Ray

Florida Paradise Lost program is on Thursday, August 26th at 9.00.

dwhittles

well done Ray! was trying to find out when that was rescheduled.

hannahlove7

Hope i'm not writing this in the wrong place- didn't want a whole new topic just for this, but wanted an opinion on my business / E2 visas which i am just starting to look at.

I own and manage from home a successful limited company. I employ one person, plus a few contractors on regular work. If i was to apply for an E2 visa i would be looking to start the business in the same field of work.

I have a few 'concerns':

- my business start up costs are VERY low. I have enough capital to throw say, $200,000 into this if i need to but i have a hard time figuring out how to spend it. The only cost is going to be a small office, two computers, a phone and maybe a single employee (and don't really need the employee). There is a lot of talk about the investment that goes with this visa - is this going to be a big problem? I can always invest more if it is essential but i'd rather not unless it is vital.

- would my business expenses for the first year count towards the amount counted as investment? if so, that could easily make up the figures a fair bit - well maybe $50,000 or so on top.

- my business has a very large profit margin. You give me $10,000 to start a business doing what i do and i can turn it into $100,000 profit this year. This is because my work is 100% internet based (can this cause a problem too since i don't HAVE to be in the USA to run it?) Would immigration frown on me earning what would be a pretty high amount and having a hugely successful business but NOT having employees? It sounds a bit far fetched but i have done this already with my current business (profit last 12 months topped $200k but had no employees).

So there is a lot of talk about marginality of businesses, but my problem is simply that i can't make a huge investment because i wouldn't know what to spend it on (but if i absolutely have to i could get an expensive office and go crazy on furnishing it!?). Is having money available enough? Secondly, is it going to throw up red flags because it is internet based? Should i just give up on this and use my money to buy a more conventional and safer business if i want to go for this visa?

Finally (sorry), is it possible to change to an EB5 visa once i have $500,000 or $1million to invest?

Thanks in advance - hope all this made sense.

goldenstate31

for an E2 you do need employees, but you can change from E2 -EB5 later on.
not sure how it would work regarding online, because as you say you dont need to run this from the states. However maybe a well drafted business plan from an immigration attorney will suffice. But not sure how USCIS, will approve if you dont have any employees?

Flabound oneday

why not also look at an L1 ?? the employee situation might make you marginal but it might swing

GeoffM

Somebody will no doubt pounce on me if I'm wrong, but when I was looking into this visa I believe that anything directly related to the business could count as the investment (eg rent, equipment, maybe pot(ted) plants) but nothing related to the visa (filing fees, attorney fees). I can't remember whether reconnaissance missions counted or not - ie flying to the US to find a suitable premises. Putting a large rental deposit in escrow dependent on getting the visa seems to be common, and counts towards the investment.

A very small number of people have managed to get E2s with investments in the low tens of thousands but I suspect they would have had to have been somewhat exceptional.

But E2 visas get bad press around here as you could still be making money yet have a renewal refused. Maybe this upcoming "Florida Paradise Lost" TV programme will enlighten us - it's on Thursday, August 26th at 9.00 (thanks, Ray).

Usual advice - find a recommended immigration attorney that deals with E2s on a regular basis.

hannahlove7

Yes i don't want to get caught up in an E2 nightmare if i did end up wanting to remain in the usa. I also have a young daughter so there is no way i'd stay on this visa very long term - i was thinking for a couple of years (or maybe 5 max) until i had enough money for EB5.

I'll go speak to a lawyer but if research / fact finding trips and expense in the usa count that would be great, along with initial costs i think could push it past $100k. Guess i need a very convincing business plan and would maybe need to hire staff even when i don't need them too much, maybe i will get myself a P.A and hire people direct instead of contractors (e.g a web developer).. i could realistically sustain 3 or 4 employees i think within the first year. Of course having 3 employees would bump the investment up at least another $10k a month (say $120k for year 1) or even more.

Thanks for your input everyone, it really helps to hear from people outside of my situation - i feel bogged down in it and overwhelmed at all the options.

L1 is something i need to research too i guess. Whichever is easier while i'm waiting to (hopefully) get enough cash for EB5.

GeoffM

[QUOTE=hannahlove7;8782439]if research / fact finding trips and expense in the usa count that would be great, along with initial costs i think could push it past $100k.

From http://www.breakthroughusa.co.uk/e2-chapter-08/:
If you mean wages, I don't know whether that counts as investment. Somebody else here might know. However, having employees in itself is probably better from a renewal point of view.

Another possibility is if you have a product that you can sell to a company which can then employ you to continue work on that product. Probably not something you want to do if you make such vast profits on it, but sometimes trade-offs are needed if you want something badly. But, as you say, look into other visas too - look at the requirements of EB1 if your product/service is exceptional and/or unique.

scrubbedexpat099

The business model does not seem an obvious candidate for an E2 Visa.

goldenstate31

yep! i hate to agree David, (as im always the optimistic one)
But i thought an E2 had to be invested in something real. i.e a shop, restaurant, existing business........
Not too sure either if any travel/indirect related costs to the business count towards the investment either? (at least I didnt think it did)
i.e the 200,000 (dollars) has to be invested in a real business, even with the best of business plans, i dont think expenses etc count towards the investment and will not stand with USCIS.