How to start business in US without green card?

Have you ever thought why people are keen to start their business in US? The answer is simple.

In US, it is simple, fast and above all inexpensive to start any business. But what if you do not have green card? Having a green card definitely makes things easy but not having it makes it a little tough to start a business in US but it is also not impossible if you follow the right procedure.

Do you have L-1/E-2 visa?

There are certain important things that you have to keep in mind if you are planning to start a business in US without green card. First and foremost, you should have L-1/E-2 visa.

You might be thinking what is this L-1/E-2 visa? L-1 visa allows overseas companies to transfer those skilled employees to United States who have worked there for some subsidiary, parent or branch office of any US Company for at least 1 year. This is a non-immigrant visa and it can be an excellent way to expand business with very less investment. Whereas, in E-2 visa, you can start a business in US and live legally if you are an investor but if your business is going through bad phase then meeting the requirements of United States is not that easy. One small mistake might make you lose the right to stay in that country also.

The common qualifying issues

You might face some issues in qualifying for L-1/E-2 visa, below mentioned are some common issues while applying for this visa:

• When you don’t have a detailed business plan and a secured physical premises
• The petitioner will approve your petition only for a year and to get an extension, you must have a running and profit making business for the same
• Source of getting funds and investors should be legal

Investment requirements for L-1/E-2 visas

There is no set investment amount for acquiring L-1 or E-2 visas however for the L-1 visa, the quantum of the investment should be sufficient to provide remuneration to the foreign national beneficiary and conduct business in US. In the case of E-2 visa, the investment has to be substantial and the business just cannot be marginal.

Tips before you start a business in US!!!

Last but not the least, below mentioned are few tips and steps that you must follow when you plan to start a business in US:

• Do complete your market research and plan properly
• Legal structure of your business should be clear
• Register your business name with the country recording office
• Register your business with State Government
• Open a business bank account and get TIN number
• Get business permits and licenses for smooth functioning of your business
• Follow all the norms related to worker compensation and unemployment insurance programs etc.
• Search a business location suiting your needs and secure a lease
• Do not forget to register for state as well as local taxes

Therefore, to set up a business in the US is quite interesting but at the same time challenging also. But, your paper work must be completed. To minimize the risk your market research should be done in depth and proper planning should be made to run your business smoothly.

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AditiJ

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