E2 visa for investment advisory business

[ith123 0]

I'm a Canadian and started an investment advisory business (technically a hedge fund) 2 years ago while in the US as a TN for another company (they are fine with this that's not the question). I realize this is pushing it from an unauthorized employment point of view but I tried to do most of the work while I was in Canada (3 months a year vs 9 mos in the US) to hopefully avoid it be egregious.

I'm back in Canada now and looking into getting an E2 visa for this advisory business and was hoping to get an opinion on the 'substantial investment' issue in particular. Since it is a service business I just work at home and the 3 employees (actually IC's legally) I have also work from home and the total fixed assets are laptops, so nothing really. One unique thing about the "sales pitch" for the advisory business is that it is set up so that the advisory fees earned (63k in 2009, 93k in 2010) must be 90% retained in the business and placed alongside client funds (i.e. I am forced to eat my own cooking). As a result, the business has about $130k retained that cannot be legally removed without liquidating the business. On another note, I also sold a small fraction (under 10%) of this business to some American investors that gives an implied valuation for the whole business of about $1 million. The business is incorporated in the US which is more for securities laws than anything (even if I were in Canada full time the corporate structure would still be in the US). There are 40 clients now if that helps demonstrate that it's a 'real' business and not just passive stocks.

I am curious I guess in part - will the E2 application punish me for potential unauthorized employment before - though I am in Canada now and trying to fix it by getting an E2? And also if this seems to make sense in terms of proving substantial investment for a business that is purely information based (I intend to get an office soon but I mainly fly to visit clients in person, they don't come to the office).

Thanks for the help here, this forum is great.

[Boiler 45,516]

You do not seem an obvious fit for an E2.

If you go as a start up how would you be able to show employees and physical assets for renewal?

[ith123 0]

You do not seem an obvious fit for an E2.

If you go as a start up how would you be able to show employees and physical assets for renewal?

There are already 3 employees (technically IC's) and 130k in assets (albeit liquid assets but they cannot legally be withdrawn unless the business shuts down. What do you mean by how would I be able to show employees or assets?

Thanks!

[Boiler 45,516]

You have no employees

You have no physical assets

Check the E2 requirements

[Harsh_77 718]

This would backfire on you for E2 you are supposed to start a new business, in your case it seems you already have business - which means you started a business when you were not supposed to.