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South African Shaun Minnie, who emigrated to the United States on the EB-5 Program with his family, chats about the pros and cons, highs and lows.
Do your homework
Sean and his family decided on the USA and the EB-5 Program based on the fact that a green card is basically guaranteed if one follows the EB-5 route. He put in lots of groundwork by doing his own due diligence regarding companies that could help them emigrate, as well as developments in which to invest. He also hired an attorney to look at investment projects in the USA on his behalf. They finally decided to use 12 Star Capital’s services, and he has huge praise for the way the team guided them through the vast amount of required documentation that’s part of the process, as well as their assistance in other important matters.
‘The business environment is very different from what I was used to in South Africa. It took 18 months to establish our lives and business. Therefore, be patient. No amount of preparation will prepare you fully, as everyone’s situation is different.’
He also cautions prospective investors to be careful in deciding where they want to live: ‘Rates and taxes, and house prices are aligned to the zip codes and quality of education where you live. Do your research in advance and select the right area.’
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Plan ahead
According to Sean, it’s important to get as many as possible of the basic things in place before leaving for your new life abroad. Doing things like obtaining a social security number and driver’s licence, and meeting professionals such as your new bank manager and other contacts in advance, will make the transitioning period much easier.
‘For me, the most challenging part of the process, and one that should probably be looked at quite early on, is medical insurance. I find medical coverage in the USA very expensive compared to South Africa and not so easy to get.’
He advises prospective investors to spend some time in understanding medical insurance before moving to the USA, as it does take a few months to sort out.
Bottom line
According to Sean, emigration is an ‘awesome undertaking in all aspects,’ and he is really pleased he made the move – and pleased he made it with 12 Star Capital. But it is quite complex, so, if you’re even thinking about moving to the USA, start planning as if you have already made up your mind.
