Visa and Immigration Information-Business Brokers Hawaii

L-1 Treaty Investor Information and Guidelines:

INTRA-COMPANY TRANSFEREE VISA (L-1) & LAWFUL PERMANENT RESIDENCE (GREEN CARD) The Intra-Company Transferee Visa, "L-1", allows people who are employed as managers or executives in a corporation to be transferred to a business in the United States to assume the duties of an executive or manager. :

The business in the United States may be a new or existing business, and must be an affiliate or subsidiary of the company overseas, or have commonality of control with the business abroad. The business in the U. S. may engage in any type of business related or unrelated to the business abroad.

REQUIREMENTS - Visa Applicants must:

a) Have been employed by the overseas company for any one of the past three years as executive or manager

b) Assume duties of executive or manager in the U.S. business

c) Make an investment in the U.S. business; no specific amount of money required

BENEFITS

a) The Visa Applicant may work and collect a salary from U.S. business

b) May travel between U.S. & home country

c) May bring spouse and minor children to live in the U. S

d) Children may attend school

e) May apply for Lawful Permanent Residence (Green Card) when U.S. business has been in existence for more than one year, shows a profit, and has employees, providing the same conditions exist in overseas business

f) If the business purchased in the U. S. has been in existence for more than one year, the applicant and family members may apply directly for Permanent Status

g) L- I Visa may be issued in 8-10 weeks

E-2 Treaty Investor Information and Guidelines:

The E-2 Visa is available to passport holders of the countries listed above with which the United States has a Treaty of Trade and Commerce.

The E-2 Visa is a non-immigrant visa allowing the beneficiary to invest in a going business, or in a start-up business. The investment must be "substantial." Traditionally, "substantial" has been defined as $100,000 US which must constitute at least 51% of the total investment. However, in the case of a service oriented business with low capital requirements an investment of as low as $50,000 has proven to be acceptable to the Immigration Naturalization Service. The beneficiary of the E-2 visa must own the majority of the business; shares of stock in a corporation, more than 50% of a partnership arrangement, or own the business outright as a sole proprietor.

The business may not be a passive investment such as raw land, condominiums and houses rented on a yearly basis, and others. The United States government requires that the beneficiary of this visa has a separate income, which will generate a living wage. The separate source of income may be consultancy fees, interest income, rental income, pension, etc.

The E-2 recipient must be in a position to develop and direct the enterprise in the United States.

The applicants for the E-2 Visa will need to document the source of monies invested in the United States business, projected revenue of the investment, and the number of employees expected to be hired.

The beneficiary of the E-2 Visa, their spouse and children will all be permitted to enter the United States on an E-2 Visa. The spouse and children will not be granted permission to work, but may legally attend school.

The E-2 Visa is issued for a one year period, and is renewable in one year increments as long as the business perpetuates successfully.

One may apply for the E-2 Visa while in the process of starting a business prior to the hiring of employees, or the actual transaction of business. It is necessary to prove that a business venture is being started through bank accounts established in the name of the business, various licenses obtained to operate the business, brochures and agreements between potential clients, or sources of inventory, and leases.

ADVANTAGES AND RESTRICTIONS OF AN E-2 VISA:

ADVANTAGES:

It is issued for up to 5 years. However, this period can be extended almost indefinitely, so long as the original investment continues in existence
No need to maintain a foreign domicile only have to prove you are in a position to direct and manage business, need only to hold 51 % of ownership.
No previous experience required pertinent to business. Ideal for persons considering to retire to the USA
No need to visit USA during approval period.

RESTRICTIONS:

Must invest own funds and have outside income.
Investment must be in active business, passive investments, i.e. Vacant land, do not qualify.
Investment must be committed to business.

VISA SPOTLIGHT: EB-5 INVESTOR GREEN CARDS

As part of the Immigration Act of 1990, Congress created the immigrant investor visa category for foreign nationals who seek to enter the United States for the purpose of engaging in a new business venture. In order to establish eligibility for this visa, the foreign national must invest $1,000,000.00 in a commercial enterprise which will create ten full-time jobs for persons authorized to work in the U.S.

Although the million dollar figure may initially deter many investors, it is important to remember that this amount does not need to be immediately invested in the enterprise. Instead, the investment can be made over a two year period. In addition, if the new commercial enterprise is located in a rural area or area of high unemployment, the entrepreneur will qualify for the visa with an investment of $500,000.00.

Similarly, the enterprise does not have to employ ten full-time workers at the time the visa is granted. Instead, the employment positions must be created within two years. In addition, if the enterprise is located in a specially designated regional center under the Immigrant Investor Pilot Program, an entrepreneur can qualify for this visa by demonstrating that his/her investment will create ten new jobs directly or indirectly. In order to count toward the requisite ten positions, the investor will need to demonstrate that the indirect positions were a result of local economic growth created by the new commercial enterprise.

A center can apply to the Assistant Commissioner for Adjudications of the Immigration and Naturalization Service to qualify as an Immigrant Investor Pilot Program regional center. Currently, regions of Arizona, Colorado, Georgia, Hawaii, Louisiana, Massachusetts, Michigan, Nevada, New York, South Carolina, Texas, and Washington are designated regional centers.

Eligibility Requirements

To qualify for the immigrant investor visa, the foreign national must establish the following elements:

The entrepreneur established or is establishing a new commercial enterprise. This element may be demonstrated by providing articles of incorporation, a certificate of merger or consolidation, a partnership agreement, a local business license, and/or evidence that, since November 29, 1990, the required amount of capital has been transferred to the enterprise.
The entrepreneur has invested or is actively in the process of investing the required amount of capital. It is crucial to document that the capital is "at risk." Note: On January 22, 1997, the State Department issued a cable advising that consular officers examine three features when determining whether investment funds are "at risk." First, the officer should ensure that, if the capital consists of a promissory note, the entrepreneur cannot exercise a sell option until the note is paid in full. Second, the capital will not be considered at risk if it is used to make payments on such a promissory note. Third, investments using trust funds can only be counted toward the requisite capital amount if they are fully available to the new commercial enterprise.
Investment capital has been obtained through lawful means.
Ten full-time qualifying employees have been hired to work at the new commercial enterprise. Alternatively, the investor can provide a comprehensive business plan showing that the enterprise will need to hire at least ten qualifying employees within the next two years.
The entrepreneur will be an active investment partner in the enterprise. The investor should be involved in the management of the commercial enterprise, either through day-to-day managerial control or through policy formulation (such as serving on a board of directors). Multiple investors may establish a single commercial enterprise and obtain immigrant visas on the basis of this investment as long as each entrepreneur invests the requisite amount and each investment results in the creation of at least ten full-time positions for qualifying employees.

Conditional Status

Once a petition is approved, the immigrant investor and his/her spouse and children are granted conditional residence for a period of two years. 90 days prior to the second anniversary of obtaining such status, the investor should file for removal of the conditions.

In order to remove the conditions, the foreign national must show that:

a commercial enterprise was established by the foreign national;
the foreign national invested or was actively in the process of investing the requisite capital; and
the foreign national sustained the investment and the commercial enterprise throughout the period of conditional residence.

If the Immigration and Naturalization Service is satisfied that the investor meets these requirements, the conditions will be removed and the investor and his/her immediate family will be granted lawful permanent residence.

The above information courtesy of Siskind Susser Haas & Chang -- www.visalaw.com