lcr & the eb-5 investment visa | the most desired investment program in the world

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THE EB-5 INVESTMENT VISA THE MOST DESIRED INVESTMENT IMMIGRATION PROGRAM IN THE WORLD WESTPORT MIAMI SÃO PAULO MUMBAI SHANGHAI

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THE EB-5 INVESTMENT VISA

THE MOST DESIRED INVESTMENT IMMIGRATION PROGRAM IN THE WORLD

W E S T P O R T M I A M I S Ã O P A U L O M U M B A I S H A N G H A I

U.S. Residency Through InvestmentThe EB-5 Investor Visa Program provides U.S. green cards and permanent residency to international investors

and their immediate families (children up to age of 21) through a one-time minimum investment of $500,000

USD into a new U.S. business that creates 10 or more American jobs.

EB-5 Program Overview ....................................................................................................................................4

Regional Center Overview | LCR Capital Partners LLC ...................................................................................16

Brand Overview | Dunkin’ Donuts ...................................................................................................................22

Project Overview | American Opportunity Franchise Fund IV, L.P. ................................................................28

3

THE WORLD’S BEST INVESTMENT IMMIGRATION PROGRAM

Country Program Name Minimum Investment

Cyprus Citizenship By Investment $5,500,000

Australia Business Innovation and Investment Visa $4,072,000

United Kingdom Tier 1 Investor Visa $2,500,000

Singapore Global Investor Programme (GIP) $2,000,000

Malta Individual Investment Programme $1,350,000

New Zealand Entrepreneur Work Visa $1,160,000

Portugal Golden Residence Program $589,000

United States EB-5 Immigrant Investor Visa $500,000

St. Kitts & Nevis SIDF $430,000

INCR

EASI

NG

COST

“#1 Best Way For Investors To Immigrate To The U.S.”

– Forbes (July 2014)

The minimum EB-5 investment amount $500,000 has not changed since 1990 and will likely increase to at least $800,000 by September 30th, 2016.

EB-5

Pro

gram

Ove

rvie

w

The fastest, simplest and most reliable way to achieve permanent residency in the United StatesAdministered by the United States Citizenship and Immigration Services

(USCIS), the EB-5 program approves and designates Regional Centers,

such as the LCR Overseas Regional Center, to attract foreign investment

into the U.S.

The EB-5 program has experienced explosive growth starting from a

base of $300 million of EB-5 capital in 2009 to over $6.5 billion in 2015,

primarily due to the program’s rapid adjudication times and high individual

approval rates.

Since the program’s inception in 1990, thousands of immigrants have

received permanent U.S. residency, creating hundreds of thousands of

American jobs, at no cost to the U.S. taxpayer.

5

EB-5 PROCESS & TIMELINE

1By signing Application Letter, LCR will hold one of the remaining slots in our AOFF funds for a specific amount of time [no longer than 3 months].

KEY EB-5 REQUIREMENTS

There are 5 key requirements for immigrant investors to successfully participate in the EB-5 program:

Application Process

Receive Conditional Green Card

Receive Permanent Green Card

1. Sign LCR Application Letter to begin mutual evaluation process as well as reserve a remaining slot in one of our EB-5 projects1

2. Complete Investor Questionnaire

3. Review Confidential Offering Materials

4. Hire U.S. immigration/tax planning specialist

5. Wire EB-5 Investment and Admin Fee into U.S. Escrow Account

6. Complete I-526 Petition, including Source of Funds Analysis

7. Submit I-526 petition to USCIS

8. USCIS review of I-526 petition

Criteria Include: � Does business plan demonstrate likelihood of creating 10+ jobs?

� Was required amount invested in new project?

� Were investment funds lawfully sourced?

9. Approval of Conditional Green Card for investor and immediate family

10. U.S. Consulate interview or Adjustment of Status

11. Visit the United States within 180 days of approval

� Green card holder must visit the U.S. no less than once per year

12. USCIS review of I-829 petition

13. Submit proof that 10+ jobs were created

14. Approval of Permanent Green Card — 99%+ approval rates in FY2015

RETURN OF CAPITAL TO INVESTOR

(No earlier than year 5)

Minimum Capital

Requirement

New U.S. Jobs Requirement

Background Check

Legally Sourced

Investment

”At Risk” Investment

$500,000 investment in a new business or real estate project

� Over 98% of EB-5 investors invest through Regional Centers at $500,000 level

� $1 million option available for EB-5 direct investments

Create or preserve at least ten full-time jobs for American workers

Proof that investor is not a convicted criminal, no history of financial f raud or has no t previously violated U.S. immigration laws

Can clearly document that the funds required to make the investment come from a lawful source

Acceptable options include: � Salary � Gifts of money from family & friends

� Profits made from sale real estate or other assets

� Loan

Investment must be “At Risk” (i.e. fully invested in the project) for a period of no less than 5 years

Per U.S. law, the EB-5 investor cannot be offered any guaranteed return on or of principal nor possess any redemption rights on capital

1 2 3 4 5

7

EB-5 ENJOYS HIGH APPROVAL RATES

I-526 Quarterly Approval Rates

I-829 Quarterly Approval Rates

Q1 2015 Q2 2015 Q3 2015 Q4 2015

93%

88%

92%

85%

100%

Q1 2015 Q2 2015 Q3 2015 Q4 2015

99% 99% 99%2015 average 99%

2015 average 89%

Common Reasons for I-526 Denials:

– Source of Funds – Background Check

Common Reasons for I-829 Denialsl:

– Insufficient Job Creation

EB-5 INVESTOR MARKETPLACE CURRENTLY DOMINATED BY CHINA

China: 8,156

Brazil: 34

Mexico: 77India: 111

UK: 84

South Africa: 30

Total EB-5 visas issued (investor plus dependents) in FY 20151:

South Korea: 116

Vietnam: 280

Russia:88

UAE: 9

Nigeria: 45

1Source: U.S. Department of State - Department of Consular Affairs - Report of the Visa Office 2015

Prior to 2009, foreign investors used only a small fraction of the 10,000 visas allocated annually to the

EB-5 program. In recent years, however, EB-5 demand has increased dramatically. In fact, Chinese

applicants reached their per-country limit in 2014 and again in 2015

Pakistan: 29

Source: USCIS website

Egypt: 36

9

KEY BENEFITS

PRE-COLLEGE DURING COLLEGE & POST COLLEGE

HIGHER UNIVERSITY ACCEPTANCE RATES

Most U.S. universities limit foreign student populations to 20% or less of the student body.

A foreign student, under an EB-5 visa, is treated as a U.S. resident applicant and thus will not be impacted by limitations applied to international students.

LOWER TUITION RATES

As a U.S. green card holder, your children may qualify for reduced “in-state” tuition rates.

� Foreign student tuition rates at top U.S. public universities maybe as much as $200,000 higher than “in state” tuition over a four year period

SCHOLARSHIPS/AWARDS

As a U.S. green card holder, students may qualify for merit-based scholarships and awards reserved only for U.S. residents and citizens

EXPANDED EMPLOYMENT OPPORTUNITIES

Live and work anywhere in the U.S. and pursue full range of professional and business opportunities in the world’s largest economy

Despite not having a U.S. GC, nearly one-quarter (20) of the 87 U.S. start-ups companies valued at over $1 billion had a founder who first came to America as an international student.1

REMOVE UNCERTAINTY FROM YOUR CHILDREN’S EMPLOYMENT POSSIBILITIES

Foreign university students and graduates are subject to a highly competitive lottery system in order to obtain the required H1-B employer-sponsored visa

� In April 2015, the USCIS held lottery for 65K H1-B visas from over 233,000 applications

� H1-B visa holders from India, for example, typically wait 8 to 10 years for a green card

� According to NY Times, nearly 70% of H1-B visas were issued to the top 5 Indian outsourcing firms in 2014

U.S. Residents International

8.8% 2.8%

19.5% 8.8%

5.9% 2.1%

One of the most popular EB-5 investment options is for parents to donate the investment amount as a gift

to their son or daughter and have them become the EB-5 investor.

Given the overwhelming surge in applications from international students, the competition for acceptance

into American universities is fiercer than ever

U.S. GREEN CARD IS VOLUNTARY AND CAN BE RETURNED AT ANY TIME

POTENTIAL BENEFITS WHEN APPLYING TO U.S. COLLEGES

� No Student Quota � Lower Tuition Costs � Access to ScholarshipsSon/Daugther

Submits I-526 as EB-5 Investor

Father/Mother/ Relatives Donate

the $500K to Son/Daughter

Son/Daugther Obtain U.S. Green Card

This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visithttp://www.djreprints.com.

http://www.wsj.com/articles/international-students-stream-into-u-s-colleges-1427248801

Suffyanah Algheithy, 20, a senior at the University of Colorado Boulder, chats with fellow students at aninternational-student gathering last month. PHOTO: NATHAN W. ARMES FOR THE WALL STREET JOURNAL

1 IMMIGRANTS AND BILLION DOLLAR STARTUPS (March 2016); National Foundation for American Policy

KEY BENEFITS

POTENTIAL CAREER BENEFITS � Not subject to annual H1-B visa lottery � No need to find local company sponsor � Difficult job mobility

EB-5 DONATION OF $500K TO SON OR DAUGHTER

11

Hedge Local Currency

Depreciation

Use U.S. dollar-denominated EB-5

investment as depreciation hedge vs. local currency.

Direct Path to U.S. Citizenship

Can apply at the five year anniversary of

receipt of their conditional resident status.

No Expiration Date

The U.S. green card does not expire nor do your children lose when

they turn 21.

Easy to Qualify

No specialized skills required. No travel or age restrictions, and no language skills

requirement.

Residency Safety Valve

Back-up plan in situations of political instability or crisis

OTHER KEY BENEFITS REPRESENTATIVE ECONOMICS FOR EB-5 INVESTOR

1 Admin fee is used to cover upfront expenses such as project underwriting, business plan writers, econometrics jobs report, securities attorney fees, TEA designation and escrow service.2 LCR works with several top EB-5 immigration firms. The fees shown include source of funds analysis and are representative in nature.3 LCR AOFF IV investor receives an annual preferred return on capital of 1.50%.

IMPORTANT NOTE: LCR recommends each prospective investor seek guidance from U.S. tax planning specialist [fees not included above] and is happy to refer you to pre-immigration tax specialists.

Total Investment Costs/Fees

Timeline Application I-526 Approval I-829 Approval Sub-totals

USCISI-526 Filing Fee

($1,500)I-485 Filing Fee

($985)I-829 Filing Fee

($3,750)($6,235)

Immigration Attorney

($15,000) ($5,000) ($10,000) ($30,000)

LCR CapitalAdministration Fee1

($60,000)($60,000)

InvestmentEB-5 Investment

($500,000)$537,500 $37,000

Step Sub-totals

($576,500) ($5,985) $523,750

Total Cost $58,735

Return of Principal $500,000

13

Each year, the U.S. awards around 1 million new green cards to citizens from all over the world. No other

country is close to approaching the sheer number and diversity of immigrants that are welcomed by the

United States.

U.S. GREEN CARD MARKET IS GLOBAL

0 1 2 3 4 5 6 1 0 +

100%

75%

50%

25%

0%

Time to Recieve Green Card (years)

Ease

& C

erta

inty

of O

btai

ning

Gre

en C

ard

Lottery

H1-BL-1

EB-5

Family Sponsor

EMPLOYMENT PREFERENCE CATEGORY

Every year around 140,000 visas are granted on account of sponsorship by U.S. employers

First (40,000) Priority workers, which include persons of extra-ordinary ability in arts, science, education, business and athletics or outstanding professionals and researchers

Second (40,000) Professionals with advanced degrees or exceptional abilities

Third (40,000) Professionals and skilled or unskilled workers

Fourth (10,000) Religious workers and various miscellaneous categories of workers

Fifth (10,000) EB-5 investors

FAMILY PREFERENCE CATEGORY

Every year 226,000 immigrant visas are issued on account of family relationship with U.S. citizens or green card holders.

First (23,400) Unmarried people of any age, who have at least one U.S. citizen parent

Second (114,200) (A) Spouses of unmarried children of green card holders under the age of 21 years (B) Unmarried sons and daughters above 21 years of green card holders

Third (23,400) Married people of any age, who has at least one U.S. citizen parent

Fourth (65,000) Sisters and brothers of U.S. citizens, where the citizen is over 21 years old

Top Places of Origin1

U.S. GREEN CARD ALTERNATIVES

Class of Admission Sixty-six percent of new green cards were granted

based on a family relationship with a U.S. citizen or

lawful permanent resident, however the average

waiting time for such visas can be as much as 10

years, depending on individual circumstances.Family-Sponsored,

210,303

Immediate Relatives of

U.S. Citizens, 439,460

Employment-Based: 151,110

Diversity, 45,618

Refugees and Asylees,

119,630

Other, 14,432

The EB-5 investment visa compares favorably to all

other U.S. green card alternatives

GREEN CARD LOTTERY: Green Card Lottery: Each year, 55,000 immigrant visas are granted through an annual lottery.

CHINA

71,798 7.2%INDIA

68,458 6.9%

PHILIPPINES 54,446

5.5%

VIETNAM 27,101

2.7%

SOUTH KOREA

23,166 2.3%

1 Source: DHS Office of Immigration Statistics; # of Green Cards Issued in 2013 / Growth Rate (’12-’13)

MEXICO

135,128 -7.7%

BRAZIL 11.033

-6.2%

EGYPT 10,924

21.5%

INDONESIA 2,713

4.2%

IRAN 12,863

1.3%

PAKISTAN 13,251

1.3%

EB-5, 10,000

15

Reg

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An emerging leader in the EB-5 industryFounded in 2012 by first-generation U.S. immigrants who met at Harvard

Business School in the mid 1990’s, LCR Capital Partners is a partner-

owned investment firm that deploys EB-5 investments as growth capital in

the well established U.S. franchise industry, primarily in the quick service

restaurant (QSR) sector.

Strong QSR franchise brands are ideally suited for our EB-5 investors as

they have long, proven histories of operating success and are one of the

most efficient.

As a firm with many first generation immigrants, LCR has taken a client-

centered approach to how it designed its EB-5 franchise finance funds

to meet the needs and mitigate the risks of our investors, an approach

markedly different than many others in the EB-5 space.

FIRM OVERVIEW

LCR has transformed a government immigration program into a standardized,

transparent financial product that maximizes job creation, mitigates risk and

protects investors’ principal.

LCR’s primary client base comes from high net worth investors from Latin

America, China, India and the Middle East.

LCR is headquartered in Westport, CT, has offices in Miami, FL, São Paulo,

Brazil, and Mumbai, India. The firm will be establishing operations in Shanghai

and in the Middle East by the end of 2016.

“LCR Capital Partners…could be a game changer in the franchise finance world.”

– Franchise Times (September 2014)

17

SENIOR MANAGEMENT TEAM

LCR’s senior management team met at Harvard Business School in the mid 1990’s and since then has

built and established distinguished track records while serving at many of the world’s premier organizations

including: McKinsey & Co., Goldman Sachs, UBS, Credit Suisse, BlackRock, EMP Global, Wasserstein Perella,

Nomura, INVESCO, Fox Point Capital, the U.S. Congress, and other leading global institutions.

Background

Suresh Rajan CEO

� Dunkin’ Donut Multi-Unit Operator � Consultant at McKinsey & Company � U.S. Congressional Aide � Harvard MBA 1997

Rogelio Caceres Co-Founder & CMO

� Founding Exec and Head of Sales for start-up Professional Services firms � Latin America Private Equity at EMP Global � Investment Banking at Wasserstein Perella � Harvard MBA 1997

Joseph Haggenmiller COO

� Quantitative Hedge Fund Manager � Equity Derivative Structuring at Credit Suisse and UBS � Investment Banking at RBC Dain Rauscher � Harvard MBA 1997

Scott Schweitzer CFO

� Head Trader / Chief Operating Officer at Fox Point Capital � Prime Brokerage at Deutsche Bank � United States Air Force � Harvard MBA 2005

Marc Sharpe Managing Director

� Chairman of The Houston Family Office Association � Investment Management at Goldman Sachs & Co. � Investment Banking at Wasserstein Perella & Co. � Harvard MBA 1998

Carlos Higuchi Managing Director

� Alternative Investments at Invesco � Debt Capital Markets at Nomura � BA Economics at UCLA

Carlos Hawker Chief Development Officer, Latin America

� Commercial Banking at HSBC Brazil � Investment Management at BlackRock Latin America � Fordham LLM 2008

DEEP EXPERTISE IN FRANCHISE OPERATIONS AND LENDING

LCR combines expertise in lending, franchise strategy, and franchise operations – and applies its expertise

to benefit EB-5 investors.

$300 million Amount of Capital Loaned

35 Franchise Brands Funded

>3,000 Franchise Store Locations (Originated & Funded)

<2% Default Rate

Created over 75,000 Jobs

*Mount Pleasant Capital, owned and operated by Bob Rodi, serves as LCR’s exclusive strategic partner in all of its franchise finance activities.

Operations and development

Strategy Lending and credit risk analysis

Suresh Rajan CEO

Lynette McKee Chief Development Officer

Bob Rodi Exclusive LCR Strategic Partner

LCR’s Exclusive Strategic Partner Track Record*

Experienced owner/operator of Dunkin’ Donuts stores across

the U.S.

Former Vice President of Franchising for Dunkin’ Donuts and Burger King

Owner of Mount Pleasant Capital, a premier underwriter of franchise loans to over 3,000 restaurant stores over

the last 30 years

19

EXPERIENCED REGIONAL CENTER: LCR’S EB-5 TRACK RECORD

LCR currently operates two Regional Centers:

#1. LCR Overseas Regional Center (NY, NJ, CT and PA) was approved in May 2014

#2. LCR Atlantic Gulf Regional Center (Florida and Georgia) was approved in December 2015

LCR successfully closed its first EB-5 project, the American Opportunity Franchise Fund I, LP, in September 2015.

LCR EB-5 PROJECTS SIZE TERRITORYPREFERRED

RETURNSTATUS

American Opportunity Franchise Fund IV, LP Up to $49 Million TX, AL, LA, MS 1.50%Marketed in

Rest of World

American Opportunity Franchise Fund III, LP Up to $49 Million GA, TN, NC, SC 0.25%Marketed in China

(primarily)American Opportunity Franchise Fund II, LP Up to $49 Million FL 0.25%

American Opportunity Franchise Fund I, LP $12 Million NY, CT, PA & NJ 0.25% CLOSED

REGION STORES1 PENETRATION

Core 4,049 1:8,900

Established 2,675 1:20,100

Emerging 1,196 1:74,200

West

320 1:406,000

TOTAL 8,240 1:37,500

FUND I

FUND III

FUND II

FUND IV

100% FOCUS ON OUR INVESTORS’ NEEDS

LCR Capital Partners works closely with investors throughout the entire immigration and

investment process, providing consistent reporting and ongoing updates about the progress

of the project and the status of their investment.

Investor PortalEach investor will have proprietary access to a confidential investor portal, provided by NES Financial, to track LCR’s progress regarding job creation and capital deployment.

Independent OversightLCR’s EB-5 investors’ capital enjoys multiple layers of oversight including, Primary Capital – a U.S. SEC-licensed broker-dealer, reviews documentation and the offering process to ensure compliance with U.S. securities laws

NewslettersQuarterly newsletters that detail current project updates and announcements, important industry news, LCR’s charitable efforts in our investors’ home countries and LCR travel and speaking engagements

Site ToursBi-annual due diligence visits are conducted by LCR Capital on project sites across the country, allowing us to monitor the progress of construction and operations of each project.

21

LCR CLIENTS: FEEDBACK & PROFILES

LCR’s EB-5 investors and their families include accomplished financial executives, doctors, successful

business executives and entrepreneurs, and U.S. college students. They range in age from 1 to 56 years old.

LCR’s focus on transparency and investor protection has yielded positive feedback from our EB-5 investors

from all over the globe:

“Like everything in life, the project has a risk, but it seems to be a very small risk, and it is done by competent people.”

“Other visas don’t have the same flexibility. If my children keep their student visas, after they graduate, they will need to get a work visa or find a company to sponsor them.”

“It is not in my interest to manage a new business and I don’t have the experience. That is why I did not choose the direct EB-5.”

Fmr. Senior Executive at UBS

Sponsoring: Himself, wife and 2 sons Destination: Washington DC

Fmr. Managing Director at Merrill Lynch

Sponsoring: Herself, husband and 2 children (E-2 Visa expiring) Destination: Boston, MA

Teacher

Sponsoring: Herself and her son Destination: New York City, NY

Agriculture & Farm Owner

Sponsoring: Himself and his wife Destination: Miami, FL

“I chose LCR for the EB-5 program for 2 reasons: the design of their project, which looks very good, and a presence here in Brazil, which makes our contact much closer.”

Client Services Director

Sponsoring: Herself and her husband Destination: Boston, MA

Student

Sponsoring: Investment donated by parents Destination: Carnegie-Mellon in Pittsburgh, PA

23

Bra

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LCR Capital Partners is pleased to select Dunkin’ DonutsGiven our intimate familiarity and experience with the Dunkin’ brand, as

operators, lenders and senior company executives, LCR is pleased to help

fuel it’s expansion across the United States. As the 7th largest U.S. restaurant

chain and one of the fastest growing, Dunkin’ has attractive new store

development opportunities across most of the country, as the majority of

Dunkin’ stores are currently concentrated in the Northeastern United States.

1GE Capital Franchise Finance | 2015 Chain Restaurant Industry Review22015 DNKN 10-K Report3Performance through September 30th, 20154Dunkin’ Donuts Franchise Disclosure Document 2015Source: Dunkin’ Brands 2015 Investor & Analyst Day; October 1st, 2015

60 Years of Brand Heritage and

Track Record

SIGNIFICANT U.S. & GLOBAL GROWTH

OPPORTUNITY

$7.2 billion System-Wide

Revenue1

Over 11,000 restaurants in 42 countries around

the world2

$811 million Revenues

(FY 2015)

Publicly-traded company

(NASDAQ: DNKN)

$4.2 billion Market Capitalization

(3/28/16)

47 Consecutive Quarters

of Comparable Store Sales Growth3

Dunkin’ Donuts is a unique brand in the U.S. QSR space

PROVEN, GROWTH-FOCUSED BRAND

1.3% Store Closure Rate4

25

As a nearly 100% franchised business, Dunkin’ relies on its experienced operators/franchisees for new

store development. Compelling unit store economics drive accelerated growth.

COMPELLING STORE ECONOMICS

Average Construction Cost $865,000

Average Unit Volumes $890,000

Source: Dunkin’ Brands 2015 Investor & Analyst Day; October 1st, 2015

TOP 10 U.S. RESTAURANT CHAINS [BY REVENUES] IN 20151

Rank Chain SegmentSystemwide

Sales (in $ MM)

% ChangeSales per Unit

(in $ MM)Total U.S. Units

Change in Units

1 McDonald’s Sandwich S35,447 -1.1% $2,500 14,350 72

2 Subway Sandwich $12,057 -1.7% $448 26,988 523

3 Starbucks Snack $10,476 9.20% $1,400 7,3032 254

4 Burger King Sandwich $8,603 1.20% $1,256 7,095 -60

5 Wendy’s Sandwich $8,501 5.00% $1,488 5,745 -46

6 Taco Bell Sandwich $8,133 4.40% $1,441 5,526 150

7 Dunkin’ Donuts Snack $7,175 6.40% $888 8,082 405

8 Pizza Hut Pizza $5,585 -1.1% $843 6,356 57

9 Chick-fil-A Chicken $5,477 8.40% $3,406 1,850 75

10 Applebee’s Casual $4,592 1.60% $2,465 1,870 -34

DUNKIN’ IS THE 7th LARGEST RESTAURANT CHAIN IN THE U.S.

1GE Capital Franchise Finance | 2015 Chain Restaurant Industry Review2Source: Statista – Starbucks operates 7,303 company-owned stores and 4,659 licensed stores.

Dunkin’ Donuts built more net new stores in 2015 (405) than any other major franchise restaurant

company except Subway

Average Operating Earnings (Year 1) ~ $145,000

Store Valuation Multiple (Cap Rate) ~ 17.3x

Average Dunkin’ Store Valuation ~ $2,500,000

27

DUNKIN’ DONUTS IS THE #2 U.S. COFFEE CHAIN

1Source: Dunkin’ Brands Q2 2015 Investor Presentation2Source: GE Capital Franchise Finance

In 2015, there were 8,082 Dunkin Donuts stores

operating in the U.S. versus 11,962 Starbucks stores.1

According to the 2015 Chain Restaurant Industry

Review, Starbucks and Dunkin’ control 90% of the

U.S. snack market.2

50.1%39.5%

10.4%

All Others

DUNKIN’ ENJOYS LOW STORE CLOSURE RATESAccording to their latest Franchise Disclosure Document, the 2015 Dunkin’ store closure rate across all

types of operators/franchisees equaled 1.3%

Dunkin’s store closure rates compare favorably to the loan delinquency rates of retail real estate properties

across at the United States2

Several of the key root causes for QSR store closures include:

1According to the NPD Group/CREST® (“CREST®”)2Moody’s Delinquency Tracker and DD FDD documents (2012 to 2015)Source: DNKN 2015 10-K report

7.2% 7.4%

6.2% 6.0%6.3%

1.5%1.9%

1.3% 1.3% 1.2%

Retail RE Delinquency Rate DD Store Closure Rate

2011 2012 2013 2014 2015

Product Risk Site Selection Risk Operator Risk

Coffee � In 2015, there was 8 billion restau-rant servings of coffee1

� Represents over 80% of DNKN’s revenues

Substitute Products � Coffee consumption is inelastic and one of the last daily expenditures to be cut in a recession

Strict & Proven Criteria DNKN has a defined, set of specific new site criteria based on 60+ of operating history

DNKN requires each new site location to be approved by its Chief Development Officer

DNKN requires the new site selection to match the new store’s build out costs and unit sore economics

Single/Small Unit Operators � LCR does not lend to these type of operators

Multi-Unit Operators Only � Awarded the best new territories and premier development rights

� Operator risk mitigated by: – Deep management bench strength

– Strong network cash flow

– Real-time loan monitoring: Early warning detection systems tied to real-time store data

29

TRACK RECORD OF GROWTH IN NEW STORES ACROSS THE U.S.

According to an S&P Capital IQ report (3/19/16), DNKN will increase the number of distribution points in the

U.S. by about between 435 and 470 net new units in 2016 and “believe DNKN has significant growth

opportunities through more store openings of Dunkin’ Donuts in the western part of the U.S.”

DUNKIN’ DONUTS U.S. NET DEVELOPMENT

2009 2010 2011 2012 2013 2014 2015E

171206

243291

371405

410-440

3.10% 3.60% 4.10% 5.10% 5.30%

31

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LCR’s American Opportunity Franchise Fund IV, L.P. LCR’s fourth EB-5 project, AOFF IV, provides experienced multi-unit

operators with senior-secured loans to partially finance the construction

of up to 72 new Dunkin’ restaurants across the states of Texas, Alabama,

Louisiana, and Mississippi. Each of our borrowers endures a rigorous,

underwriting process before being selected. LCR typically requires each

borrower to contribute on average 25% of new store development cost

with their personal equity. LCR will also invest in construction of Dunkin’

buildings to be leased to same Dunkin’ operators.

Up to 98 EB-5 INVESTORS

~Up to 72 DUNKIN’ DONUTS STORES

Up to $49 MILLION IN EB-5 CAPITAL

2,432 JOBS

24.8 JOBS / INVESTOR

AOFF IV INVESTMENT STRUCTURE

EB-5 INVESTORS

LCR Overseas Regional Center LLC

LCR AOFF IV, L.P.

$60K ADMIN FEE $500K

LCR Franchise Finance LLC

Loans to partially finance

development of new stores

Land purchases to

generate rental income

INVESTORS ARE REPAID THEIR ORIGINAL INVESTMENT*

after a 5 year period

$500,000

Return of Principal

$37,500

Preferred Return on Capital

LCR’s investment platform allows our investors to participate across multiple job creating stores rather than

rely on a single EB-5 project.

UP TO 72 DUNKIN' STORES

Year 0

Years

0 to 2

Year 5

*EB-5 regulations expressly prohibit the guaranteed return of the EB-5 investors’ principal investment amount. 33

STRONG JOB CREATION IN THE EB-5 INDUSTRY

JOB-CREATION POWER OF U.S. FRANCHISES

� QSR franchises are one of the highest job-creating industries in the U.S. � The franchise industry accounts for 17.4 million (or 1-in-8) U.S. jobs, and 10% of new U.S. job creation.1

� The QSR segment of the U.S. restaurant industry accounted for approximately $269 billion of the total $431 billion restaurant industry sales in the U.S. for the twelve months ended Dec. 31st, 2015.2

ECONOMIC STUDY

� Former Chief Economist at USCIS, Kim Atteberry, wrote LCR’S AOFF IV econometric jobs study

Jobs Required by USCIS Jobs Created by AOFF IV

248% Cushion

980

2,430

1ADP National Franchise Report 2DNKN 2015 10-K - The NPD Group/CREST

FOCUS ON PRINCIPAL PROTECTION AND RETURN

Diversified Portfolio

� LCR will make multiple loans to experienced multi-unit Dunkin’ operators to build new stores across large territory

� In the (unlikely) event of default of one or more loans, the portfolio structure of AOFF IV’s senior collateralized loans provides superior protection to an EB-5 investor’s principal

� In 2015, Dunkin’ had a new store development success rate of 98.7%

Senior Secured vs. Mezzanine

� LCR will only make senior-secured loans to the best Dunkin’ operators. This segment of operators typically have a net worth > $15 MM

� Traditional EB-5 real estate projects are mezzanine/subordinated loans in one asset, where default on loan may lead to zero recovery

� Dunkin’ Loan Recovery Rate is estimated to be around 80%

Land/Building Ownership

� AOFF IV may purchase land under its new store locations and thus add portfolio revenue through rental income and land sales at end of holding period

� Traditional EB-5 real estate projects typically have investment risk concentrated in one asset

Defined Exit Strategy

� AOFF IV has multiple exit strategies for its investors including loan maturity, sale of the loan portfolio and/or sale of business

� With a projected $70 million in revenue and principal return over 5 years, available cash projected for AOFF IV is expected to be more than enough to cover the $49 million in investor funds

35

AOFF IV’S PRINCIPAL PROTECTION VIA PORTFOLIO DIVERSIFICATIONDue to AOFF IV’s mutual fund structure, the risk of lack of repayment of principal is diversified across up to

72 senior-secured, 5 year new Dunkin’ store development loans.

AOFF IV repayment risk is also spread across multiple stores, operators and geographies.

AOFF IV EB-5 Investors

$500K

LCR AOFF IV, L.P. UP TO $49 MM

INVESTORS ARE REPAID THEIR ORIGINAL INVESTMENT

after a 5 year period

Up to 72 new Dunkin’ stores built across Texas and three other states

Average Construction Cost

Per Store $865K

LCR Franchise Finance LLC

Dunkin’ Multi-Unit Operators

Senior, 5 Year Loans

$650K

Franchisee Equity $215K

LCR AOFF IV, L.P.

Year 0

Years

0 to 2

Year 5

LCR’S EB-5 PROJECTS ARE SUPERIOR TO TRADITIONAL EB-5 PROJECTS

CRITERIA LCR STANDARD EB-5

Strong Job Creation 24.8 jobs per investor 12-13 jobs per investor

Investment Structure Diversified Portfolio of Loans All investors in single project

Place in Capital StructureSenior-Secured / Cross-Collateralized

Often Subordinated-Unsecured Debt

Proven Exit StrategyLoan Maturity/Sale of Business/ Sale of Portfolio

Unclear/Uncertain

Top Quality Brand Global, proven QSR brands onlyBrands/projects with no other source of capital

Minimum # of Investors None Need all investors to start

U.S. SEC-registered Broker Dealer To ensure our investor’s protectionLess than 10% of Regional Centers use Broker/Dealers

EB-5 Holding Period 5 years 6-10 years

5 Year Annual Dunkin’ Store Closure Rate = 1.44%

Historical Dunkin’ Loan Recovery Rate = 80%

37

INVESTMENT PHASE

1-2 months

CAPITAL DEPLOYMENT

PHASE

Years 1-3

CAPITAL RETURN PHASE

Year 5

LIFECYCLE OF AN LCR EB-5 INVESTMENT

Client’s immigration attorney reviews LCR confidential

investor documents

Client makes EB-5 investment

$500,000 Held in escrow account

at PNC Bank

($500,000) Deployed as senior-secured loans to partially finance construction of new Dunkin’ stores

$500,000 Repayment: 5 year

loans are repaid by Dunkin Donuts

franchisees

$37,500 Preferred Return:

Investor receives a 1.5% per year preferred return

Upon I-829 approval, LCR wires money back to the U.S. bank of the

investor’s choosing

LCR investor has access to customized portal and has full visibility to how capital is being deployed (# of new stores, job creation etc.)

I-8291.5%

Week 1 Weeks 2-3 Weeks 3-4 Week 5 Week 6

Investor

LCR

Immigration Attorney

SUGGESTED I-526 APPLICATION PLAN

Signs Application

Letter

Engages immigration

attorney

Reviews Welcome

Pack*

Sends Investor Questionnaire, W-8BEN and Copy of the Passport for

LCR

Sends signed Signature

Booklet to LCR

Wires Admin Fee ($60K) into AOFF |V U.S. Escrow

Account

Translation of all required documents

into English

Sends full set of translated docs to immigration firm

Wires EB-5 investment ($500K) into AOFF |V U.S. Escrow Account

Conducts final review

LCR sends Welcome

Pack*

Schedule call with experienced immigration firm

Conducts final review

Begins preparation of I-526

Finalizes source of funds

documents

I-526 Submit

Application

*Welcome pack includes: � Investor Questionnaire � I-526 Document Checklist � Signature Booklet 39

LETTER OF REGIONAL CENTER DESIGNATION

Date: May 16, 2014 Suresh Rajan LCR Overseas Regional Center, LLC One Stamford Plaza, Regus Worldwide, 263 Tresser Blvd., 9th Floor Stamford, CT 06901 Application: Form I-924, Application for Regional Center under the Immigrant

Investor Pilot Program Applicant(s): LCR Overseas Regional Center, LLC Re: Initial Regional Center Designation

LCR Overseas Regional Center, LLC RCW1402951663 / ID1402951663

This notice is in reference to the Form I-924, Application for Regional Center under the Immigrant Investor Pilot Program that was filed by the applicant with the U.S. Citizenship and Immigration Services (“USCIS”) on January 29, 2014. The Form I-924 application was filed to request approval of initial regional center designation under the Immigrant Investor Program. The Immigrant Investor Program was established under § 610 of the Department of Commerce, Justice and State, the Judiciary, and Related Agencies Appropriations Act of 1993 (Pub. L. 102-395, Oct. 6, 1992, 106 Stat. 1874). I. Executive Summary of Adjudication

Effective the date of this notice, USCIS approves the Form I-924 request to designate LCR Overseas Regional Center, LLC as a qualifying participant in the Immigrant Investor Program. II. Regional Center Designation USCIS approves the applicant’s request to focus, promote economic growth, and offer capital investment opportunities in the following geographic area and industry categories:

U.S. Citizenship and Immigration Services Immigrant Investor Program Mailstop 2235 Washington, DC 20529

LETTER OF SUPPORT FOR LCR

41

MESSAGE FROM LCR’S CEO

February 2016

Dear Investor,

As a firm founded by first generation U.S. immigrants, LCR takes its mission very seriously: to serve as a

trusted and reliable partner to our EB-5 investors as they successfully navigate a transition towards U.S.

residency.

By transforming a government immigration program into a standardized financial product that maximizes job

creation, mitigates risk and protects investors’ principal, our firm’s EB-5 franchise finance funds continue to

be rewarded by strong international investor demand, both from our original investor markets such as Brazil

and China as well as emerging EB-5 markets like India and the Middle East.

We would like to thank our investors for their continued support and confidence in our abilities, our Board

for their leadership, and our employees for their collaboration and deep commitment to our rapidly emerging

firm.

Sincerely,

Suresh Rajan

CEO

43

LCR Capital Partners, LLC315 Post Road West | Suite 200 | Westport, CT | 06880

+1 203.883.1940 | [email protected]

www.lcrEB5capital.com

This material does not constitute investment advice, an offer or commitment to sell securities, a solicitation of any offer to purchase securities, or any advice or recommendation to enter into or conclude any EB-5 sponsored transaction. You should consult your legal counsel, accountants, and/or tax

advisors prior to making any decision or taking any action concerning the information provided in this document.