Hello, I have few question regarding using e2 visa to startup a hi-tech business in US:
Are intellectual properties (e.g. a developed technology) considered as part investment?
How future funding series and adding funding members will affect the validity of status? For example if after 2 years I end up with less than 50% of the company share which valued at more than few million dollars.
As most tech startups companies runs with only few technical funding members in their first few years and are not profitable in that time period, can company recent valuation or other technically measurable factors be considered instead of revenue and number of employees?
Wishful thinking. You must invest a substantial amount of money, not just intellectual properities, in the company. We recommend at least $100,000. You must provide employment for U.S. workers. We recommend at least 3-4 full time jobs to start. And you must continue to own at least 50% of the company in order to maintain your E-2 status.
(213) 394-4554 x0 Mr. Shusterman is a former INS Trial Attorney (1976-82) with over 35 years of immigration experience. His response to your question is general in nature, as not all the facts are known to him. You should retain an attorney experienced in immigration law to review all the facts in your case in order to receive advice specific to your case. Mr. Shusterman's statement above does not create an attorney/client relationship.
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I agree with Mr. Schusterman.
Legal disclaimer: The statement above is general in nature, as not all the facts are known. You should retain an attorney to review all the facts specific to your case in order to receive advise specific to your case. The statement above does not create an attorney/client relationship.
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Attorney Shusterman has provided you with an excellent comment. It is advisable you consult ith an experienced immigration attorney and bring all information you have concerning your immigration, employment, education, and fiancial investment history to the attorney who can provide you with a legal opinion as to what immigration benefits you may qualify for under existing laws. Good luck.
Legal disclaimer: The statement above is provided by CC Abbott is based on general assistance and not intended to be a legal opinion because not all the facts are provided. The person requesting information and all others reading the answer should retain an attorney who is permitted by the state bar within the jurisdiction who can examine the complete facts and provide a legal opinion on your case. All information provided in the above answer and other information provided by CC Abbott does not create an attorney/client relationship within any state of Federal law.
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I have used the value of intellectual property towards the investment requirement in the past without a problem, so long as we can substantiate the value of the intellectual property. The regulations specifically allow for the use of tangible property to be used, so long as it is owned by the investor. For instance, if you have an investor who invests in the company, and the only asset the business has is the intellectual property and you are the owner of that IP, then you can argue that the IP is worth at least as much as the value of the percentage ownership of company given in exchange for the cash investment. Start up businesses are very common in the Silicon Valley, and so it is not uncommon for this. We represent numerous start up companies with foreign investors, and so we have seen these issues come up fairly regularly.
as far as maintaining 50% ownership, my strategy would be to later place you in H-1B status, if you are eligible once you lose majority ownership 2 years later.
Feel free to contact my office for an appointment to speak with me.
Gabriel D. Jack
Attorney at Law
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Securities / Investment Fraud Attorney
My colleague Rana Jazayerli works on these sorts of matters regularly and can assist. The link to her info is below:
The foregoing is not legal advice nor is it in any manner whatsoever meant to create or impute an attorney/client relationship.
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