The United States is a land of opportunity, and for many aspiring entrepreneurs, it’s a dream to establish a business on American soil. What’s even better is that the US offers a variety of visa options specifically designed to attract and retain foreign entrepreneurs who bring innovative ideas and job-creating potential. This comprehensive guide explores five key entrepreneur visas to consider, each with its own requirements and benefits:

1. E-2 Treaty Investor Visa: Invest and Develop Your Business

The E-2 Treaty Investor visa is a popular option for entrepreneurs from countries with a treaty of commerce and navigation with the United States. This visa allows you to live and work in the US while developing and managing a business in which you have invested a substantial amount of capital.

Key Requirements:

• Treaty Country Citizenship: You must be a citizen of a country with a valid E-2 treaty with the United States. A list of qualifying countries can be found on the Department of State website (https://www.state.gov/treaties-in-force/).
• Substantial Investment: The investment amount must be considered “substantial” in relation to the type of business. There’s no fixed minimum, but it should be proportional to the overall business venture. Generally, expect to invest tens of thousands of dollars or more.
• Development of the Business: The E-2 visa requires ongoing development of the business. You must be actively involved in managing and operating the company, and demonstrate its potential for continued growth and job creation.
• Treaty Trader vs. Treaty Investor: The E-2 category has two subcategories: Treaty Investor and Essential Employee. An essential employee is generally a manager or skilled employee who can receive an E-2 after a Treaty Investor has already acquired an E-2 in the same company. However, this article focuses on the Treaty Investor option for entrepreneurs developing a US-based business.

Benefits:

• Relatives Included: The E-2 visa allows you to include your spouse and unmarried children under 21 years old as dependents on your visa application.
• Renewal Potential: E-2 visas are initially issued for two years, but can be renewed indefinitely as long as you continue to meet the eligibility requirements and maintain the business.
• Travel Flexibility: The E-2 visa grants you the freedom to travel outside the US and return as long as your business remains operational. However, the validity duration of the visa varies based on the country of the investor can can vary from 90 days to 5 years. Therefore it’s important to verify this in advance.

Considerations:

• Treaty Requirement: Ensure your home country has a qualifying E-2 treaty with the US.
• Investment Amount: Be prepared to invest a significant amount of capital into your US business.
• Active Involvement: The E-2 visa requires ongoing management and development of your business.

2. L-1 Intracompany Transfer Visa: Leveraging Existing Business Operations

The L-1 Intracompany Transfer visa is designed for employees of multinational companies to transfer to a US branch, subsidiary, or affiliate. This visa can be a valuable option for entrepreneurs who already own and operate a business abroad and want to establish a US presence.

There are two categories within the L-1 visa:

• L-1A Intracompany Executive/Manager: This category applies to executives and managers transferring to oversee and manage a US branch, subsidiary, or affiliate.
• L-1B Intracompany Specialized Knowledge Worker: This category applies to employees with specialized knowledge essential to the efficient operation of a US branch, subsidiary, or affiliate.

Key Requirements (L-1A):

• Qualifying Relationship: The foreign and US entities must have a qualifying relationship, typically involving identical ownership and control structures.
• Executive/Managerial Role: The applicant must hold an executive or managerial position within the foreign company where he worked no less than one year over the past three years and be transferring to a similar role in the US entity.
• Role in the US Business: The applicant must show he will maintain a similar role in the US company, which requires a minimum number of subordinates in the US company which must meet certain requirements in terms of job duties and education.

Key Requirements (L-1B):

• Qualifying Relationship: Similar to L-1A, this category requires a qualifying relationship between the foreign and US entities.
• Specialized Knowledge: The applicant must possess specialized knowledge that is unique to the employer’s industry or operation.
• Essential Employee: The applicant’s knowledge and skills must be essential to the US entity’s operations and not readily available in the US labor market.

Benefits:

• Relatives Included: L-1 visas allow your spouse and unmarried children under 21 years old to reside in the US as dependents.
• Renewal Potential: L-1 visas can be renewed for extensions of stay, with a maximum initial stay of five years for L-1B and seven years for L-1A.
• Immigrant Intent: An L-1 allows one to have immigrant intent, so it can be a bit easier to transition to a green card.

Considerations:

• Qualifying Relationship: Demonstrating a clear and legitimate qualifying relationship between the foreign and US entities is crucial (generally showing that the controlling shareholders of both commons are the same people or entities).
• Specialized Knowledge: The concept of “specialized knowledge” is key for both L-1A and L-1B visas. Simply having experience or good qualifications is not enough. Present evidence that the applicant possesses knowledge and skills specific to the employer’s industry or operation.
• Not a Direct Path to Green Card: While the L-1 visa offers a way to establish a US presence, it’s not a direct path to a green card. Explore other options for permanent residency if that’s your long-term goal.

3. EB-1C Multinational Manager Visa: Leading Your Established Company’s US Operations

The EB-1C Multinational Manager visa is an immigrant visa option for executives and managers transferring to the US to manage or supervise a US branch of a qualifying foreign company. This visa is ideal for entrepreneurs who have already established a successful business abroad and now seek to lead its US expansion. It is often combined with an L-1 visa, since the EB-1c requires the US company to be operating no less than a year. Therefore, during that initial year clients often start with an L-1 visa and then convert to an EB-1c.

Key Requirements:

• Executive/Managerial Role: The applicant must hold an executive or managerial position within the foreign company for at least one year prior to the application.
• Qualifying Foreign Company: The foreign company must have a qualifying relationship with the US entity, typically involving common ownership and control structures.
• Essential Role in US Operations: The applicant must be transferring to a managerial or executive position within the US entity, and their role must be essential for the successful operation of the US branch.
  

Benefits:

• Green Card Option: The EB-1C visa is a direct path to a green card, allowing you to permanently reside and work in the US.
• Relatives Included: Your spouse and unmarried children under 21 years old can also obtain green cards through your EB-1C application.
  

Considerations:

• Strict Requirements: Meeting the eligibility criteria for the EB-1C visa can be challenging. Demonstrating a successful track record as an executive and the essentiality of your role in the US operation is crucial.
• Processing Time: Processing times for EB-1C visas can vary depending on current USCIS workloads, but 45-day premium processing is now available.

4. EB-5 Investment Visa: Investing in US Job Creation

The EB-5 Investment visa is a popular option for foreign investors seeking a green card in exchange for a substantial investment in a US business enterprise. This visa allows you to become a permanent resident and eventually a US citizen by investing in a project that creates or preserves at least ten jobs for US workers.

Key Requirements:

• Investment Amount: The minimum investment amount is currently $800,000 for projects located in Targeted Employment Areas (TEAs), which are areas with high unemployment rates. For projects outside TEAs, the minimum investment is $1,050,000.
• Job Creation: The invested capital must create or preserve at least ten full-time jobs for US workers.
• Passive vs. Active Investment: The EB-5 program offers two investment options: direct investment in a new commercial enterprise or investment in a USCIS-approved regional center project. Regional centers pool investment capital from multiple EB-5 applicants, simplifying the investment process and job creation verification.

Benefits:

• Green Card Option: The EB-5 visa is a direct path to obtaining a green card and eventually US citizenship.
• Relatives Included: Your spouse and unmarried children under 21 years old can also obtain green cards through your EB-5 application.
• Concurrent Adjustment of Status: Under the new EB-5 rules, applicants in the US can file for adjustment of status while awaiting a decision of their EB-5 case, which allows them to live, work and travel before receiving a decision on the EB-5 petition.

Considerations:

• High Investment Amount: The required investment amount is significant and can be a barrier for some entrepreneurs.
• Processing Time: EB-5 visa processing times can vary, and can be lengthy depending on current USCIS workloads. However, expedited processing is now in effect for projects in rural areas. There is no stated period of time for expedited EB-5 processing, but investors in these rural projects generally get approval in under a year or in some cases in a matter of months!
• Passive Investment Option: While regional centers offer a simplified investment process, they may have additional fees associated with their services.

5. EB-2 National Interest Waiver (NIW): Exceptional Ability and US Job Creation

The EB-2 National Interest Waiver (NIW) is an immigrant visa option for foreign nationals with exceptional ability in their field of expertise whose continued presence in the US would benefit the national interest. 

This option can be a valuable path for entrepreneurs who demonstrate exceptional ability and can contribute significantly to the US economy through their endeavor or planned business venture.

Key Requirements:

• Exceptional Ability: You must demonstrate exceptional ability in your field of expertise through extensive documentation such as awards, recognition by peers, patents, or publications.

• National Interest Waiver: You must convince USCIS that your continued presence in the US would benefit the national interest. This can be achieved by demonstrating your business venture’s potential for job creation, contribution to technological advancements, or positive impact on the US economy.
• Job Offer (Potentially Waived): The EB-2 category typically requires a job offer from a US employer. However, the NIW provision allows you to petition for a waiver of the job offer requirement if you can demonstrate that your work is in the national interest.

Benefits:

• Green Card Option: The EB-2 NIW is a direct path to obtaining a green card and eventually US citizenship.
• Flexibility: This option allows you to pursue your entrepreneurial endeavors without a pre-existing job offer in the US.

Considerations:

• High Burden of Proof: Demonstrating exceptional ability and national interest can be challenging. Consult with an immigration attorney experienced in EB-2 NIW cases to build a strong application package.
• Processing Time: Processing times for EB-2 NIW visas can vary depending on USCIS workloads. Since 2023 the wait time (retrogression) has continued to grow, and at the time of this writing it’s well over one year, which should be taken into account by potential applicants.

Choosing the Right Visa: Considerations for Aspiring Entrepreneurs

Choosing the most suitable entrepreneur visa depends on several factors, including:

• Stage of Your Business: Are you launching a new business in the US, or seeking to expand an existing foreign company’s operations?
• Investment Capacity: How much capital are you willing to invest in your US venture?
• Desired Timeline: Do you need a faster path to a green card, or are you comfortable with a temporary visa initially?
• Your Expertise: Do you qualify as an executive/manager, or do you possess exceptional ability in your field?

Consulting with an experienced immigration attorney is highly recommended. They can assess your individual circumstances, analyze your eligibility for different visa categories, and guide you through the application process. Moreover, an experienced attorney can advise on how to best combine two or more visa options to help you achieve your goal. For example, how to combine a non-immigrant visa (which generally are processed relatively quickly) with a more long-term immigrant option which would provide a green card but requires more time. The required steps and their order are critical, since making mistakes along the way might not only create short-term problems but jeopardize your ability to acquire long-term residency.

With careful planning, the right visa option, and strong legal support, you can turn your entrepreneurial dream into a reality in the US.

Dreaming of living in the US? Our experienced immigration attorneys in Miami can provide legal assistance in your entrepreneur visa application and turn your immigration vision to reality!