One of the most commonly asked questions from E-2 visa applicants is whether or not it can be converted to a Green card. The answer is yes it can be. Here is a brief explanation of steps you can take to do so.
Convert Your E2 Visa to Green Card.
To obtain a green card, you will have to convert your E2 visa to an immigrant visa category. Immigrant visas are classified into many other categories as well. Here we will discuss 5 ways/processes for the conversion of your E2 visa to a green card:
- EB-5 Visa
- Company Sponsored Green Card
- EB1A Visa if You are having an Extraordinary Ability
- National Interest Waiver
- Marriage-Based Green Card
EB-5 Visa
The EB-5 Visa is an immigrant visa for investors. With an EB-5 visa, you are eligible to get a green card for yourself, your spouse, and your unmarried children under 21 years old. To get an EB-5 visa, you are required to invest a minimum of $1,800,000 in a US business. If the business is located in an economically depressed area classified as a “target employment area” you may be eligible to invest a reduced amount of $900,000. In addition, the US business must create 10 full-time jobs as a result of your investment. The EB-5 visa is very similar to the E2 visa. Yet, there are many key differences. Both the E2 visa and the EB-5 visa are investment-based visas. Because of their similarities, converting your E2 visa to an EB-5 visa is one of the most straightforward and natural ways to go from an E2 visa to a green card.
There are 6 basic requirements to get an EB-5 visa:
- Invest in a New Commercial Enterprise
- Invest a Minimum of $1,800,000 (or $900,000 for Targeted Employment Areas)
- Create 10 Full-Time Jobs for US Workers
- Lawful Source of Funds
- Funds Must be “At-Risk”
- Engage in the Management of the New Commercial Enterprise
Invest in a New Commercial Enterprise
You must invest in a “new business venture” to qualify for an EB-5 visa. A for-profit company engaged in lawful activities that were established after November 29, 1990, is referred to as a new commercial entity. You have a few alternatives for establishing your EB-5 investment if you have an E2 visa. One can:
- Increase your investment in your E2 business to qualify for an EB-5
- Invest in an existing business other than your E2 company
- Invest in a Regional Centre
Investing more money in your E2 firm is one of the easiest ways to go from an E2 visa to a green card. This is because you are probably already quite comfortable with running your E2 firm, and there are special benefits to using your E2 business as your future EB-5 business (we will discuss these advantages below). However, there can be reasons why you don’t want to put more money into your E2 company. You might wish to consider funding a regional centre than investing in your E2 company. A regional centre is a company that has been permitted by USCIS to raise funds from
numerous investors to construct a significant project. Regional hubs construct significant projects, including resorts and office buildings. You won’t be involved much in the management of the company if you invest in a regional hub. With regional centres, the day-to-day management is often handled by a managing partner or managing member. The most you can do as an investor is cast a vote when important choices are being made.
Invest a Minimum of $1,800,000 (or $900,000 for Targeted Employment Areas)
To get an EB-5 visa, you must invest a minimum of $1,800,000 in a US business. This amount may be lowered to $900,000 if you invest in a “targeted employment area.” A targeted employment area is either an area of high unemployment or a rural area.
Beneath benefit of investing Additional Capital in Your E2 Company to Get an EB-5 Visa
The minimal investment amount is one of the key advantages of investing more money in your E2 business to obtain an EB-5 visa. The amount of your initial investment to obtain an E2 visa and all subsequent capital investments into the firm may contribute toward the required investment amount to obtain an EB-5 visa if you decide to invest in your E2 business to obtain an EB-5 visa. The $100,000 you initially invested in your E2 company to obtain your E2 visa therefore to contribute toward your EB-5 minimum investment is required.
Example:
- Initial Investment in E2 business: $100,000
- Minimum Investment Amount for EB-5 Visa: $1,800,000
- Current Total Required Investment for EB-5 visa: $1,800,000 – $100,000 = $1,700,000 Important Note:
Retained profits are not included in your EB-5 investment. Your EB-5 investment does not include any earnings from your E2 firm that is currently in your operating account. Business earnings must be taken out of the company and reinvested in the E2 company for them to be considered as part of your EB-5 investment. This is absurd from a financial standpoint. However, it is necessary for immigration purposes.
One important consideration will be whether your E2 company is located in a targeted employment area or not. Ideally, your E2 business should be situated in a targeted employment area to be eligible for a reduced investment. This would enable the lower $900,000 minimum investment requirement. If the E2 business is not located in a targeted employment area, your minimum investment amount will likely be $1,800,000, assuming that you will invest in your E2 company. By relocating your E2 business to a targeted employment region, you might still be able to get the lower investment amount.
You can still be eligible for the lower investment amount if you decide to invest in a regional center, a new firm, or an existing company that isn’t an E2 company if it’s situated in a targeted employment area. Be sure to consult with an immigration lawyer before making any investment decisions. They can help you determine if the area you are considering investing in qualifies as a targeted employment area.
Create 10 Full-Time Jobs for US Workers
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- You must create 10 full-time jobs for qualified US citizens to qualify for an EB-5
- A full week of work entails at least 35 hours
- US citizens, legal permanent residents, and other foreign nationals who are entitled to work for your business are all considered qualified US
- Non-immigrants are ineligible for the 10
- The 10 jobs do not include your spouse or
Benefit Investing in Your E2 Company to Get an EB-5 Visa
The positions you already established through your initial E2 investment may count toward the 10 jobs you are required to create, which is another advantage of investing in your E2 firm to obtain an EB-5 visa. Therefore, if your E2 business has previously hired 5 US workers who qualify, you may only need to hire 5 more workers to obtain your EB-5 visa.
Lawful Source of Funds
To get an EB-5 visa, your funds must come from a lawful source. Your funds cannot be derived from any illegal activity.
Examples of lawful sources of funds are:
- Income from lawful employment
- Income from the sale of a property
- Income from the sale of a business
- A gift
- A loan
Your funds must also originate from a legal source if you have an E2 visa. However, the EB-5 visa’s source of funds criteria is more rigid than the E2 visa’s requirement. Make important to speak with an immigration attorney if you intend to convert your E2 visa to an EB-5 visa. They will support your strategy for proving the legitimacy of your funding. A comprehensive list of the papers that must be submitted with your EB-5 petition will also be given to you by them.
Funds Must be At-Risk
Similar to the E2 visa, you need to put your investment money “at risk” to qualify for an EB-5 visa. This implies that there must be a risk of gain or loss for your funds. The investment money cannot be kept as reserves in a bank account. The money must be used for the business.
Engage in the Management of the New Commercial Enterprise
To get an EB-5 visa, you are required to “engage in the management” of the new commercial enterprise.
You can satisfy this requirement by:
- Handling the day-to-day managerial responsibilities; or
- Exercising policy formulation
If you are investing in your E2 business, this should not be a problem.
You must manage and expand the E2 business to qualify for the E2 visa. Compared to the EB-5 criterion to “engage in the management of the business,” the E2 visa’s “direct and develop” requirement necessitates a lot more participation in the company. Therefore, if you currently meet the “direct and develop” criteria, you have two options once you convert to an EB-5 visa: either maintain your current degree of participation or reduce it to simply making policy decisions.
Company Sponsored Green Card
Another approach to transition from an E2 visa to a green card is to have an organization sponsor you by making you or your spouse a job offer in exchange for a green card. The ability of your dependant spouse to seek work authorization is one special perk of the E2 visa. You may only work for the E2 company as the primary E2 visa holder. However, if your spouse is granted work authorization, they are free to work in any legal employment. A US employer must obtain a Department of Labour- approved Labour Certification, you must be granted an EB-2 or EB-3 visa, and you must change your status or obtain a visa abroad of the US to be sponsored for a green card.
This is a 3-part process:
- Company Gets Labour Certification
- You Apply for the Employment-Based Visa
- Adjustment of Status or Visa Processing
Labor Certification
A corporation must obtain a labour certification from the US Department of Labour before it may sponsor a foreign worker for a green card. A PERM Labour Certification is the procedure in question.
The Labor Certification procedure aims to establish two things:
- That the US company is not able to fill the position it is offering due to a lack of qualified US workers who are willing and available; and
- Hiring a foreign employee won’t hurt the pay and working conditions of US employees doing similar
To briefly summarize the labor certification process:
Your prospective employer is required to engage in specific job recruitment procedures, like publishing job postings in local neighborhood newspapers. The company must be Unsuccessful to locate a suitable US worker. The employment criteria must be reasonable and appropriate for the role. They cannot be overly restrictive. You must be given a full-time, permanent position by your potential company. Your prospective employer must pay you the “prevailing wage” or more, for the position you are hired for. The average pays for workers who are similarly employed in the location of the proposed employment is known as the prevailing wage. You must see proof that your potential employer can afford to pay you the standard rate.
You Apply for an Employment-Based Visa
As soon as the Labor Certification has been approved You must next apply and receive approval for an employment-based immigrant visa. The labor certification form is not included in this. Your US employer will do this on your behalf by submitting Form I-140.
The PERM Labour Certification corresponds to 2 primary types of employment-based immigrant visas:
- The Visa EB-2
- The Visa EB-3
Professionals with advanced degrees or those with extraordinary abilities are eligible for the EB-2 visa. Certain professionals, untrained employees, and skilled workers are eligible for the EB-3 visa
Adjustment of Status or Visa Processing
Lastly, you will need to apply for an immigrant visa at a US consulate abroad or change your status.
- A Form I-485 must be submitted to change your
- Form DS-260 submission is required for visa
As was already mentioned, only those who are currently in the country legally are eligible for a change of status. You can also apply for an immigrant visa at a US consulate abroad.
EB1A Visa if You Have an exceptional Talent
The EB1A visa is an additional route for obtaining a green card after holding an E2 visa. An immigrant visa known as the EB1A is available to those with exceptional talent in the arts, sciences, athletics, business, or education. If you possess extraordinary skills, you are one of the select few who have attained the highest position in your field.
To eligible for an EB1A visa, you must demonstrate 3 things:
- That you possess a unique talent
- That you’ll work in the United States in your exceptionally talented field
- That the United States will gain significantly from your entrance into the country
An EB1A visa has the advantage of not requiring an employer to sponsor you, which is one of its benefits. Without having a job offer or an organization sponsoring you, you can apply for an EB1A visa on your behalf.
National Interest Waiver
A national interest waiver is an alternative option for converting an E2 visa to a green card. A national interest waiver is a category of the EB-2 visa that is open to individuals with advanced degrees or outstanding abilities The national interest waiver, in essence, is a waiver of the demand for a valid labour certification from a US employer. If you have a national interest waiver you can apply for an EB-2 visa without an enterprise sponsor and without having a job offer from the US.
In eligible for a national interest waiver, you must satisfy the 4 requirements:
- You must qualify for an EB-2 visa (minus the labour certification)
- The field you choose to work in must have high merit and national significance
- You need to be in a good position to advance your suggested
- You must provide verification that waiving the requirement that you have a US work offer from a company with an approved labour licensing is in the national interest of the
Marriage-Based Green Card
The other option for getting a Green card from an E2 visa is by getting married. A legitimate marriage with a permanent US citizen will refer to the immigration benefits.
Conclusion
You are much better equipped today to understand the E2 visa and the process of converting an E2 visa to a green card.
With an E2 visa, you have the fantastic opportunity it permits you to work and live by the investment in any business or company in the USA. However, the E2 visa is a non-immigrant visa, so you could not directly get the green card. If you want to transfer your E2 visa to a green card, you need to apply for the green card and get approval for immigrant classification. Several visa immigrant categories you can consider are the EB-5 visa; a company sponsorship; EB1A; National Interest Waiver; and a marriage-based green card.