world sea yachting

WorldSea Yachting

Executive Summary

WorldSea Yachting BVBA (WSY) is an innovative new venture designed to create a luxury seafaring experience for customers in the high end leisure market.

WSY’s mission is to create an “exclusive and convivial club” of people who, through the WSY club, meet people from all over the world who have the same passion for life and adventure and with whom they will enjoy spending their yachting vacations.  WSY will expand over the course of 15 years to offer about 100 high end cruising yachts, which will be at the disposal of the anticipated 6,500 WSY members.  The company will maintain a fleet of vessels that are exceptionally spacious, as environmentally friendly as possible, and of the highest overall quality.  WSY crews will be dedicated to providing luxury-level customer service to club members on “tailor made” worldwide trips.

WSY’s yachts will be equipped and staffed to provide a first class private or semi-private cruising experience.  WSY will be based out of Dania Beach, Florida in the Miami-Fort Lauderdale-Pompano Beach Metropolitan Area where they plan to partner with the Broward Superyachts for use of facilities to build their fleet of new motorized yachts using the best available green technologies.  Therefore the company will have two main roles, as a cruise provider and as a shipbuilder.

WorldSea Yachting

The company’s objectives will be achieved through a club membership organizational structure, which offers significant benefits to both WSY and members.  Members will pay a single fee for a period of 10 years of access to the ships and pay the rental rate for their usage periods.  The total amount of the single fee and the rent for the first year will be together about the same amount of the standard charter rent of a similar yacht. From the second year on, the charter cost will be suitably less than the usual charter rent of a similar yacht.  For the company, membership fees will provide a steady revenue source and encourage higher occupancy rates for the on-board suites as members will have already made a financial commitment to the cruising lifestyle.  For the members, they have access to yachting vacations without having to commit to yacht ownership.  Additionally, they will have access to different boats according to their needs on a trip-by-trip basis.  Unlike a timeshare, members will not be committed to a particular week with their reservation, which is flexible and may be changed on short notice as long as there is the needed vacancy.

WSY intends to participate in the U.S. Citizenship and Immigration Service’s (USCIS) EB-5 Immigrant Investor VISA program with a “direct EB-5” offering through its new company WorldSea Challenger LLC.

WorldSea YachtingIn order to successfully use the program in this way, a new U.S. company must offer an ownership interest to potential immigrant investors who will, if eligible, make a $1.0 million investment (or $0.5 million investment if the company will operate in a designated rural area or Targeted Employment Area) into the EB-5 company, thus putting their capital “at risk”. The EB-5 company is then required to create 10 permanent, full-time jobs, which must be verified with the USCIS through tax records, per immigrant investor.

EB-5 Investor Role

Under EB-5 regulations, the EB-5 immigrant investor is expected to participate in the management of the new enterprise by assisting in the formulation of the enterprise’s business policy, by participating in one or more of the activities permitted in the Florida Limited Liability Company Act, and as otherwise set forth in the Operating Agreement. Investors in an EB-5 enterprise must have all the rights and duties usually accorded to members applicable under the Florida Limited Liability Company Act.  The rights of the limited partners under the Operating Agreement are consistent with rights normally granted to limited partners under the Act.

Benefits of your EB-5 Investment

If the EB-5 project is approved, this would allow the project developers to raise $6.0 million of the $25.0 million in funding necessary to construct the yacht, the Challenger, and would make possible the opportunity to invest in this project to potential immigrant investors.   Such investors would be expected to receive the following benefits as EB-5 immigrant investors in the WorldSea Challenger EB-5 project:

  • Ownership interest in a unique company using an innovative club membership model to capitalize on the healthy and growing leisure market,
  • Projected positive, competitive returns on their investment,
  • Living and working anywhere in the U.S.,
  • No employment authorization requirement to accept employment,
  • Ability to develop and run a business,
  • Ability to sponsor green cards for a spouse and minor children,
  • Ability to travel outside of the United States and return to the United States without a visa,
  • Education benefits of permanent residents such as admission to state universities at resident costs, and
  • Become a U.S. citizen once the investor has been a permanent resident for more than five years.

Conclusion

WorldSea YachtingThe WorldSea Challenger EB-5 project will be implemented by a skilled team of professional who are well-versed in the yachting and luxury travel industry.  The WSY membership-based model is a unique way for people interesting in cruising, adventure, and high-end travel to enjoy yachting vacations on a state-of-the-art, environmentally green, and professionally staffed vessel without incurring the costs or stresses of yacht ownership.  Furthermore, the membership in WSY represents the opportunity to a potential customer to take part in an exclusive club with others holding similar interests.  Analysis has shown that this sort of luxury offering in a membership model has potential for strong performance in the marketplace.

In order to realize the benefits of this project, the management team is pursuing investors through the USCIS “direct” EB-5 Immigrant Investor program.  In compliance with this program, WorldSea Challenger, LLC. will employ more than 10 jobs per immigrant investor, totaling 66 jobs for 6 investors.  Each investor will make an equity investment of $1.0 million dollars to the WorldSea Challenger, LLC., allowing for a total maximum EB-5 capital raise of $6.0 million.  These funds, combined with other equity and debt capital, will be used to construct and operate the first yacht in the WSY fleet, the Challenger.  Following initial success, WSY plans to expand its fleet of yachts to realize the full potential and flexibility of the membership model of yachting.

For more information, please visit WSY’s website: www.worldseaeb5.com

Disclaimer

The use of this web site, or any of the contact forms found on this web site, for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this web site.

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