Two Popular U.S. Visas
How to Obtain A U.S. Visa: Investment or Management?
The EB5 is an Immigrant Visa which, upon approval confers permanent residency status “Green Card” to its holder and his or her derivatives. In order to obtain this status, one must be an international investor and invest the minimum of $500,000.00 in the rural areas or $1,000,000.00 in the metropolitan regions, i.e., the areas with population of 1,000,000 or more. In addition, the applicant must be engaged in a productive commercial activity which produces income. Moreover, the applicant must hire at least ten (10) full time U.S. workers. Certain regions are designated by the government as economically distressed, underdeveloped, or underemployed. In such areas, even fewer number of employees would suffice.
The process normally takes one or more years and after approval by the Immigration Service, a “Conditional Green Card” for the investor and his immediate family members (spouse and children under 21) will be issued. The investor must retain the investment for at least two years thereafter in order to apply for removal of the “condition” from his or her residency and secure a permanent and un-conditional “Green Card.”
There are also a few organizations in the U.S. that have been approved by the Immigration Service to accept shareholders for the purposes of applying for Green Card under EB5. These entities normally pay the interest on the invested capital and return the principal investment after completion of the EB5 process.
The L1 (Intracompany Transferee Visa) on the other hand, is a Non-Immigrant visa. This permit is usually issued for executives, managers or those who possess special or technical knowledge.
In order to apply for a L1 visa, there must be a parent company with at least three years proven record of success in overseas. This entity should establish a branch in the U.S. (as either a subsidiary or affiliate) and designate one or more managers, executives, or persons with special technical knowledge to come and work in the U.S. for the duration of their status.
This visa, depending on the nature and scope of its underlying services and other surrounding circumstances, could be extended up to 7 years. This visa, despite its temporary nature, could be changed over to a “Green Card” under certain conditions, usually after one year, provided that the subsidiary remains viable and operative. There is no minimum amount for the investment funding the L1 Company in terms of capitalization; however, this amount would be largely dependent on the type and nature of the work the company is intended to do.
***
Cyrus Meshki
(Attorney at Law)
(310) 888-1122
Cyrusmeshki.com
Email: cyrusmeshki@gmail.com
