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E2 - Company ownership %
- Thread starter misra97
- Start date
uktousa2007
Registered Users (C)
% ownership
Hello
I am not totally sure on this but if it helps my husband is about to apply for adjustment from J1 to E2 within the US with a start up business with two other partners - as far as I am aware he has to be 51% owner of the company
Hello
I am not totally sure on this but if it helps my husband is about to apply for adjustment from J1 to E2 within the US with a start up business with two other partners - as far as I am aware he has to be 51% owner of the company
thevisaexpert
Registered Users (C)
misra97 said:Can I apply for E-2 as principal investor if my spouse and I jointly own a company? Actually, my spouse would need E2 dependent and later on EAD. Just want to make sure of the %ownership before I register the company. Should I go 100/0% or any % would not matter.
Principal Investor must own 51% of shares to be on safe side. Who will own the other 49%? Your spouse? If so, then he/she could become either an E-2 manager/skilled worker if qualified or he/she could obtain EAD through you as the spouse of E-2 holder.
thevisaexpert
Registered Users (C)
Your spouse should wait for your approval before sending her application for EAD. Are you using an attorney for your application?
susan ward
Banned
Hi
Good thinking on your part to ask the question before you go ahead.
You should both have a E visa in your own right, as if you purchase a business or set up one in the husbands name and wife as dependant then if husband passes away the wife can inherit the business but not husbands E visa
In this case the day the husband passes away the dependant visa is cancelled
Good thinking on your part to ask the question before you go ahead.
You should both have a E visa in your own right, as if you purchase a business or set up one in the husbands name and wife as dependant then if husband passes away the wife can inherit the business but not husbands E visa
In this case the day the husband passes away the dependant visa is cancelled
I have not yet decided. The problem is day care set up takes 18-24 months. I am signing the franchise agreement and paying around $100K with escrow clause but not into escrow account. I am not sure when to start E-2. I've read after lease signing somewhere. We will sign a 15 year lease backed by corporate guarantee.
thevisaexpert
Registered Users (C)
Sounds like a good solid investment. The business should be set up and the lease signed before applying. Are you leasing a building that is already built? If not, that may pose a problem. You also mention that you are paying 100k escrow but that it is not going into an escrow account. You may want to cover yourself just in case your E-2 is not approved. You don't want to be stuck for such a large investment.
susan ward
Banned
misra97 said:I have not yet decided. The problem is day care set up takes 18-24 months. I am signing the franchise agreement and paying around $100K with escrow clause but not into escrow account. I am not sure when to start E-2. I've read after lease signing somewhere. We will sign a 15 year lease backed by corporate guarantee.
Hi
Be very careful, Not sure where you are from or where you wish to start up but the American embassy in London are not looking to approve E visa applications with such a minimal investment,. they are now looking for around the $250,000 mark
You may wish to check out a couple of scams that have been reported on www.expatsvoice.org
Only put money in YOUR attornies escrow account ! not theirs ! subject to E visa approval
The worrying thing is the embassy, wants to see financial comitment so you could end up closing on a biz but no visa approval, just be very careful
It is possible to have a start up biz on E visa, and if you do at least you have more control of your destiny.
Please only use a qualified attorney and check out they are a member of www.aila.org
There have been too many victims of scams lately and would hate for you to be added to the list
thevisaexpert said:Sounds like a good solid investment. The business should be set up and the lease signed before applying. Are you leasing a building that is already built? If not, that may pose a problem. You also mention that you are paying 100k escrow but that it is not going into an escrow account. You may want to cover yourself just in case your E-2 is not approved. You don't want to be stuck for such a large investment.
But how do I protect myself. What do you mean escrow and not escrow account. Please elaborate?
thevisaexpert said:Your spouse should wait for your approval before sending her application for EAD. Are you using an attorney for your application?
Yes for EAD but my question is should I file E2 principal and E2 derivative visa applications at the same time? By the way, I live in Toronto and would be filing my application here. I have a solid business plan, proforma's etc done.
thevisaexpert
Registered Users (C)
Yes, you should file for E2 derivative for your dependents at same time.
And please make sure your attorney, if you are using one...which I highly recommend, is a member of AILA as Susan Ward mentioned. Even if you already have everything ready for the filing, I would still recommend using a qualified attorney to make the final application package. Not only do I feel it gives the application more credibility, but there are also many holes in applications that can only be caught by an experienced attorney.
And please make sure your attorney, if you are using one...which I highly recommend, is a member of AILA as Susan Ward mentioned. Even if you already have everything ready for the filing, I would still recommend using a qualified attorney to make the final application package. Not only do I feel it gives the application more credibility, but there are also many holes in applications that can only be caught by an experienced attorney.