Job change on L1 visa

[kamlesh1978]

Hello Admin/all,

Below is my situation and need assitance from people

My firm in Singapore and firm in US went for joint venture and form a small firm. I came to US in this firm with L1B visa last year. L1B visa is valid for another year.
Due to internal dispute now they are closing the joint venture now. My questions are

1) What happens to employee on L1Visa if the company closes?
2) company in US wants to retain me with them. If I want to be here, what is the valid/legal approach? Can the US firm sponser/tranfer my current L1 Visa to their firm?
3) If I consider option for H1 , can I apply for change of status from L1 to H1 now at this time immediately or I need to wait till next year quota? if next year, when the procedure starts?
4)Even if I tranfer to US firm on their L1 visa, is it leagaly possible since L1 means inter company tranfer visa and the company from which I am transferred is closed now?
5) Lastly in future for any visa processing ( L1/H1 etc) , at any time, do I need any documents or papers from my firm in Singapore or the closed joint venture firm in US?

Thank you to all for their opinion

Kamal

 

[snugjoint]

1) Will go out of status because the underlying employment no longer exists.
2) Depending on whether or not the "company in the US" has qualifying L-1 relationship with the Singapore company.
3) You need to wait until next quota begins as long as this is going to be your first H-1B ever.
4) Good question. Because of this L-1 won't probably be your practical choice.
5) I can't think of anything that has to be produced now by either one.