Florida is an excellent place for business. Hence, many foreign entrepreneurs want to migrate to America to start a successful business and live the lifetime dream of millions worldwide.
Thankfully, the American Dream is not dead. However, attaining it requires attention to detail and expert legal guidance, especially when selecting which visa option to apply with the United States Citizenship and Immigration Services (USCIS).
In this article, you will find out whether a foreign entrepreneur can migrate to the USA to start a business.
Can You Immigrate to USA to Start a Business? – An Overview
Essentially, there are two types of visas available at USCIS – non-immigrant visas and immigrant visas. As its name suggests, a non-immigrant visa grants only temporary authorization to a foreign individual to enter the United States and engage in the activities allowed by the visa category.
A popular example of a non-immigrant visa for entrepreneurs is the E-2 visa.
Once the temporary visa expires, individuals under non-immigrant status must renew the visa (according to the distinct expiration timeframes and rules for renewal). Depending on the visa type, one may indefinitely renew his or her non-immigrant status.
Additionally, non-immigrant visas have certain restrictions regarding who visa holders may bring to the United States (e.g., spouse, children, etc.) and whether any dependents can work during their stay.
Therefore, under a non-immigrant visa, a foreign entrepreneur must return to his or her home country if the business enterprise fails or if he or she decides to cease the business operations.
Instead, immigrant visas grant lawful permanent residence (green card) to successful applicants, allowing them to reside and work indefinitely in the United States. Ideally, entrepreneurs with long-term business plans should apply for this type of visa.
One of the most popular examples of immigrant visas is the EB-5 program.
Can You Immigrate to USA to Start a Business? – E-2 Non-Immigrant Visa
As provided by the USCIS, the E-2 nonimmigrant visa permits a foreign national of a treaty country to be admitted to the United States upon investing a substantial amount of capital in a US business enterprise.
Therefore, entrepreneurs whose home countries qualify as E-2 countries may enter the United States to start a business.
While there is no preset amount of capital established by USCIS, the federal agency establishes that the applicant must seek to enter the country solely to develop and direct the investment enterprise, demonstrating the enterprise is not marginal.
E2 visa extensions are granted in two-year increments, permitting applicants to indefinitely renew their status.
Can You Immigrate to USA to Start a Business? – EB-5 Immigrant Visa
The EB-5 program is an immigrant investor visa that permits an applicant to enter the United States upon investing the necessary amount in a US commercial enterprise and planning to create or preserve ten full-time jobs for qualified US workers.
Nonetheless, the EB-5 visa has stricter requirements, especially regarding the investment threshold. Currently, the required standard minimum investment amount is $1 million and the minimum investment amount for investment in a Targeted Employment Area (TEA) is $500,000.
If the applicant is willing to invest the necessary amount of capital, the EB-5 visa offers an excellent opportunity not only for them, but also for spouses and unmarried children under 21 to live, work, and study in the United States.
Do You Want to Immigrate to the United States to Start a Business? – Immediately Contact a Skilled Immigration Attorney at Jurado & Associates, P.A
If you want to attain the American Dream, waste no time – contact an experienced immigration attorney from Jurado & Associates, P.A by calling (305) 921-0976 or emailing [email protected] to schedule a consultation.
