Problems with E2 or L1 visa renewal? How the EB-5 visa can be the answer.

Many individuals and families in the States are on non immigrant visas such as the E2 or L1 which only allow you and your family to stay for a limited period. Among the problems these visa holders can face are:

•    The business they bought is not delivering sufficient turnover or employing sufficient staff for visa renewal to be successful.
•    The owner of the business is not well enough to continue operating the business.
•    The owner of the business wants to retire but cannot remain in the USA if they no longer maintain the business.
•    The owner’s children turn 21 and face deportation as they are no longer covered by the visa.
•    The owner did not really want to run a business, but was not advised of other options.
 
The E2 in particular has proved a problem visa for the reasons above. Additionally those looking to obtain immigration via the L1 or E2 often have reservations about relocating on a non immigrant visa and having to uproot their family back overseas after a few years. For them the EB-5, which provides permanent residency and a path to U.S. Citizenship, is an ideal alternative particularly if processing time is important.

Comments from a Consular Officer on the E2 visa

“I would also like to point out that a non immigrant (E2) visa is not a good option for someone who intends to reside permanently in the United States. If the investor retires or sells their investment, his or her visa status lapses and he or she must leave the US. Only single dependent children under 21 are eligible for visas to accompany their investor parent, and when these children turn 21 they lose their status as a dependent and their visa. The more secure option for those that have the necessary capital is the permanent resident (EB5 greencard) investor visa. In this case the required investment is one million dollars, or under certain ircumstances $500,000.”
John Caulfield, Consul General, US Embassy.

If you are planning to live permanently in the United States and are interested in the EB-5 regional center pilot program please click here now for information.
 

Case study: Family on the E2 visa decide the EB-5 visa offers a better long term option

The family had relocated to the USA on an E2 visa, they had not been made aware of the less well known EB5 visa at the time or that their children would have to leave the USA at 21. After a year of working in the E2 qualifying business they had bought, a combination of ill health and business downturn raised concerns that they could be unsuccessful in obtaining renewal of their visa. They were particularly concerned that their children would have to return to the UK after successfully adapting to their school and lifestyle in the USA.
 
After a discussion with Andrew Bartlett and Tony Olson they looked at the EB-5 regional center pilot program in more detail. Project track record, speed of obtaining the green card and investment with a company that offered a specific exit strategy were important criteria. They decided to invest $500,000 in a well established center that had an existing program loaning development funds over five years for the expansion of a major state/city conference centre; they were less concerned about the modest return on the loan as their focus was on inimizing risks regarding the return of funds.

The required funding for the $500,000 investment was provided by accumulated savings.The I-526 approval took just over two months and the applicants received green cards a month later – the process taking a total of just over three months. We have continued to keep in touch and checked out issues that have cropped up with them for the benefit of new investors.

If you are planning to live permanently in the USA and are interested in the EB-5 greencard please click here now for contact information.