Jump to content
ith123

E2 visa for investment advisory business

 Share

5 posts in this topic

Recommended Posts

Filed: AOS (pnd) Country: Canada
Timeline

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.

Link to comment
Share on other sites

Filed: K-1 Visa Country: Wales
Timeline

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?

“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.”

Link to comment
Share on other sites

Filed: AOS (pnd) Country: Canada
Timeline

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!

Link to comment
Share on other sites

Filed: K-1 Visa Country: Wales
Timeline

You have no employees

You have no physical assets

Check the E2 requirements

“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.”

Link to comment
Share on other sites

 
Didn't find the answer you were looking for? Ask our VJ Immigration Lawyers.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
- Back to Top -

Important Disclaimer: Please read carefully the Visajourney.com Terms of Service. If you do not agree to the Terms of Service you should not access or view any page (including this page) on VisaJourney.com. Answers and comments provided on Visajourney.com Forums are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Visajourney.com does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. VisaJourney.com does not condone immigration fraud in any way, shape or manner. VisaJourney.com recommends that if any member or user knows directly of someone involved in fraudulent or illegal activity, that they report such activity directly to the Department of Homeland Security, Immigration and Customs Enforcement. You can contact ICE via email at Immigration.Reply@dhs.gov or you can telephone ICE at 1-866-347-2423. All reported threads/posts containing reference to immigration fraud or illegal activities will be removed from this board. If you feel that you have found inappropriate content, please let us know by contacting us here with a url link to that content. Thank you.
×
×
  • Create New...