You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
if small company is operating in loss, can I get I-140 approved? Thanks!!!
- Thread starter gshyan
- Start date
should not be a problem
I-140 petition requires the employer to provide evidence that they can pay the salary mentioned in the LC in the future There is no mention of profitability as such. Of course if the finances are so bad that the company might actually shut down in near future I guess there could be problems, but otherwise should be okay
I-140 petition requires the employer to provide evidence that they can pay the salary mentioned in the LC in the future There is no mention of profitability as such. Of course if the finances are so bad that the company might actually shut down in near future I guess there could be problems, but otherwise should be okay
It\'s not that simple
The company must show that they are PRESENTLY able to pay the offered wage. INS asks for tax returns and/or audited financial statements from small companys. If the company currently employs the person and can show that they are currently paying the proffered wage, or if the comany has lots of assets that it can liquidate to keep running there is a higher probability of approval than if a small company with few employees is operating at a loss and cannot show where it will get the money to pay the wage offered.
INS officials are not actuaries or accountants and do no have the skills to evaluate a company\'s strength and the probability of continued corporate viability. When they see a negative number on profits they tend to ask questions.
Jim
James D. Mills
Attorney at Law
http://www.geocities.com/jamesdmillsesq
The company must show that they are PRESENTLY able to pay the offered wage. INS asks for tax returns and/or audited financial statements from small companys. If the company currently employs the person and can show that they are currently paying the proffered wage, or if the comany has lots of assets that it can liquidate to keep running there is a higher probability of approval than if a small company with few employees is operating at a loss and cannot show where it will get the money to pay the wage offered.
INS officials are not actuaries or accountants and do no have the skills to evaluate a company\'s strength and the probability of continued corporate viability. When they see a negative number on profits they tend to ask questions.
Jim
James D. Mills
Attorney at Law
http://www.geocities.com/jamesdmillsesq
i don\'t necessarily think thats true
as much as I have seen of the form I-140, there seems to be no need to prove the profitability of the company. it only requires the company to provide evidence that it can pay the promised salary on the labor certification. Even billion dollar companies make losses once in a while and a loss does not mean that a company cannot pay your salary. For example many startups do not make any money in the first 3 years. They survive solely on venture money. However, that does not mean they have no ability to pay.
Anyways, I am in the same boat as you. Will keep you posted
as much as I have seen of the form I-140, there seems to be no need to prove the profitability of the company. it only requires the company to provide evidence that it can pay the promised salary on the labor certification. Even billion dollar companies make losses once in a while and a loss does not mean that a company cannot pay your salary. For example many startups do not make any money in the first 3 years. They survive solely on venture money. However, that does not mean they have no ability to pay.
Anyways, I am in the same boat as you. Will keep you posted
No Title
Mine is also a small company having less than 10 employees. My company is also NOT doing good business having negative profits. Filed my I-140 in the last week of May\'02. Infact, I was working for company \'A\' and got my LC approved from \'A\'. While LC was being processed, company \'A\' got resolved due to unknown reasons ( worst to worst may be \'A\' got bankrupt). The company \'A\' opened a new company \'B\' with same management and different office. Now I-140 is filed from new company (say \'B\'). The attorney took care of \'A\' to \'B\' process. I am not sure whether I-140 filed from \'B\' will come through???? Experts please comment on this.
Mine is also a small company having less than 10 employees. My company is also NOT doing good business having negative profits. Filed my I-140 in the last week of May\'02. Infact, I was working for company \'A\' and got my LC approved from \'A\'. While LC was being processed, company \'A\' got resolved due to unknown reasons ( worst to worst may be \'A\' got bankrupt). The company \'A\' opened a new company \'B\' with same management and different office. Now I-140 is filed from new company (say \'B\'). The attorney took care of \'A\' to \'B\' process. I am not sure whether I-140 filed from \'B\' will come through???? Experts please comment on this.
You are partly right but how do you prove company\'s ability to pay?
You are partly right but how do you prove company\'s ability to pay?
Using pay stubs? or bank statement? or Tax return?
My case not got denied but delayed. The delayed reason is partly because my company is a small company although it is making profits.
INS is very strict on small company (my company has 11 persons)
You are partly right but how do you prove company\'s ability to pay?
Using pay stubs? or bank statement? or Tax return?
My case not got denied but delayed. The delayed reason is partly because my company is a small company although it is making profits.
INS is very strict on small company (my company has 11 persons)
Correct (both of you actually)
A billion dollar company can experience significant losses for years before there is a significant danger that the company will not be able to pay its employees. Billion dollar companys have lots of assets and normally would be able to borrow money if necessary to pay the employees and keep the company running. Small companys do not normally have that capability. If negative numbers are shown, there is a strong possibility of a letter of intent to deny or an RFE. Large coprorations would have little difficulty responding to this, small corporations may be unable to respond adequately and risk denial.
Jim
James D. Mills
Attorney at Law
732-644-5702
http://www.geocities.com/jamesdmillsesq/
A billion dollar company can experience significant losses for years before there is a significant danger that the company will not be able to pay its employees. Billion dollar companys have lots of assets and normally would be able to borrow money if necessary to pay the employees and keep the company running. Small companys do not normally have that capability. If negative numbers are shown, there is a strong possibility of a letter of intent to deny or an RFE. Large coprorations would have little difficulty responding to this, small corporations may be unable to respond adequately and risk denial.
Jim
James D. Mills
Attorney at Law
732-644-5702
http://www.geocities.com/jamesdmillsesq/
indian75250
New Member
Similar situation
Jim,
I am in the same boat as others.My company had a loss last year, but did make profits pervious years.Based on my lawyers advice, i am submitting a letter verifying my company assets and cashflow to pay me.Will INS be satisfied?I will be applying my I-140 shortly.
PS: We are about 20 employees.
Any advice is appreciated.
Thanks
Jim,
I am in the same boat as others.My company had a loss last year, but did make profits pervious years.Based on my lawyers advice, i am submitting a letter verifying my company assets and cashflow to pay me.Will INS be satisfied?I will be applying my I-140 shortly.
PS: We are about 20 employees.
Any advice is appreciated.
Thanks
I just talked about this to my lawyer
I have asked the exact same question. I work for a small company around 10 employees, we let some people go last year, and we are in red as well. I am EB3 non-RIR (FL) btw currently waiting at ATL DOL.
The assistant said that as long I am currently employed (which I am), and as long we can show all my W-2 back to the very recent months we should be OK because the fact that my salary has always been paid is enough evidence that the company can pay my salary.
Well... I hope she was right.
I have asked the exact same question. I work for a small company around 10 employees, we let some people go last year, and we are in red as well. I am EB3 non-RIR (FL) btw currently waiting at ATL DOL.
The assistant said that as long I am currently employed (which I am), and as long we can show all my W-2 back to the very recent months we should be OK because the fact that my salary has always been paid is enough evidence that the company can pay my salary.
Well... I hope she was right.
I tend to agree with your attorney Normann.
The fact that they are paying the salary seems to clearly indicate that they are able to do so. Of course, that assumes that the salary you are getting and the salary on the LC and I-140 are the same. Often, the salary required on the GC is substatntially higher than the salary being paid to the H-1 holder. If that is the case, there are still questions regarding the company\'s ability to pay the higher salary.
Jim
James D. Mills
Attorney at Law
http://www.geocities.com/jamesdmillsesq/
jdmills@justice.com
The fact that they are paying the salary seems to clearly indicate that they are able to do so. Of course, that assumes that the salary you are getting and the salary on the LC and I-140 are the same. Often, the salary required on the GC is substatntially higher than the salary being paid to the H-1 holder. If that is the case, there are still questions regarding the company\'s ability to pay the higher salary.
Jim
James D. Mills
Attorney at Law
http://www.geocities.com/jamesdmillsesq/
jdmills@justice.com
can two companies info be combined?
I work for a small company. actually it has about 30 total employees. however about 20 of them are in an another named company although the management, ownership and address are the same. The company under which name i got my labor approval has now only 10 employees on paper. can i then say on the I140 form that the company has 30 employees or do i need to say only 10. also can i combine the financial information? will appreciate your input.
I work for a small company. actually it has about 30 total employees. however about 20 of them are in an another named company although the management, ownership and address are the same. The company under which name i got my labor approval has now only 10 employees on paper. can i then say on the I140 form that the company has 30 employees or do i need to say only 10. also can i combine the financial information? will appreciate your input.
weilan pokorna
New Member
If my salary is reasonably high, can I get approved?
My company is tiny (5 employees) and in red as well. But my salary on the LC is $71,000, and since we filed LC, it has been raised above that level. What is my odds of getting approved if I only send my W-2 and resent pay stubs with the I140? Is CSC better or worse than any other centers?
Thanks!
My company is tiny (5 employees) and in red as well. But my salary on the LC is $71,000, and since we filed LC, it has been raised above that level. What is my odds of getting approved if I only send my W-2 and resent pay stubs with the I140? Is CSC better or worse than any other centers?
Thanks!