Using A21 to switch to startup company

M

Myxa

Registered Users (C)
Hi,

This is my first post to the forum, although I was watching forum quite a while
and found it very useful.

Here is my info:

WAC-02-066*****, EB-3
ND: 12/17/01
FP: 05/31/02
2nd EAD: 04/14/03

No RFEs yet, but according to Kashmir's posts there is some possibility
of receiving RFE in near future (I hope :) ).

I am currently working in company A, 180 days are passed since I485 submission
and I have EAD on my hand. Company A closing it's office and I want to switch to company B.
B is startup company, and it is waiting for next round of funding coming in couple of months.
B is ready to offer me position with salary > LC, but unfortunately they cannot pay me until they will
receive funding. They giving me two choices though. First work as contractor (not a full time position),
and receive stock options and second one full time position, but receive deferred payment
(possible in company stocks). Basically, I am worrying about receiving RFE before B could start paying me.

My understanding that first option not going to work, because LC filled as full time position.
What about differed payment? Do you thing INS can accept differed payment stubs as proof
of income? B is agreed to provide EVL specifying full time position and full salary.

I appreciate your response/comments.
 
Myxa, considering that you are 02-66, that is pretty close to approval. I'd say maintain a steady pace of paychecks if you can ..

I mean it's a risk, use your judgement, but I wouldn't compromise on a steady pace of paychecks for some extra money .. once you get your GC earn the money then
 
Myxa,

you are talking about undertaking a huge risk (and I mean HUGE). INS will require a solid proof that the startup company in question in fact can sponsor your Green Card and provide you with the promised salary. Generally, it can be done by showing a steady profit for at least two past years, promising contracts, or a nice fat investment of a couple of millions.

It is certainly not impossible and I have heard stories when startups were hiring H-1B's and L-1's. But INS will shove a microscope up your arse.

BTW, if you are planning to have a personal involvement as a startup company co-founder, then just forget about it.
 
Personal Involvement

That needs an investor Visa. You need to invest atleast 1 million dollars, none of which can be loan, employing atleast 10 US citizens. That way you can file your 485 direct.

This is employment based, don't mix them.
 
Silly Man and BitterMan,

Thank you for your comments. I greatly appreciate it.
Certainly, my goal is not to invest in company as co-founder and it is not about extra money.
Just present company is closing it's location, so either I have to quit or relocate (which I do not want).
But you are right, it is a risk, and I just wanted to see if somebody had similar experience.

Another question, do you think in my case (WAC-02-066) I should expect RFE in 1-3 month?

Thanks.
Myxa
 
Re: Personal Involvement

Originally posted by Silly Man
That needs an investor Visa. You need to invest atleast 1 million dollars, none of which can be loan, employing atleast 10 US citizens. That way you can file your 485 direct.

This is employment based, don't mix them.
Click to expand...

I was talking about something different. It would be a perfect loophole, if a person could create a company, which would sponsor that person's Employment-based Green Card. In reality, INS will not allow that and ultimately deny the AOS petition.

Originally posted by Myxa
Just present company is closing it's location, so either I have to quit or relocate (which I do not want).
Click to expand...

The best bet in your situation would be to try and find a new job with a well-established company in the same geographical location (MSA), using AC21. While the "same geographical location" is still a tentative requirement, we expect a new regulation (or at least a precedent) coming out, which would clarify it.
 
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