Acquiring an L-1A Visa and converting to Permanent Residence via the EB-1 Visa may be a better option for Foreign investors and entrepreneurs considering acquiring a Green Card via the EB-5 Visa category.
Inquires into obtaining the EB-5 Investment Green Card are the most common queries I receive from foreign investors and entrepreneurs looking to relocate to the Silicon Valley. This may work for those willing to risk $500,000 or $1 million and trust Investment Regional Centers to manage their money until they get the visa. However, there are numerous others who are more inclined to manage their investment themselves.
For those foreign investors and entrepreneurs, my usual recommendation is that they pursue an L-1A Visa. On the L-1A Visa path, an applicant lays the groundwork for a new business in the United States. They create a company here in the US with common majority ownership of a business they have in their own home country. There is also an option to purchase an existing US business.
Unlike the EB-5 Visa to acquire Lawful Permanent Residence, the L-1A Visa has no minimum investment requirement. Also, unlike the EB-5 Visa, there are no employment requirements. (Under the EB-5 Visa regulations, a comprehensive business plan is required with a schedule of how the foreign investor will be creating 10 new jobs on his or her project.)
With the L-1A Visa an upper level manager or executive may be transferred to the United States in order to start up a new corporate enterprise (this can be the investor/entrepreneur themselves). The L-1A Visa is then approved for an initial period of one year if the U.S. business has just formed. The L-1A Visa can potentially converted to an EB-1 Permanent Resident petition, which is just as fast and arguably more efficient and cost effective than the EB-5 Visa option.
L-2 Visas are available for the L-1A Visa holders spouse and children. The L-2 Visa spouse is able to obtain employment in the US. L-2 Visa children under 21 are able to live and attend schools in the US.
The L-1A Visa option with a conversion to Lawful Permanent Resident status is one of the more common and effective ways to acquire permanent residence in the United States for foreign investors and entrepreneurs.
Each L-1A Visa application is unique to the applicant. If you would like to find out if the L1-A Visa or the L-1A Visa to EB-1 Immigrant Visa path is right for you, call our offices to schedule a consultation with one of our experiences Business Immigration Attorneys 888.497.0190. Our Immigration Attorneys are available for appointments in person, by phone or by Skype for you convenience.