There are many reasons to own a business in Miami, and plenty of profitable investment opportunities, including restaurants, hotels, and real estate development.  One good reason to invest is a so-called “investment visa EB-5” that offers a foreign investor (and their immediate family) a U.S. passport.

 

Conveniently, Florida offers a number of tax advantages to businesses of all sizes.  Florida's state corporate tax rate is only 5.5%, one of the lowest in the nation.  Plus, the absence of any local or state personal income taxes lowers overall employment costs.

 

Starting a new business vs. buying an established business

 

How-to-KeepAs a general rule, buying an established business is often the preferred investment option due to the company’s existing reputation, market share and customer base.  Finding such a company, however, is not an easy task.  It usually begins with hiring experienced brokers who will (a) find the right opportunity for you; and (b) perform due diligence (detailed analysis of the company’s legal and financial state over the last 3-5 years).  This independent analysis allows you to evaluate the company’s profitability and fair market value. 

 

Starting your own business is far more risky and time consuming.  First, you will have to carry out research to learn if there is a market for the goods or services you are offering and about your competition.  Next, you will need to set up the business infrastructure by creating a legal entity, finding the right type of property, hiring staff and launching the operation.  Fortunately, today’s Florida real estate lease and purchase prices are far more reasonable than in other parts of the country, and the location choice is plentiful, which assures you of success if you have a unique business concept.

 

Franchises are a popular option

 

FotoliaFranchising is the business practice of using another firm's successful business model. There are mid-sized franchises like restaurants, gasoline stations and car dealerships, and there are also large franchises like hotels, spas and hospitals.  In fact, more than 40% of retail purchases in the U.S. are made at franchise outlets.

 

Importantly, franchising is an especially interesting alternative for foreign investors who want to start a business.  First, over three times as many franchises as other new businesses are still in business within five years of opening, which is a serious consideration for those relocating on an EB-5 visa.  Second, to assure your success, the company will build out the real estate you have located, train your staff and implement customer and administrative procedures as part of the franchise price. 

 

Real estate portfolio

 

Property-BuyersInvestment into Florida real estate, and property management, is becoming increasingly popular with foreign investors relocating to Florida.  Some people invest into undervalued or distressed properties, including foreclosures by the banks, then repair the properties and either re-sell them or rent them out.  Others buy several apartments near the ocean, rent them and manage the properties.  In any case, investment into real estate can undoubtedly be a profitable business.

 

 

 

Last, but not least…

 

Accountant ServiceTo set up a profitable business in Miami, you will need a number of experts in the field, including lawyers, accountants, business brokers and real estate agents to guide you through the process.  Conveniently, Miami Life, Inc. works closely with the top immigration, corporate and tax lawyers, as well as real estate brokers, to assure that all of your business needs are satisfied. As consultants, we coordinate all of the activities for your convenience.  We are a one-stop shop to your destination.