Immigration to the U.S. through Investment

1. Immigration to the U.S. through Investment Ksenia A. Maiorova, Esq. Managing Partner, Maiorova Law Group, PLLC www.kmimmigration.com Orlando: (407)705-3345 Miami: (305)239-9311

2. Ways to Immigrate to the United States • Family Immigration • Employment Immigration • Asylum • Diversity Visa Lottery • Extraordinary Ability • Investment

3. Immigration Options for Investors • L-1A visa for Management/Executive level or “Specialized Knowledge” transferees • E1/E2 visa for treaty traders and treaty investors • EB-5 visa – the “million dollar green card”

4. What is the L-1 Visa? • Non-immigrant visa (does not immediately accord permanent residency) • Designed to transfer key personnel either • within a company that has both U.S. and foreign offices; or • between a foreign company and an “affiliate” entity in the U.S.

5. L-1 Requirements • Transferee must be either a Manager or Executive (L1-A visa) or have worked in a “Specialized Knowledge Capacity” in the foreign company (L1-B visa) • U.S. company to which the person is being transferred must be a subsidiary, branch, affiliate or joint venture partner of the foreign company • Transferee must have been employed for a minimum of 1 of the last 3 years by the foreign entity as an Executive/Manager or in a “Specialized Knowledge Capacity”

6. L-1 Privileges • Legally work in the United States for L-1 sponsor (does not have to be in the same capacity as in the company abroad) • Travel in and out of the United States • Bring spouse and children under 21 to the U.S. • Spouse (but not children) may work in the U.S.

7. L-1 to Green Card • Managers and Executives in L-1 status may apply for Permanent Resident Status (“Green Card”) after one year • Green Card available to L-1 transferee and spouse and children under 21

8. Advantages of L-1 • Managers/Executives can apply for Permanent Resident status after 1 year in L-1 status • No minimum investment requirement • If green card is granted, it is NOT a conditional green card • No need to go through difficult Labor Certification process to obtain green card

9. Disadvantages of L-1 • No path to green card for Specialized Knowledge transferees • Limited duration status • 7 years for Managers/Executives • 5 years for Specialized Knowledge • Must have own business, or be employed by business willing to transfer

10. E-Visas • Only available to citizens of certain countries • Full list available on Department of State website, at: http://travel.state.gov/content/visas/en/fees/treaty.html • Tip: check spouse’s country of residence for eligibility • Two subtypes: • E-1 for treaty traders • E-2 for treaty investors

11. Treaty Trader vs. Treaty Investor • E-1 Visa – Treaty Trader • Available to nationals of certain countries who come to the U.S. to engage in “substantial trade” between the treaty country and the U.S. • E-2 Visa – Treaty Investor • Develop and direct the operations of an enterprise in which investor has invested/is actively in the process of investing a substantial amount of capital

12. Advantages of E-1/E-2 • No minimum investment amount • relatively small investment amount can qualify under certain circumstances • Renewable indefinitely as long as the business is operating • Spouse gets unrestricted Employment Authorization • Spouses and children under 21 may attend school

13. Disadvantages of E-1/E-2 • Not every country has a qualifying treaty • No direct path to a green card • No protections for children who reach the age of 21

14. Basic EB-5 Requirements • Invested or actively in process of investing • $500k in a rural area or targeted economic area • Otherwise, investment min. is $1M • Funds must be “at risk” • Creating 10 full time jobs (35 hours per week) • direct job creation • Through RC’s, indirect job creation using reliable economic modeling methodology

15. Regional Centers • Must be approved by the USCIS • Approval of center does not guarantee approval of petitions or ROI • Variety of projects available • Advantages: • (usually) reduced investment amount, plus no day-to-day management of business • Investor and family can live and work anywhere • Indirect job creation

16. Regional Centers • Must be approved by the USCIS • Approval of center does not guarantee approval of petitions or ROI • Variety of projects available • Advantages: • (usually) reduced investment amount, plus no day-to-day management of business • Investor and family can live and work anywhere • Indirect job creation

17. Disadvantages of EB-5 • Relatively high investment amount • Investment does not guarantee a specific ROI • Risk of loss of initial capital investment – invested funds must be “at risk” • No guarantee that investor will receive conditional or permanent green card

18. Qualified Professional Assistance • Investor should engage advisors • Financial Advisor – ROI, exit strategy, business sensibility of investment • Business plan writer with experience writing business plans for immigration • Tax Advisor • Immigration Attorney – not notary, document preparer, “consultant”, or any other non-lawyer