L-1

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L-1 Visa Investment Program

L-1 Visa (not a Green Card)

L-1 visas are also known as intracompany transfer visas. They are used when there is an ongoing business outside of the US and the person either starts or buys a business in the US (much the same way as the E-2 investor must invest in a business or start a new one in the United States). With an L-1 visa, the owner and/or members of the management team may be transferred to the United States to the US business. The business in the US does not have to be the same type of business but it just has to have the same ownership and control.

Who qualifies?

	Owner
	Head of a company or division
	Employee with “exceptional ability”

What are the requirements?

	A foreign company opens a new business or purchases an existing business in the Unites States (does not have to be in the same line of business as the foreign company)
	No minimum investment is required. Foreign company must commit as much capital as will be required to execute the business plan
	The applicant is the owner, company or division head or an employee with exceptional ability of the foreign company and has worked for the foreign company for at least one year in the most recent three year period
	U.S. sponsoring company must be a “Qualifying Organization:” U.S. company is parent, child, sister company to foreign company
	U.S. company and foreign company must be under common control (50% ownership)
	Duties of the applicant in the U.S.: Managing organization, department, subdivision, function or component; Supervising and controlling the work of other managers, or managing an essential function within the organization or department or subdivision of the organization; the authority to hire and fire personnel; exercising direction over day to day operations
	No minimum educational requirement; applicant does not have to be a college graduate, but must be a successful person in his own country

What must be done to obtain the visa?

	Set up new company in the United States (corporation or limited liability company (LLC))
	Or buy an existing business
	Rent or buy offices premises for the business
	Obtain insurance
	Put together business plan and begin to execute
	Hire consultants and employees
	File the application for the Visa

How long does it take to get the visa?

	2-3 months to preparing the applications, set up or buy the company and gather documents
	30-45 days to process the application if use Premium Processing

How long does the visa last?

First visa is for one year and can be renewed for additional 2 year periods up to a total of 7 years.

When do I get my green card?

The L-1 itself does not give you a green card, but after you have been in the U.S. for 2-3 years, you can file to "adjust” your status if your business is doing well. It will take about one year after that to get your green card.

What documents do I need to have to start the application?

Documents From US Company

1. Article of incorporation or association
2. Application for tax identification number
3. Stock Certificates
4. Lease of business location
5. Bank statement or wire transfer evidencing initial investment
6. Audited accounting reports[1]
7. Corporate income tax return form 1120
8. Employer’s quarterly report form 941
9. Description of company business
10. Commercial contracts, invoices, bills of lading, letters of credit etc.
11. Bank statements
12. Company letterhead
13. Company structure, plan of employing new employees
14. Pictures of main office
15. Letter from US employer
    1. applicant’s prior duties abroad and duties to be performed in US
    2. prove entities are qualifying organizations
    3. submitted by both foreign and us entities
    4. confirm applicant met one year in three years requirement

Documents From Foreign Company

1. Business license
2. Article of incorporation
3. Income tax filings for the past three years
4. Audited accounting reports[2]
5. Organizational chart, total number of employees, position held by the transferee
6. Company brochure or product introduction
7. Documents of business transactions[3]
8. Bank statements, or transactional records
9. Company letterhead with company logo, name and address (several sheets)
10. Pictures of company’s main office, factories or buildings

Documents From Applicant

1. Resume
2. Diploma (if any)
3. Employment verification letter from foreign company
4. Board resolution or appointment documents verifying the transfer
5. Any other documents showing transferee’s capability to conduct business in the executive position
   _______________________________
   [1] Balance sheets, profit/loss statements, cash flow reports
   [2] Balance sheets, profit/loss statements, cash flow reports
   [3] Contracts, bills of lading, letters of credit

How much does it cost?

Fees for the visa application:

	$185 for I-129L
	$500 Fraud Prevention and Detection fee
	$1,000 Premium Processing

Professional fees vary from project to project and will be quoted on an individual basis.

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MyRealEstateHq.com is the official web site of Prominence Capital Advisors, LLC and is in no way affiliated with any other entity mentioned on this site. Nick Zigic, license #01436050, an officer of Prominence Capital Advisors, LLC, is a California licensed real estate broker.