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buying a b&B in USA - questions please

buying a b&B in USA - questions please

Old Sep 2nd 2011, 3:03 pm
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Default buying a b&B in USA - questions please

Hi all
Myself and my husband would love to emigrate to The USA, we are in our early 40's. I am a qualified teacher and my husband has his own building business in The UK; we have found that this is not ideal for visas, immigration etc. Our idea was for me to work and my husband to run a business, most probably an established B&B in the US. We have travelled to the US every year for 15 years exploring each region.
Our question is if we were to purchase an established B&B business in The US how would we fair for visas and ultimately green card?
I can't seem to find anything out elsewhere on the web.
Other than that we would welcome any advice as to how we could work over there with out current careers
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Old Sep 2nd 2011, 4:26 pm
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Default Re: buying a b&B in USA - questions please

Originally Posted by stepmac View Post
Our question is if we were to purchase an established B&B business in The US how would we fair for visas and ultimately green card?
While a B&B is probably not the most lucrative use of your funds, you'd probably fare well depending on how much $$ you're willing to invest. Research the E family of visas if you haven't already... perhaps an E-2 visa. If you have young children, an E-2 may or may not be the best choice. Hopefully, someone else will be along soon with other suggestions.

Also, check this out. It'll help narrow your options.

Ian
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Old Sep 2nd 2011, 5:06 pm
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Default Re: buying a b&B in USA - questions please

Originally Posted by ian-mstm View Post
While a B&B is probably not the most lucrative use of your funds, you'd probably fare well depending on how much $$ you're willing to invest. Research the E family of visas if you haven't already... perhaps an E-2 visa. If you have young children, an E-2 may or may not be the best choice. Hopefully, someone else will be along soon with other suggestions.

Also, check this out. It'll help narrow your options.

Ian
Getting the visa is less of a problem, renewing it can be...If a very popular and well run one in Maine in a tourist trap got denied a renewal, anywhere else would be pretty tough too.

But then again, it probably all depends on where one wants to set up. Teaching, plenty of threads to follow on that one and you'd want to check out the states requirement for that, and same for work as a builder, which is quite different here.

Oh and the E2 investment visa doesn't lead directly to a greencard, though some folks, with a good lawyer have worked out a in direct path towards one. Plough a million bucks and you're in EB5 territory and a much more sure thing for a greencard.
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Old Sep 2nd 2011, 5:55 pm
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Default Re: buying a b&B in USA - questions please

Thanks so much for your prompt replies, I look forward to receiving some more ideas and helpful hints!
I did forget to say we would be selling our house in The UK and using the funds to invest in the B&B
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Old Sep 2nd 2011, 6:07 pm
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Default Re: buying a b&B in USA - questions please

Originally Posted by stepmac View Post
Thanks so much for your prompt replies, I look forward to receiving some more ideas and helpful hints!
I did forget to say we would be selling our house in The UK and using the funds to invest in the B&B
not the best of ideas especially wih a E-2 visa

This B&B was built up over a few year to become award winning ..but because of too few employees the US goverment denies a visa renewal and
had to be sold

http://www.innvictoria.com/about_inn_victoria.html
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Old Sep 2nd 2011, 6:37 pm
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Default Re: buying a b&B in USA - questions please

Thanks for you reply.
That is so sad, it looks a fantastic place. Have the owners sold and returned to The UK? I would be interested to hear the story / events surrounding this - I have looked on the web but could not find anything other than their B&B website.
I am assuming the same could happen with a business in the US owned and run buy an immigrant.
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Old Sep 2nd 2011, 6:39 pm
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Default Re: buying a b&B in USA - questions please

Originally Posted by stepmac View Post
I did forget to say we would be selling our house in The UK...
Don't do it. It's that simple. You must be prepared to lose everything if the business fails - which it may. You might never be able to recover your investment or even part of that amount.

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Old Sep 2nd 2011, 7:02 pm
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Default Re: buying a b&B in USA - questions please

Originally Posted by stepmac View Post
Thanks for you reply.
That is so sad, it looks a fantastic place. Have the owners sold and returned to The UK? I would be interested to hear the story / events surrounding this - I have looked on the web but could not find anything other than their B&B website.
I am assuming the same could happen with a business in the US owned and run buy an immigrant.
yes they lost everything and returned to the UK ..was about 2 years ago
plenty more stories like that .. but their are successes as well
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Old Sep 2nd 2011, 7:09 pm
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Default Re: buying a b&B in USA - questions please

I am assuming that in this position you would be able to sell the business/property and recoup some or all of your investment. I have read that you would be expected to employ 4-5 US citizens within 5 years or so.
It's so hard to predict the outcome of a business, but sometimes I guess that life is too short not to give things a go (with loads of investiagtion and preparation of course)
Is there anybody on here who has done a similar thing and would share the outcome/pit falls etc, good or bad!
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Old Sep 2nd 2011, 7:51 pm
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Default Re: buying a b&B in USA - questions please

EB-5 can also be done with a $500,000 investment if in a high unemployment or rural area.

Also, EB-5 is possible in an existing "distressed" business.

I've told the example of a case in an office I worked in. Client had obtained an E-2 based upon purchase of a car wash. It did so badly the first three years he owned it, it became eligible for EB-5 distressed business based upon the initial $600K investment. I recall the [then] INS officer and I totally agreeing that the law may be absurd, but the law was the law -- adjustment granted.

Only advice I will give -- contact a qualified immigration attorney. You are talking a lot of bucks here.
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Old Sep 2nd 2011, 8:37 pm
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Default Re: buying a b&B in USA - questions please

Originally Posted by Ray View Post
not the best of ideas especially wih a E-2 visa

This B&B was built up over a few year to become award winning ..but because of too few employees the US goverment denies a visa renewal and
had to be sold

http://www.innvictoria.com/about_inn_victoria.html
Wasn't the story I was thinking of, but does seem to have been quite a common thing with B&B's.
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Old Sep 2nd 2011, 8:42 pm
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Default Re: buying a b&B in USA - questions please

Originally Posted by Bob View Post
Wasn't the story I was thinking of, but does seem to have been quite a common thing with B&B's.
they dont need enough employees

the average family could run one with maybe part time help as needed
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Old Sep 2nd 2011, 8:46 pm
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Default Re: buying a b&B in USA - questions please

Currently, you come here every year and enjoy exploring different areas.

Selling up and moving here will not give you that freedom.

Just something to ponder as a reasonable and secure life in Britain with a nice holiday every year is not a bad deal.
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Old Sep 2nd 2011, 9:05 pm
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Default Re: buying a b&B in USA - questions please

We have been coming over for years to explore areas with a view to emigrating if we were able. My husband and I both work very long hours in The UK and have done for many years.
We would love to buy a business in The USA because we feel we are ready for a change, both in lifestyle and career. Nowhere in the UK/Europe would interest us as much as The US.
We are aware it would be a massive risk financially and emotionally but are prepared for that.
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Old Sep 2nd 2011, 10:12 pm
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Default Re: buying a b&B in USA - questions please

Originally Posted by stepmac View Post
We would love to buy a business in The USA because we feel we are ready for a change, both in lifestyle and career. Nowhere in the UK/Europe would interest us as much as The US.
We are aware it would be a massive risk financially and emotionally but are prepared for that.
Why the US? What specifically about it do you think would make your life better?

Doing the drudge and eeking out an existence is no different in a foreign country. What experience do you have to run a B&B that makes you think you'd have more luck doing it over in the US?

And if you've got to work all the hours in the day to stay afloat, how will you enjoy things in life any more?

Are you willing to flush all your retirement money down the toilet and have to move back to the UK and start from scratch? If you are seriously okay with that, go for it, if there's even the slightest doubt that you fancy the idea of living in some crap bedsit and working McD's in your retirement, then the gamble probably isn't worth it, when there are many other options to live in other countries.
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