Dreaming of expanding your business to the U.S.? Discover the visa options that can turn your dream into reality.
With a variety of visa options available, foreign entrepreneurs can find pathways that best suit their business goals and personal circumstances. This article explores the key immigrant visa options for foreign entrepreneurs looking to establish or grow their businesses in the U.S. For non-immigrant (temporary options), see here.
EB-5 Immigrant Investor Program: Invest and Grow
Congress created the EB-5 program to stimulate the U.S. economy through job creation and capital investment by foreign investors. This is the visa category most people think about when we say "investor visa". The EB-5 can work for entrepreneurs investing in their own businesses, assuming they meet the capital thresholds. It’s also a great option for investors seeking a passive role - by pooling their investments through a Regional Center Program, they may qualify for a Green Card.
What investment is required?
You must invest in a new commercial enterprise established after November 29, 1990.
The required investment is $1.05 million unless the enterprise is in a targeted employment area (TEA), which has a high unemployment rate or is in a rural area. In that case, the minimum investment is $800,000.
You must establish the lawful source of your invested capital.
What job creation is required?
You must establish that the new commercial enterprise will create full-time positions for at least 10 qualifying employees.
Are there any requirements after I become a permanent resident?
Immigrant investors are admitted as lawful permanent residents on a conditional basis. Within ninety days before the two-year anniversary of obtaining conditional lawful permanent resident status, you must apply to remove the conditions on your status.
Benefits:
Direct path to a green card for the investor and their immediate family.
No requirement for a treaty country nationality.
Drawbacks:
High investment threshold.
Lengthy and complex application process – initially only granted a conditional green card.
EB-1A Extraordinary Ability: For the Best of the Best
You may be eligible for the EB-1A extraordinary ability immigrant classification if you have extraordinary ability in the sciences, arts, education, business, or athletics as demonstrated by sustained national or international acclaim and recognized achievements in your field of expertise. Extraordinary ability means that your level of expertise indicates that you have risen to the very top of your field. You may self-petition as an extraordinary ability individual, as a job offer is not required for this classification.
Requirement 1: Demonstrate Extraordinary Ability
You must establish that you have extraordinary ability in your field. This can be shown by either receiving a major internationally recognized award (think Academy Award or Pulitzer Prize) or meeting at least 3 of the 10 criteria listed below:
Lesser nationally or internationally recognized prizes or awards for excellence.
Membership in associations that require outstanding achievements.
Published material about you in professional or major trade publications.
Participation as a judge of the work of others.
Original contributions of major significance.
Authorship of scholarly articles.
Display of your work at artistic exhibitions or showcases.
Leading or critical role in distinguished organizations.
High salary or other remuneration compared to others in your field.
Commercial successes in the performing arts.
Requirement 2: Continue Work in Your Area of Extraordinary Ability
You must show that you will continue working in your area of extraordinary ability and that your work will substantially benefit the United States. Evidence can include:
Letters from current or prospective employers.
Documents evidencing prearranged commitments (such as contracts).
A statement detailing your plans to continue working in your field in the U.S.
Benefits:
No job offer or labor certification required.
Direct path to an unconditional 10-year green card.
Drawbacks:
High standard of proof for extraordinary ability.
Extensive documentation required to demonstrate extraordinary ability.
EB-1C Multinational Executive or Manager: Expand Your Business
The EB-1C visa is ideal for entrepreneurs who have an existing business outside the U.S. and wish to expand their operations by transferring as an executive or manager to a U.S. branch, subsidiary, or affiliate.
Requirements:
The applicant must have worked for the foreign company for at least one year within the last three years.
The U.S. office must have a qualifying relationship with the foreign company.
The applicant must be coming to the U.S. to work in an executive or managerial capacity for an entity related to the entity in the foreign country.
Benefits:
Direct path to a green card for the executive or manager and their immediate family.
No labor certification required.
Unlike EB-5, the EB-1C does not require a personal investment, nor does it bestow conditional residency.
Drawbacks:
The U.S. business must be fully operational for at least 1 year, and have a qualifying relationship with the foreign company.
Not suitable for new U.S. startups; although may seek a new office L-1A first and then a Green Card through the EB-1C category.
EB-2 National Interest Waiver (NIW): For Projects with Positive Impact on the U.S.
The EB-2 immigrant visa category is for noncitizens who are either professionals with advanced degrees or individuals with exceptional ability in the sciences, arts, or business. This category generally requires a job offer and a labor certification issued by the U.S. Department of Labor (DOL). However, an entrepreneur seeking EB-2 classification and a National Interest Waiver (NIW) may self-petition and not be subject to the labor certification requirement. This exemption allows entrepreneurs to file an EB-2 visa petition if they can qualify for an NIW, which exempts them from the job offer requirement and, thus, the labor certification requirement.
Advanced Degree Professionals
You must show that you have a U.S. advanced degree or foreign equivalent degree. An “advanced degree” is an academic or professional degree above a bachelor’s degree. Evidence may include:
Copies of official transcripts.
Certified copies of the actual degree, diploma, certificate, or similar award.
Any other official documentation from the school’s Office of the Registrar.
An evaluation from an educational evaluation agency, if you obtained your degree outside the United States.
If you only have a U.S. bachelor’s degree (or foreign equivalent degree), letters from your current and/or prior employers showing at least 5 years of progressively responsible experience in your field after you received the degree.
Exceptional Ability (required if you cannot show you have an “advanced degree” as defined above)
You must show that you have exceptional ability in the sciences, arts, or business. The initial evidence must include at least three of the six types of evidence listed below:
Degree, diploma, certificate, or similar award from a college, university, school, or other institution, relating to the field of exceptional ability.
At least 10 years of full-time experience in your field.
License or certification to practice in your profession or occupation, if required.
High salary or other remuneration for your services, which demonstrates your exceptional ability.
Membership in professional associations.
Recognition for achievements and significant contributions to your industry or field.
National Interest Waiver
USCIS may, as a matter of discretion, grant your request for a National Interest Waiver where the following requirements are met:
Your proposed endeavor has both substantial merit and national importance. You must show that you will substantially benefit prospectively the U.S. economy, U.S. cultural interests, U.S. educational interests, or U.S. welfare. A prospective benefit is generally shown by documenting a past record of achievements and explaining how that indicates your future success in solving/advancing an issue of national importance to the United States.
You are well-positioned to advance the proposed endeavor. To prove this prong, produce documents showing how your past accomplishments benefit the United States as a whole; copies of awards or any special recognition you may have received; published reports about your successes; letters from current or former employers documenting your prior work experience; letters from experts in your field regarding your accomplishments and their significance; a detailed business plan.
On balance, it would be beneficial to the United States to waive the requirements of a job offer, and thus the labor certification.
USCIS considers that entrepreneurs do not follow traditional career paths and start-ups vary in structure. As an entrepreneur petitioner, you may submit other types of evidence to establish that your endeavor has substantial merit and national importance, that you are well-positioned to advance the endeavor, and that, on balance, it would be beneficial to waive the job offer and labor certification requirements.
Benefits:
No job offer or labor certification required.
Direct path to a green card.
Drawbacks:
Requires strong evidence to demonstrate national interest.
Extensive documentation and a compelling case are necessary.
Practical Tips for Applicants
Thoroughly Research Visa Options:
Understand the specific requirements, benefits, and drawbacks of each visa type.
Consider your business goals, investment capacity, and long-term plans when choosing a visa.
Consider a non-immigrant visa option that may be a stepping stone for a permanent option.
Prepare Comprehensive Documentation:
Gather all necessary documents, including business plans, financial statements, and proof of investment.
Ensure your documentation clearly demonstrates how you meet the visa requirements.
Seek Professional Guidance:
Consult with an experienced immigration attorney to navigate the complexities of the application process.
Demonstrate Business Viability:
Provide evidence of your business’s potential for growth and job creation in the U.S.
Highlight any unique aspects of your business that contribute to the U.S. economy.
Maintain Accurate Records:
Keep detailed records of all transactions, investments, and business activities.
Accurate records will be crucial for both the application process and any future visa renewals or adjustments.
Navigating the U.S. visa process can be complex, but with the right information and guidance, you can find the best pathway for your entrepreneurial journey. Contact us today to get started! 🚀
Ready to explore your visa options? Contact us at info@peludimmigration.com for a consultation.
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