Business Immigration: What You Need to Know About Owning a Business in the U.S.

United states have a developed economy. The opportunities for doing business in the U. S. are wide for both its citizens and immigrants. But in order to own a business in this country, first of all, you need to decide on where to start your career.

Employees of any foreign business that has been successfully operating in the United States for more than a year can obtain an American L-1 visa. This is a nonimmigrant work visa. It is issued to heads of companies, top managers, leading specialists, whose work experience in these positions is at least three years.

Specialists whose partners are American companies also have a chance to become the owner of the L-1. On a visa category L, you can transport family members to America (an L-2 visa is issued for them). To do this, you need to prove to the US Citizenship and Immigration Service that each of the relatives is a potential “manager” and “executive director.” Unmarried children under 21 can also get an L-2 visa.

Also Read: Follow the Process to Get Student Visa for Germany

The L-1 visa is issued for specialists for 5 years and for executives or top managers for 7 years.

Another important point: in order to get L-1, the director must lead the company, and the manager must lead the people. So, if the executive director of an enterprise himself is engaged in the production of furniture, and not the management of specialists, by American standards he is not an executive director. This means that L-1 for 7 years, alas, will not be issued.

Starting your own business

If you have no experience in doing business, but you want to open your own business in the United States, you should pay attention to the EB-5 immigration program – investing capital in the American economy.

To participate in EB-5, you need to invest in the US economy at least 500 thousand dollars and create at least 10 jobs for citizens or permanent residents of the country, and the funds must be earned completely legally. Thus, you can become a resident and get the right to reside in the United States for family members (spouse and unmarried minor children).

The undoubted advantage is that with an EB-5 visa, a businessman and his family receive all the rights of a citizen of the United States. In addition, to obtain EB-5, you do not need to fulfill the conditions for age, education, work experience, knowledge of languages, ??and others.

The easiest way to invest money is through the so-called Regional Centers. These organizations distribute foreign capital to regions and sectors in need of investment. In the case of cooperation with the centers, a foreigner is almost guaranteed to receive a temporary (for 2 years) green card. The investor must file a petition with USCIS 90 days before the expiration date. After the application is approved, restrictions will be removed from the status of the EB-5 applicant. Further, he will become a full-fledged US citizen.

Buying an existing business

Before investing in a ready-made American business and obtaining an E-2 visa, you need to contact an immigration lawyer. If necessary, he will be able to minimize the risk of the consulate’s refusal. You will also need the services of a business broker – a specialist who knows how to find a suitable company or business project and a lawyer who will conduct the sale and purchase transaction.

Before buying, be sure to pay attention to three factors: price, self-sufficiency, and jobs. Despite the fact that the amount of investment is not officially regulated, you should count on at least 100 thousand dollars. In addition, this business should provide new jobs for Americans.

Before buying, an investor will have to study the American market well, as well as to conduct a whole series of marketing research.

Buying a franchise

On the one hand, the option is easier than others:

  • A ready-made brand
  • Debugged scheme of work
  • Minimal investment 
  • Owners often meet buyers and provide preferential terms for the purchase of equipment, as well as provide contacts for all suppliers.

On the other hand, the same advantages can turn into disadvantages. In addition to the working conditions strictly regulated by the owners, the franchise holder will be completely dependent on the success of the brand. In addition, the deductible will have to be paid monthly.

The Bottom Line

To successfully open a business in the United States, you need a decent amount of money. Moreover, this amount may turn out to be significantly more than indicated in the business plan. To calculate more accurately, you can use accounting services.  

Indeed, in the process, as a rule, a number of additional costs appear. It should be borne in mind that American banks very rarely issue loans to foreigners. The level of taxation in the United States is quite high: income tax can reach 40%. 

The choice of the state in which the new company will be opened must be taken as responsibly as possible. Indeed, each of them has its own laws and rules for registering legal entities. Most often, foreigners choose California, Nevada, Colorado, and Wyoming. There are the most understandable and progressive laws.

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Article Author Details

Amelia Grant

I am Amelia Grant, journalist, and blogger. I think that information is a great force that is able to change people’s lives for the better. That is why I feel a strong intention to share useful and important things about health self-care, wellness and other advice that may be helpful for people.