Once the closing takes place, the escrow agent releases the funds from the escrow account to the seller and you can take over control of the business.
The business broker may have secured a period of training detailed in the Asset Purchase contract so that the seller can show you the operation of the business. However, it is advisable to obtain a personal SSN also as soon as possible. Your spouse can apply for a SSN at the same time even before a work permit is granted as their work authorization is incident to status.
Finally, you should also arrange to take your writing and driving test so that you have a valid United States driving license. Some countries have reciprocity with some U. This is because a visa only gives you permission to come to the United States and ask for entry in the particular category of your visa.
The length of time that the visa is valid for is the length of time in which you can leave and re-enter the United States and ask for permission to enter on the particular visa category. For an E2 visa, the customs and border protection officer can only permit you a length of stay in the United States of a maximum period of 2 years. It is extremely important that you never overstay the date on your I card.
You should plan make a trip outside of the U. We suggest a short trip by plane to the Bahamas, Canada or back to your home country. In addition you would have to be admitted on the passport for the country with the treaty of commerce.
In addition, you may not change status from ESTA. The application for E1 or E2 visa at a U. Consulate is often recommended over the change of status since a USCIS approval of change of status to E is only granted for a period of two years and is not valid for travel outside of the United States. If you must travel outside of the U.
Consulate in the country of nationality or residence prior to proceeding back to the U. The E visa category is very different than any other types of visa in that the U. Consulate will not issue an E2 visa based on the USCIS petition approval of E status, but rather, will adjudicate the visa application based on its own merits.
Thus, the visa applicant must present a brand-new visa application package demonstrating that he or she meets the requirements under the law. However, there are instances where a change of status will be preferable or more appropriate. If you need a renewal, please try to contact us well in advance.
The renewal process takes time so contact us at least 6 months in advance of visa expiration. Consulate is often recommended over the latter since a USCIS approval of change of status to E is only granted for a period of two years and is not valid for travel outside of the United States. If one must travel outside of the U. The E visa category is very different than any other type of visa however in that the U.
Consulate will not issue an E2 visa based on the USCIS approval of E status, but rather, will adjudicate the visa application based on its own merits. Thus, the visa applicant must present a brand new visa package demonstrating that he or she meets the requirements under the law. There are instances however where a change of status will be more appropriate or necessary. Further, note that even though the visa applicant may be issued a visa for a maximum period of time, for example, of five 5 years, the authorization of stay into the U.
Such must be done until the E2 visa is close to expiration. When granted, the foreign national can freely work for the newly formed or existing company, or for himself in case of a sole proprietorship. Please note that new businesses based on ownership by nationals of Ecuador can no longer be registered under the E2 visa scheme.
However, Ecuador nationals can still apply for E2 visas as employees of an existing E2 registered business. The unusual requirement for the UK compared to citizens of other Countries is that British citizen investors need to show residence in the UK. This can be a complicated issue to deal with if the E2 investor is currently living abroad.
It may be possible to show residence in the UK by various means:. There is also the issue of how long the E2 visa is valid for. For many Countries it is five years. It is only three months for example for Bangladesh and the Ukraine. The good news is that as long as the E2 business continues in the US you can continue to extend your visa indefinitely.
Investors from qualifying countries may apply for an E2 treaty investor visa in order to 'Direct and Develop' their business. They may also apply for E2 visas for key managerial and specialist employees which can be particularly useful for medium and large size businesses.
In contrast to the L-1 visa, there is no requirement that such employees have worked for the business outside the US for a period of one year in the last three years, and there is no requirement that under the E2 visa scheme that the business continues operating outside the US.
There has been a substantial investment in the US or in some circumstances money is held in escrow to be transferred if the E2 visa is granted. There is no specific investment requirement. Investments could include travel, sales and marketing, equipment purchases and a range of other expenses. However, E2 visa registration with smaller levels of investment can be more difficult. Money has been put at risk for the E2 Treaty Investor business: the investment must entail some risk to the investor it may not be all in the form of unguaranteed credit.
You may need to have an office lease agreement in the US. If you have a purchase agreement and are taking over an existing business, you can instead have money held in escrow. E2 visa treaty investors with the requisite nationality will usually need to have at least a fifty percent ownership and control of the US business. The enterprise is or will be active. In order to be 'Directing and Developing' their investment, the E2 Treaty Investor should be involved in managing the business.
The E2 business should not be considered to be "marginal". US workers are or will be employed. The treaties envisage more than just creating a job for the principal investor, but there is no requirement to employ a particular number of US citizens or residents. It should be possible to meet the requirements by employing only a small number of employees. Showing that you will employ two or three employees in the next one or two years will often be enough.
You should have a business plan detailing the future plans for a new business. This should have detailed information on the new business and the plans to employ new staff in the US. Details of the skills, qualifications, and work history should be provided for any prospective employees of the E2 Treaty Investor, and if appropriate for the investor themselves.
Consulate if the applicant wishes to process outside of the United States to obtain the Visa. Schedule an E2 Consultation Preparing the Application Before an application can be filed, both the applicant and his attorney must perform substantial work to ensure that the petition is in good order.
To be approved, an E2 visa requires that 1 the applicant be a citizen or national of a country that has a commerce and navigation treaty with the United States, 2 he or she make a substantial investment in a commercial enterprise in the United States, 3 he or she have already invested or be in the process of investing, 4 the enterprise be a real, operating, non-marginal commercial enterprise, and 5 the applicant be in a position to develop and direct the enterprise. Working collaboratively with an immigration attorney, it may take anywhere from a couple weeks to several months to put together the necessary documentation and prepare the legal and financial paperwork necessary for the investment prior to filing the application.
In addition, the investment visa lawyer will need additional time to process and finalize the E2 visa application to ensure that it has the highest possible chance of approval. Once complete, the determination with then need to be made as to whether the application should be filed with USCIS or the appropriate U. This is an average processing time, and could increase or decrease based on a number of factors.
However, it is important to note that a change of status within the US will not result in the E2 Visa but, instead, merely E2 status. The status will be valid for two years but if the foreign national wishes to leave the US to travel they will have to apply for a visa from the applicable US Consulate in the future.
Alternatively, if they do not need to travel outside of the US the E2 Status can be renewed every two years providing for continued eligibility. The processing time for an E2 visa varies by Consulate anywhere from about two weeks to four months.
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