E2 and llc

Old Mar 6th 2017, 7:31 pm
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Default E2 and llc

If someone is on an E2 and sells his llc is the visa defunct...
Or can the proceeds be put into a new e2 visa situation, without being landlocked?? Thanks
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Old Mar 6th 2017, 7:54 pm
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Default Re: E2 and llc

Originally Posted by gwensvilla View Post
If someone is on an E2 and sells his llc is the visa defunct...
Or can the proceeds be put into a new e2 visa situation, without being landlocked?? Thanks
I understood that an E-2 is given to the business, not the individual. So if the asset of the LLC is the business for which you were awarded the E-2, then once you sell it, you are back to square one and need to apply for a new visa.
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Old Mar 6th 2017, 9:22 pm
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Default Re: E2 and llc

That was my understanding too. But I've been told that someone had experience of purchasing another business before the first one closed and the visa continued...I am wondering if they kept the llc and sold a dba (doing business as/fictitious named business) and replaced that...
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Old Mar 6th 2017, 10:52 pm
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Default Re: E2 and llc

Originally Posted by Nutmegger View Post
I understood that an E-2 is given to the business, not the individual. .....
You can't give a visa to a business - my understanding is that the visa is given to an individual for a specific business, so the effect is the same, if the business is sold, or folds, the visa is void.
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Old Mar 6th 2017, 10:53 pm
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Default Re: E2 and llc

Originally Posted by Pulaski View Post
You can't give a visa to a business - my understanding is that the visa is given to an individual for a specific business, so the effect is the same, if the business is sold, or folds, the visa is void.

Badly phrased on my part -- it is indeed given to the individual to be applied to a specific business, can't be used for just any endeavor.
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Old Mar 6th 2017, 10:58 pm
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Default Re: E2 and llc

Originally Posted by gwensvilla View Post
That was my understanding too. But I've been told that someone had experience of purchasing another business before the first one closed and the visa continued...I am wondering if they kept the llc and sold a dba (doing business as/fictitious named business) and replaced that...
Well that would become a murky area. What happens if you buy, say, a hotel and run it on an E-2, it does well, and you buy another hotel. I suspect that is probably still OK. What happens if you sell the first hotel? .... I think the visa would be voided.

Certainly an LLC can sell the assets of a business without the LLC legal entity being sold. So you obtain an E-2 to buy a hotel held in an LLC. The LLC sells the hotel, and buys a florists shop. .... I suspect that the E-2 would be voided when the hotel was sold.

This is all arcane stuff, and I would strongly recommend obtaining the counsel of an experienced immigrant attorney.
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