Starting a business as an immigrant.
The U.S. Department of Commerce reports that Immigrants often tend to settle in distinct spatial locations that develop into ethnic enclaves, which provides the immigrants the opportunities to socialize and associate with their co-ethnic peers, buy ethnic products and services, and ﬁnd employment in co-ethnic businesses.
Yearly, the U.S. welcomes immigrants with capacities to set-up their businesses and assist with boosting its economy. Immigrant-owned businesses contribute greatly to the U.S. economy asit is recorded that they have high business formation rates, and many of the businesses they create are very successful. In return, the U.S. actively promotes investments to boost its economy, give benefits to businesses ready to invest. Establishing your business in the U.S. gives you endless opportunities with impressive financial prospects.
Regardless of whether you need to begin a new business or grow your existing business in the U.S., there are opportunities for you. Fantastic! Right?
The U.S. has business expansion visa for businesses or individuals who needs to expand their businesses to the United States and this visa is known as the L-1 Visa option. The L-1 visa, popularly known as a business expansion visa, is a non-immigrant visa that permits businesses to expand their businesses to the U.S or starting a business as an immigrant. The L-1 visa is also known as the intra-company transferee visa, which allows multinational companies transfer their employees from foreign branches to locations within the U.S. However, the companies can only transfer employees that serve in a managerial or executive capacity or employees with specialized knowledge concerning the company’s operations.
The L-1 visa is broken down into two subcategories: the L-1A for managers and executives, and the L-1B for employees with specialized knowledge. Each has its own requirements and duration of stay and benefits.
When comparing these L-1 visas with many of the other work visa classifications, you will find that, depending on your immigration situation, it has many benefits that the others do not.
Some benefits of the L-1 visa include:
- The L-1 visa option has no limitations as worldwide partnerships can be established.
- Relatively fewer eligibility requirements and conditions provided that the business is legitimate and provide proof of the business registration, staff, and payroll documentation, among others.
- You don’t need to have an educational degree or offer of employment to qualify for the L-1 visa option.
- Like several other nonimmigrant visas, the USCIS considers the L-1 visa to be dual intent. This means both L-1A and L-1B visa holders can apply for permanent residency through the Green Card program without jeopardizing their current visa status.
While the process of applying and obtaining this visa option may not be too easy, the assistance of a qualified immigration attorney can help alleviate the documentation challenges for you. At CFUIS, we ensure that you are making the best decision & submitting the right documents for your case.