Entrepreneurs and new businesses often need to move their companies and employees to a new country to grow. There are several ways you can bring your company across borders. So, there needs to be more clarity in choosing the right visa program for your business.
There are many factors to consider, such as the nature of your business and its complexity. This article will discuss different immigration options for entrepreneurs and new companies and their benefits.
E-2 Treaty Investor Visa
The E-2 Treaty investor Visa is a nonimmigrant visa. This visa allows U.S. citizens to invest in a foreign enterprise and live in the United States for up to five years, subject to certain restrictions. To qualify, an applicant must be at least 18 years of age and have sufficient net worth.
The E-2 Treaty Investor Visa enables the investor to direct and develop the firm while residing and working in the U.S. It also permits the immigration of staff with Executive, Management, and Essential Skills. As long as the business is conducted in the U.S., they may renew the E-2 Treaty Investor visa.
The L-1 visa is a nonimmigrant visa that allows U.S. citizens and Lawful Permanent Residents (LPRs) to work temporarily in a foreign country.
The L-1 visa is another work visa that the United States of America grants to professionals who want to work there. An L-1 visa is given to people already employed by a company in another country and just migrating to an American office. This is in contrast to the H-1B visa, given to people who wish to join an American company.
Some refer to these visa holders as intracompany transferees.
International Entrepreneur Parole Program
The International Entrepreneur Parole Program (IEP) allows entrepreneurs from eligible countries to obtain parole into the U.S.
This IEP gives them temporary authorization for employment, residence, and travel for two or three years, depending on their country of origin.
Under a special rule known as the International Entrepreneur Parole Program, the Department of Homeland Security is permitted to use its parole authority to grant foreign entrepreneurs a period of authorized stay if they can show that their presence in the United States would have a significant positive impact on society. An entrepreneur who meets the conditions can enter the country and be permitted to work for their starting company there through the international entrepreneur parole program.
Let’s go over some of the specifications for the global entrepreneur parole program.
- The business owner must own at least 10% of it, which is the first prerequisite. This implies that you must own at least 10% of the company to be more than just an employee.
- The second prerequisite is that the entrepreneur must actively participate in the company’s management. You can’t just invest passively.
- The startup company must have been founded within the last five years, which is the third criterion. In other words, it must be a new company. The company is ineligible for this program if it was founded more than 20 years ago.
Suppose you’re considering starting a business in the United States or already running a business and want to bring over employees from another country. In that case, exploring your immigration options early on in the process is essential. Your chances of success are greater if you plan, secure the correct visa, and avoid common pitfalls.
There are a variety of visas available, and an immigration lawyer can help you navigate the process and choose the best option for you and your business. Our immigration law firm has a wealth of experience assisting entrepreneurs and business owners with their visa applications. We tailor every immigration case to our client’s specific needs and requirements. Our immigration attorneys are dedicated to your case from start to finish. Schedule a consultation with an immigration lawyer today!