GC- PERM-Small Company-Info Needed

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DesiPERM

Registered Users (C)
Hi all,
I'm completing 3 years of my H1 by this December.Current employer has around 200 employees.I'm planning to change to my friend's company .This company was started in February 2006 and currently has 10 employees.I'm planning to move to this company in February 2007 and apply for GC (mine will be the first GC application through this company) in May 2007 by then I will have Bachelors in Technology and 5 years 10 months experience.By the time I join/apply for GC, this company will for sure have 15 employees atleast.
My question is how will the GC Process be with this Company. Am I taking a good decision in moving to this company?
Are there any special requirements for a company to file GC?
when can this new company starting filing for Green Cards?
I'm all confused.
Please suggest me on the GC process with this company.

Thank you all in advance.
 
Unless your friend's company shows verifiable profit for last 3 years, your GC can not be approved.


DesiPERM said:
Hi all,
I'm completing 3 years of my H1 by this December.Current employer has around 200 employees.I'm planning to change to my friend's company .This company was started in February 2006 and currently has 10 employees.I'm planning to move to this company in February 2007 and apply for GC (mine will be the first GC application through this company) in May 2007 by then I will have Bachelors in Technology and 5 years 10 months experience.By the time I join/apply for GC, this company will for sure have 15 employees atleast.
My question is how will the GC Process be with this Company. Am I taking a good decision in moving to this company?
Are there any special requirements for a company to file GC?
when can this new company starting filing for Green Cards?
I'm all confused.
Please suggest me on the GC process with this company.

Thank you all in advance.
Click to expand...
 
great guru said:
Unless your friend's company shows verifiable profit for last 3 years, your GC can not be approved.
Click to expand...

Hi Great Guru,
Thanks for the reply. This company was started in February 2006. I'm planning to move to this company in Februaru 2007 which will be one year for the company. So, do I have to wait for 2 more years to file for GC with this company????
I wanted to know when can this company apply for GC for me.

Please let me know.
Your help is appreciated.
 
USCIS is looking for atleast 3 years audited financial statement which shows profit to approve your I 140. If there is no profit, you will not able to get your I 140 approved even after 5 years staying with a new or an old company.



DesiPERM said:
Hi Great Guru,
Thanks for the reply. This company was started in February 2006. I'm planning to move to this company in Februaru 2007 which will be one year for the company. So, do I have to wait for 2 more years to file for GC with this company????
I wanted to know when can this company apply for GC for me.

Please let me know.
Your help is appreciated.
Click to expand...
 
Start-ups etc

But greatguru, if what you say is true then employees at most tech companies, biotech companies, etc would not be eligible for I-140. Is there a specific regulation you know of that establishes this criterion?

thanks
 
yes, I thought that the companies have to prove that they are paying the prevailing wage from the time of filing through the 485 adjudication? I thought the only time audited financial statements have to be provided is when the company is NOT paying the prevailing wage?
 
tariqk said:
But greatguru, if what you say is true then employees at most tech companies, biotech companies, etc would not be eligible for I-140.

You are wrong. If Tech companies or bio tech companies provides 3 years financial statement with profit they all eligible to get I 140 approved with out any problem.

Is there a specific regulation you know of that establishes this criterion?

thanks
Click to expand...
 
Prevailing wage does not come in to play very much in I 140 stage, pevailing wage/Lay off verification is done by DOL at the stage of PERM LC stage.

I 140/485 stage USCIS is verifying employer credentials (Finances/lay offs) before approving I 140/485.
j0emV said:
yes, I thought that the companies have to prove that they are paying the prevailing wage from the time of filing through the 485 adjudication? I thought the only time audited financial statements have to be provided is when the company is NOT paying the prevailing wage?
Click to expand...
 
great guru said:
USCIS is looking for atleast 3 years audited financial statement which shows profit to approve your I 140. If there is no profit, you will not able to get your I 140 approved even after 5 years staying with a new or an old company.
Click to expand...

Thank you guru,
His company can show profit every year and can pay the wages. I dont know much about the GC process and my question is when can this company file for my Labor if I join this company in February 2007 ( by then it will be one year old).
Can this company file for my Labor in May 2007??
He can show profits and can pay wages.

Appreciate your help.
 
Labor can be filed even one day old company provided they have state employer identification and Federal tax identification number.
Also they must have paid state payroll tax



DesiPERM said:
Thank you guru,
His company can show profit every year and can pay the wages. I dont know much about the GC process and my question is when can this company file for my Labor if I join this company in February 2007 ( by then it will be one year old).
Can this company file for my Labor in May 2007??
He can show profits and can pay wages.

Appreciate your help.
Click to expand...
 
The case will probably receive an RFE (Request for Additional Evidence) at the I-140 level. The most prominent reason for I-140 denials is "ability to pay." As long as your company can evidence that they have enough extra funds to pay you the prevailing wage, you should be OK.
 
st4rguitar said:
The case will probably receive an RFE (Request for Additional Evidence) at the I-140 level. The most prominent reason for I-140 denials is "ability to pay." As long as your company can evidence that they have enough extra funds to pay you the prevailing wage, you should be OK.
Click to expand...

Thanks. This is my best friend's company and is growing . Started in Feb 2007 and has 11 employees now.As I told earlier, by the time I file GC , there will be atleast 15 (expecting even more) and can show profits and can pay all the employees.
Thank you all for your inputs.
 
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