BUSINESS VISAS FOR EXECUTIVES AND MANAGERS: COMPARISON OF L-1 AND EB-1C
A business visa to the USA is an excellent option for executives and top managers who are ready to move to America and take over the management of a branch or affiliated company. There are two options available to foreigners: L-1 and EB-1c, which entitle them to temporary or permanent residence in the country, respectively. In this article we will compare the requirements for obtaining a business visa to the USA, tell you about their advantages and pitfalls.
Benefits of L-1 Visa
Every day more and more entrepreneurs are thinking about how to get a business visa to the USA. The easiest solution is to apply for a non-immigrant L-1 visa, which has the following advantages:
- fast consideration of the petition (on average 4-6 months, on an expedited application from 15 days);
- minimum investment amount (about $200,000);
- possibility to obtain visas for the whole family (including minor children under 21);
- possibility to switch to EB-1c (if the U.S. company reaches the established indicators).
Benefits of EB-1c Visa
As for the benefits of EB-1c, there are several reasons to get this type of business visa to America:
- processing a green card for all family members;
- purchase of an already operating business;
- lower amount of required investments (compared to EB-5 program).
Who can get a business visa to the USA?
Please note that a business visa can be obtained by a founder or an employee who intends to work in a U.S. company and has at least one year of experience in this position (for the last 3 years) in a foreign company that sends him to the United States.
What visa to choose?
| L-1 | EB-1c | |
| Visa type | Non-immigrant* | Immigration |
| Visa period |
Issued:
|
Green card and the possibility to apply for citizenship after 5 years |
| Staff of the foreign company | Minimum 8 employees | Minimum of 8 employees (having 10 employees increases the chances of petition approval) |
| Term of existence of the foreign company | During the validity of the visa | Until the foreign national receives a green card |
| The US company's staff | 5-7 employees in the first year when setting up a new business under a 2-3 level management system | At least 10 employees with 2-3 level management system |
| Investing in a company in the US | Prescribed in the business plan and recommended from $200,000 or more | Investment refers to the amount spent to purchase the company (about $500,000)*** |
| The financial condition of the US company | No requirements | It is recommended that the net annual income exceed $70,000 |
| Term of existence of the US company | Operating or new business | A business that has been in operation for at least 1 year (i.e. you cannot register a new company) |
* The L-1 nonimmigrant business visa to America entitles you to upgrade to the EB-1c category and subsequently obtain a green card if several conditions are met:
- having 10 or more employees on staff;
- a minimum of 1 year of active company operations;
- net annual revenues in excess of $70,000.