L1 Visa Helpful Business Types
Posted on November 06, 2007 by Warren Wen | Category: Immigration
Most Helpful Business Types for L Visa Applications
Mr. Yang asked:
I am a businessman in Korea and I own two companies. One is in the business of exporting textiles, and the other is involved with waste recycling. Both of them are doing well in Korea. Now, I want to immigrate to the US so that my son can get better education in the US. Some of my friends suggested that I apply for an L visa. They told me that with an L visa, not only will my son be able to attend public schools freely, but I can also continue doing my business in the US. Moreover, I was told that compared to the EB-5 investment visa, the L visa is a better choice. In order to satisfy the requirements for the L visa, I need to incorporate or purchase an existing business in the US. Since currently I have two types of business in Korea, I want to know which line of business I should do in the US to help my L visa and green card applications.
Answer:
As we mentioned in previous articles, foreign investors who want to apply for L visas without existing US branches or subsidiaries need to incorporate or purchase a company in the US. As far as the minimum investment amount, it depends upon the type of business investors will deal with in the US. Moreover, for those investors who want to apply for green cards, it is very important to have the business do well to benefit the US economy.
Traditionally, most of the investors from Korea are either in the exporting business or are looking to buy restaurants, bakery stores or dry cleaning business in the US. In your situation, you mentioned that your have two lines of business. One is exporting textiles, and the other a recycling business. The textile exporting business is the typical traditional business, and fewer and fewer Koreans are doing this type of business.
Regarding recycling business, it is quite different, especially in recent years. The US is a country with a lot of natural resources and it has a comprehensive waste collection system. Due to the rapid rise of commodity prices, more and more companies are rushing to get into the recycling business and a lot of them have been doing very well with this business, especially those investors who have good marketing channels in Korea. If your recycling business is well established in Korea, you may want to expand your recycling business from Korea to the US for an L visa.
This article is only for your reference. Please do not apply mechanically to any exact cases. You are welcome to consult our attorneys at Liu & Associates, P.C. For contact information, please click here.