E2 Investor Visa. I want to build my social netwrok in the USA.

[mcpmurphy]

Hello, any bit of advice here would be MUCH appreciated

Im an Irish citizen, legally living in NY and planning on changing my J1 visa to an E2 visa.
The new business im starting up is a web business (a social network) that will be developed and managed from the US (AZ) -
The parent has just been registered in Ireland but business will be built and mananged in US (through delaware corp) -

Ive $90k in a loan that will be giving to me by family and friends to invest in my new US business..
A US based investor will initially be investing 80k.

Both sums of money will be held in a US bank account.

There will be no income generated in the first 9months as its a web startup and will be dependent on Ad revenue and membership (after about 9months)

My J1 is not subject to the 2yr rule and will expire in OCT 09
My goal is to begin the transfer of visas in the next 7-9weeks so i can begin building my company in the US asap.

I will also have further outside investment in the company in the region of 100k


*Should i disclose other investment in the pipline?
...or Shares allocated to those investors?

*Do i need a letter from the lender of the $90k to specify the terms under which i am lent that money?

* Ill only be employing US web developers and programmers
- will this be a problem?

* Does anyone recommend i apply for the E2 in Ireland instead of doing it directly from here in the US?

*I gather the processing time is roughly 14wks...
do i have to return to Ireland to collect my new visa?

* If i was to apply for visa from Ireland... how long would the application take?

Any light shed on these areas would be very much appreciated -

Many thanks in advance

Connor

[gkloken]

Originally Posted by mcpmurphy

Hello, any bit of advice here would be MUCH appreciated

Im an Irish citizen, legally living in NY and planning on changing my J1 visa to an E2 visa.
The new business im starting up is a web business (a social network) that will be developed and managed from the US (AZ) -
The parent has just been registered in Ireland but business will be built and mananged in US (through delaware corp) -

Ive $90k in a loan that will be giving to me by family and friends to invest in my new US business..
A US based investor will initially be investing 80k.

Both sums of money will be held in a US bank account.

There will be no income generated in the first 9months as its a web startup and will be dependent on Ad revenue and membership (after about 9months)

My J1 is not subject to the 2yr rule and will expire in OCT 09
My goal is to begin the transfer of visas in the next 7-9weeks so i can begin building my company in the US asap.

I will also have further outside investment in the company in the region of 100k


*Should i disclose other investment in the pipline?
...or Shares allocated to those investors?

*Do i need a letter from the lender of the $90k to specify the terms under which i am lent that money?

* Ill only be employing US web developers and programmers
- will this be a problem?

* Does anyone recommend i apply for the E2 in Ireland instead of doing it directly from here in the US?

*I gather the processing time is roughly 14wks...
do i have to return to Ireland to collect my new visa?

* If i was to apply for visa from Ireland... how long would the application take?

Any light shed on these areas would be very much appreciated -

Many thanks in advance

Connor

I would suggest you contact a professional CPA in AZ.
I can recommend one that also know international taxes and some of the immigration related part too. Contact me direct on here and I will give you the info .

You do not go out you apply and adjust the status here you have been living in the US the previous six months before application.

So no need to return or apply through Ireland. I will say to you what I say to everyone " Stay away from the Embassies /consulates" apply from within the USA .

[Fatbrit]

Originally Posted by gkloken

I would suggest you contact a professional CPA in AZ.
I can recommend one that also know international taxes and some of the immigration related part too. Contact me direct on here and I will give you the info .

I'd be worried about the low level of the investment. He needs, above all else, someone versed in E2 rather than just an accountant.

Originally Posted by gkloken

You do not go out you apply and adjust the status here you have been living in the US the previous six months before application.

Not a necessary condition to adjust status to E2. Although with a J it might be a good idea to inquire about HRR.

Originally Posted by gkloken

So no need to return or apply through Ireland. I will say to you what I say to everyone " Stay away from the Embassies /consulates" apply from within the USA .

And what do you suggest he does if he needs to leave the US?

[Skippy13]

Originally Posted by Fatbrit

I'd be worried about the low level of the investment. He needs, above all else, someone versed in E2 rather than just an accountant.


Not a necessary condition to adjust status to E2. Although with a J it might be a good idea to inquire about HRR.


And what do you suggest he does if he needs to leave the US?

What is the amount of USD necessary for E2? He will have over 200K through investors....is this not enough?

[Fatbrit]

Originally Posted by Skippy13

What is the amount of USD necessary for E2? He will have over 200K through investors....is this not enough?

Yeah -- but it's outside investment that won't count. It has to be his money on the line, not other folk's.

[Skippy13]

Oh I see. How much of his own capital would he need? 150k?

Im curious because I have thought about this route myself

[Fatbrit]

Originally Posted by Skippy13

Oh I see. How much of his own capital would he need? 150k?

Im curious because I have thought about this route myself

I'd say $150k down might be a hard sell out of London. But with a great business plan and a touch of luck, it could fly. Be nearer $250k to be safer.

[Davis1]

Good info about E-2 visa here ...check the FAQ

Hodkinson Law Group - us visa consultancy - us e-2 investor visas - us immigration law

[Skippy13]

Your referring to USD's right FB?

And is there any way the E2 will lead to a GC? I heard something about the PERM process....does this sound familiar?

If I was to go over on an E2, how could I get PR or a GC?

[Davis1]

Originally Posted by Skippy13

Your referring to USD's right FB?

And is there any way the E2 will lead to a GC? I heard something about the PERM process....does this sound familiar?

If I was to go over on an E2, how could I get PR or a GC?

There is no direct route to a GC with an E-2