Learn About the U.S. Immigration Plans for Foreign Business Investors The United States is one of the top countries offering ease of doing business and making investments. It has one of the largest consumer markets with approximately 329 million people and a GDP of 20 Trillion dollars. Considering this data, it isn’t surprising that foreign business investors desire to immigrate to the U.S. Now the question is- What are immigration plans or options available to the investors? Ideally, investors focus on the “EB-5 immigrant investor program” to get a green card or permanent residency. According to this program, the investor needs to make a minimum of 1,000,000 dollars investment in a commercial enterprise. For many investors, it is not possible to make such a huge investment. Luckily, there are several other investment immigration plans that one can consider. Let’s learn about these plans.
The L1-Work Visa
Source: freestudy.com
The requirement of the L-1 work visa is that the individual must have worked for at least one year out of the last three years in an “affiliated” company outside of the U.S. before managing the work for the same company in the U.S. Let’s take an example for better understanding. Suppose you have worked as a manager in an automobile company in South Korea. Now you are transferring to their branch in Atlanta, United States. In such a situation, you need to fulfill the requirements mentioned above to get a work visa. This plan can also be used for an American start-up. The best part is that applicants from almost every country can apply for this. The maximum duration of this visa is seven years for managers and executives. The individual needs to file the petition with the USCIS (U.S. Citizenship and Immigration Service). After the petition is approved, the individual has to apply for a visa at the U.S. consulate abroad. Needless to say, the whole immigration process can get very complicated. Therefore, it is recommended to work with an Atlanta immigration lawyer to help you navigate the entire process. The lawyer will stay up to date with changing immigration laws and guide you from time to time, ensuring smooth permanent or temporary residency in the United States. Note: There is an exception for Canadian citizens. They need not go through a consulate. If their petition is approved, they can directly apply for the visa at the U.S. port. Also, know that after completing one year in the United States, the applicant can apply for a green card.
The E-2 Work Visa
Source: cloudfront.net In an E-2 visa, the applicant’s country must have an investment treaty with the United States. This visa is generally issued to executives, managers, or start-up investors for five years. Once the time period is over, the applicant can renew the visa. It is also noteworthy that the E-2 visa does not necessarily include the investor’s business past. Instead, the focus is on the future plan of the investor, i.e., starting their own business or investing in the already established firm. Another difference between the L-1 and E-2 visas is that there is no exception for Canadian citizens. Every individual must apply through a U.S. consulate in order to get a visa. The minimal investment requirement tends to vary according to the industry and nature of the company. Even so, the lower bracket for investment is around $75,000. Know that it is challenging to get permanent residency with an E-2 visa. Investor visa need to get EB-5 direct addition. So, you must consult an immigration lawyer if you wish to obtain permanent residence. Tip: Investment of $200,000 or more can make it easier to avail of the visa.
International Entrepreneur Program This program allows the Department of Homeland Security (DHS) to grant an authorized stay for a specific period using their parole authority. In simple terms, if an entrepreneur is able to prove that their stay in the U.S. can benefit the public with business growth and job creation. The parole could be granted to up to three entrepreneurs and enables them to work only for their specific start-up. This program can get quite complicated and make it challenging to get a visa. That’s why it is not very popular. Nonetheless, in each of the plans mentioned above, the investor’s family is also allowed to enter the U.S. and get the same status as the investor.
To Sum It All Up Understanding these immigration plans will help investors select the right plan. Nevertheless, make sure to get in contact with a lawyer who can help streamline the whole process, ensuring no issue in obtaining permanent residence.
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