments about Brits moving to Spain, not integrating and subsequently not enjoying life quite as much as they had hoped.
To put it bluntly, I really can't be arsed to learn a foreign language at this stage in my life!:D |
Re: Contemplating EB5 route - have a few questions...
Originally Posted by John_K.
(Post 10587864)
We looked at Spain as well but wanted English and a very developed country with high service levels. We also think that it is a plus for our children to grow up in the US in the current times. We live in Southwest Florida and absolutely love it here. No need for any Spanish here, not now and in MHO not for the foreseeable future either. People here are mostly from the MidWest and they are very friendly and inclusive. This is how we like it but if you want some more action you will have to be on the East Coast.
Are you anywhere Naples? My only concern about that area is the schools, I've read some discouraging reports. I wonder if you have any insight on that? Your first sentence rings very true to me!:) |
Re: Contemplating EB5 route - have a few questions...
Originally Posted by Ramble on
(Post 10587881)
Thanks for posting John, it's interesting to hear what people have to say.
Are you anywhere Naples? My only concern about that area is the schools, I've read some discouraging reports. I wonder if you have any insight on that? Your first sentence rings very true to me!:) |
Re: Contemplating EB5 route - have a few questions...
Originally Posted by Ramble on
(Post 10586491)
For us it's more a case of "integration". I've read numerous comments about Brits moving to Spain, not integrating and subsequently not enjoying life quite as much as they had hoped.
Read more on this site! :eek: |
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