I am 43 year old business man,nationality Bangladeshi,including my self my wife and 2 of our children both of them below 10 years old.currently we all are holder of 5 years multiple B1/B2 visa of the USA.i have a first cousin who is a citizen of the US & he has a small grocery shop in Tampa,FL , we going to visit them in the month of October.My cousin is eager to take me as his business partner as 50% share basis.So I am thinking to invest US $-100,000 (One hundred thousand). If I invest 100K is it possible to obtain E2 visa for all of us.Bangladesh has E2 treaty with US I know that.Our plan is to visit there in October then we will back to Bangladesh then we like to move there by obtaining E2 visa from Bangladesh. If our E2 application refused then shall our B1/B2 remain valid or not?
You must be sure to invest a ¨substantial¨amount so that the business is not considered ¨marginal¨. There is no magic set dollar figure that automatically qualifies an investment as ¨substantial¨; this depends, on the size and characteristics of the specific business. The investment amount must satisfy what is known as the ¨proportionality test.¨ I usually counsel my clients to invest a minimum of $150,000 in at-risk funds in a small business, but sometimes less is needed, other times, more.
It makes things easier of you own an at least 51% controlling interest in the business, but there is something called the Negative Control Rule, whereby one can qualify as and E-2 investor where you have 2 (but not more) partners, each owning exactly 50% of the business, each with equal control over the business and equal veto rights. Each owner has the equal capacity to make decisions that are binding on the entity, and each owner retains full management rights and responsibilities. In this Negative Control situation, however, the other 50% owner must be a national of the treaty country.
Your spouse and children under 21 can accompany you or follow to join you, and your wife would be permitted to obtain work authorization.
A denial of the E-2 would not automatically revoke your B1/B2 status, but were you to be denied for the E-2 based on a perceived immigrant intent, for example, this could bring you problems for your B1/B2.
Best of luck to you.
First, you should know that although Bangladesh is a treaty country, part of the Reciprocity deal is that they will not issue U.S. visas for a period longer than 3 MONTHS. So you will need to renew your visa very often. However, you will still be issued a 2 year I-94 upon entry to the U.S. $100K is theoretically enough but it is really the bare minimum. Owning only 50% can be done if you have a proper shareholders agreement that gives you daily control of the business but 51% is a much better way to go. It is very complicated. We submit a few of these a week and most of them are 300-400 pages. NOT something you should do on your own!!
First of all, you must have a substantial amount of money OVER the $100,000 that you can use to live on for at-least 1 year ... you can not use the store to support yourself at first ...that is called a marginal enterprise.
Second, it is best if you own 51%.
Third, $100,000 is the bare-minimum and will only be accepted by the US government if it is appropriate to the overall value of the business (aka: proportionality test) Thus, your cousin needs to pay for a business appraisal that shows it to be worth $200,000.
Fourth, this is quite complicated and requires a good, written, business plan.
Thus, as I hope you can see, you should hire a lawyer to help with the process.
PS Yes, you would apply in Bangladesh at the US Consul and, not, a denial of the E-2 won't necessarily result in the cancellation of the B visa, but it could if you give the Consul reason to think that you aren't being honest ... another reason to hire a lawyer.
There are a number of issues surrounding E-2 visas. Whether $100,000 will be enough of an investment will depend upon different factors including the value of the busness eterprise, how much of the enterprise you will own, and whether it is profitable or not, to name a few. Also, in most instances, the investment must be made prior to your application for an E-2 visa so the risk is great if the visa is refused.
You will best be served by consulting with an immigration attorney who has extensive experience dealing with E-2 visa issues. He or she can explain the ins and outs of a successful application so you do not find yourself disappointed.
Click on the link below for information on E-2 visas and immigration for business investors. Many immigration attorneys will conduct consultations via telephone or Skype for clients outside their local area.
It is recommended that you hire an E2 Lawyer for your matter. More than 50% ownership is often better. The amount of investment will depend on the type of business. There is no strict minimum dollar amount. What type of business will this be? Be prepared for the types of questions asked on each B1/B2 entry and follow the permissible activities on this visa.
You should contact an E2 visa lawyer before coming to the United States. Many offer a free consultation. Sachdev Law PC - Phone: 916-248-6667.
Get free answers from experienced attorneys.
31,203 answers this week
3,155 attorneys answering
Get answers from top-rated lawyers.
31,203 answers this week
3,155 attorneys answering