What Visas are Available for International Entrepreneurs?
Several types of visas are available for international entrepreneurs. Each visa has its own set of criteria that must be fulfilled to qualify and unique benefits not offered with other types of visas. Below, we will discuss each type of visa available for entrepreneurs.
What is the E-2 Visa?
The E-2 visa allows cardholders to invest money into a United States business and the opportunity to run that business. This visa is only available to people from treaty countries listed here. The E-2 visa allows spouses and unmarried children under the age of 21 to accompany the cardholder and to get U.S. immigration benefits, such as spouses being able to obtain work authorization and children being able to attend U.S. schools.
The E-2 visa is considered a nonimmigrant visa, which means that it does not lead to a green card. However, with the help of an immigration attorney at Stelmakh & Associates, LLC, there are several ways this type of visa may be converted into a green card. The number of extensions that may be filed for this visa is not limited.
What are the Requirements for the E-2 Visa?
The requirements for the E-2 visa are as follows:
- The applicant must be a national of an E-2 treaty country with the United States.
- The applicant must make a substantial investment in a U.S. business.
- The business must be an active, for-profit business.
- The applicant must direct and develop the business.
- The investment must be considered at-risk and irrevocably committed to the business
- The investment funds must be lawfully obtained.
- The applicant must have the intention of leaving the United States once the visa status expires.
What is the EB-5 Visa?
The EB-5 visa is similar to the E-2 visa but with specific differences. It allows cardholders to obtain a green card for themselves, a spouse, and unmarried children under 21 years of age as long as they have invested in a U.S. company and created U.S. jobs.
The EB-5 visa mandates a higher minimum investment than the E-2 visa of $1,050,000 or $800,000 if the business is within a targeted employment area.
What are the Requirements for the EB-5 Visa?
The requirements for the EB-5 visa are as follows:
- The applicant must invest at least $800,000 in a new commercial venture.
- The investment must be at risk.
- The investment funds must be lawfully obtained.
- The investment must lead to the creation of ten full-time jobs for United States workers.
- The applicant must be involved in the management of the business.
What is the L-1 Visa?
The L-1 visa is a nonimmigrant visa that allows foreign companies to transfer a manager or executive to an affiliated United States company. The U.S. company must have a qualifying relationship with the foreign company. Examples of qualifying relationships include parent/subsidiary, branch office, or other affiliate relationships.
This type of visa allows foreign companies to transfer managers or executives to the U.S. to work for a new office.
What are the Requirements for the L-1 Visa?
The requirements for the L-1 visa are as follows:
- The applicant must demonstrate a qualifying relationship between the foreign and U.S. companies.
- The applicant must have been employed full-time by the foreign company for a minimum of one year, continuously, within three years of applying for the visa.
- The applicant must have worked for the foreign company as a manager, executive, or other specialized knowledge worker.
- The applicant must be coming to the United States to work as a manager, executive, or other specialized knowledge worker for a U.S. company.
What is the EB-1C Visa?
The EB-1C visa is the immigrant version of the L-1 visa, meaning that it qualifies for a green card. It allows a foreign company to transfer a manager or executive to the United States to work for an affiliated U.S. company.
Unlike the L-1 visa, the EB-1C mandates that the U.S. company be operational for a minimum of one full year prior to petitioning. This visa does not allow the applicant to work as a specialized knowledge worker; the applicant must work either as a manager or executive.
What are the Requirements for the EB-1C Visa?
The requirements for the EB-1C visa are as follows:
- The applicant must demonstrate a qualifying relationship between the foreign and U.S. companies.
- The applicant must have been employed full-time by the foreign company for a minimum of one year, continuously, within three years of applying for the visa.
- The applicant must have worked for the foreign company as either a manager or executive.
- The applicant must be transitioning to the U.S. company as either a manager or executive.
- The U.S. company must be operational for a minimum of one year prior to petitioning.
What is the International Entrepreneur Rule?
The International Entrepreneur Rule is a way for entrepreneurs to live and work in the United States temporarily. It is not a visa, but it does grant a period of authorized stay of up to 30 months, which is granted by the Department of Homeland Security.
What are the Requirements for the International Entrepreneur Rule?
The requirements for the International Entrepreneur Rule are as follows:
- The applicant must have significant ownership of a startup company that has been formed within the last five years in the U.S.
- The company must have significant potential for rapid growth and job creation.
- The applicant must have a primary and active role in the company.
- The applicant must prove that his or her stay in the U.S. will provide substantial public benefit.
Do I Need an Attorney?
If you are an international entrepreneur, you have many options for a visa. Stelmakh & Associates, LLC’s knowledge can help you determine what is right for you. Call us today at 206-558-6288 or fill out a contact form for a consultation.
