Types of Entrepreneur Visas
October 31, 2019
Entrepreneurs who wish to come to the U.S. have various options. Visas are generally divided into two categories; some permit only temporary stays while others allow immigration and permanent residency status. Understanding which type of visa is appropriate can be daunting. Seeking advice from an experienced immigration attorney with expertise in assisting entrepreneurs is recommended. The following types of visas offer a pathway to enter the U.S. for entrepreneurs from abroad.
E-2 Treaty Investor Visa
The E-2 visa allows a national from a treaty country to enter the U.S. upon investment of a substantial amount of capital in a business in the U.S. The visa seeker must be interested in developing and directing the investment and show at least 50 percent ownership interest in the enterprise. The capital investment on this visa is typically around $100,000.
Only about 80 countries are on the list of treaty nations whose citizens can take advantage of this type of visa. If, however, one is from a treaty country, then the applicant needs to show evidence of investment through loan and investment agreements and bank account information. Furthermore, the investment cannot be sourced from criminal activities. One can either use their personal funds or obtain loans to meet the investment requirement.
EB-5 Immigrant Investor Program
Starting on November 21, 2019, this program has increased the standard minimum investment from $1 million to $1.8 million. Additionally, this program allows for investments of $900,00 in targeted employment area (TEA) designations. The TEA’s designation will be determined by the U.S. Citizenship and Immigration Services (USCIS). Since these areas tend to have high unemployment rates, the USCIS provides an incentive by requiring a lower amount of investment to start a business and create employment. This visa allows for the applicant and family members, such as a spouse and children, to immigrate to the U.S.
O-1 Visa for Individuals with Extraordinary Ability or Achievement
This visa allows individuals with extraordinary ability in the sports, arts, sciences, education, business, and motion picture industry to enter the U.S. This individual must demonstrate that they have recognition internationally for these achievements. This visa is only a temporary stay visa and does not allow immigration into the U.S.
This is an employment-based visa for those with extraordinary ability. Generally, an outstanding researcher, professor, or multinational executive or manager may qualify. The individual must show extraordinary ability, international recognition, and be an executive or manager at a multinational firm with a U.S. office. In the case of a manager or executive, their employer must petition for the visa.
Applying for any of the above types of visas can be a complicated and long process. It is important to ensure that the application is properly filed, and all necessary documents are supplied initially to minimize delays due to requests for additional evidence and other issues.
Philadelphia Immigration Lawyers at the Law Offices of MC Law Group, LLC Help Clients Obtain the Correct Visa
If you have a concern about the type of visa you need, contact the Philadelphia immigration lawyers at the Law Offices of MC Law Group, LLC We will help you pursue the most appropriate visa for your needs. Contact us online or call us at 215-496-0690 for a free consultation. Located in Philadelphia, we serve clients throughout the tri-state area, including Pennsylvania, New Jersey, and nationwide.