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Visa E2

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					Florida Association of REALTORS®

        District 9
  International Summit
     Marty Lester
Fleet, Spencer and Kilpatrick
   VISA OPTIONS FOR
INTERNATIONAL BUYERS

    Wednesday, April 1, 2009
FAR District 9 International Summit
      Martin W. Lester, Esq.
How can your clients VISIT the
       United States?
                   VISA WAIVERS
      Only certain countries
 U.K. (but NOT British overseas citizens, British dependent territories’
 citizens, or citizens of British Commonwealth Countries.)
                                                            Germany
Andorra              Spain               France Denmark
        Australia                         Sweden            Portugal
 Monaco                                                San Marino
                    Japan           Belgium
    Brunei                               Netherlands         Ireland
 Italy                       Slovenia New               Austria
 South Korea                             Zealand
                            Iceland
         Finland                        Singapor Switzerland
 Luxembourg      Norwa                            Liechtenstein
                                        e
                 y
 VISA WAIVERS (cont’d)
No more than 90 days
Non-refundable ticket
Restrictions
 No employment
 Not eligible to change, extend,
 adjust status
                B-2 VISAS
Must apply and be approved by U.S. Embassy
in home country
  Residence in foreign country
  No intention of abandoning
  Adequate financial resources for U.S. trip
Length of Stay controlled by I-94 (usually up to
6 months)
Can ask to change, extend, adjust status
No employment
How Long Can Your Clients STAY in
       the United States?
VISA WAIVER: No more than 90 days
B2: Usually 6 months, but determined at time of
entry
Determined by I-94


Given to client upon entry
Date of Entry, Place of Entry, Status, Required Departure
Date
I-94, NOT Visa, determines length of stay
What Options Will Let Your Clients
   LIVE in the United States?
Factors to Consider
 Client’s Resources (investment)
 Client’s Current Employment (transfers)
 Client’s Special Talents
 Client’s Personal Family History (Family in U.S.)
 Client’s Background (bars and waivers)
 Client’s Nationality (different rules for different
 countries)
   Australians (E-3)
   Northern Ireland (Q-2)
   Canada and Mexico (TN)
Options for Investors
                     E-2 Visa
Requirements:
 Treaty in Place with Country
 Business Owned by Investor or Person of that Nationality
     50% or more
 Investor will “develop and direct” business
 Investment is “substantial,” not “marginal”
     Rule of Thumb: $50K - $100K
     Not Just To Provide Employment for Investor and Family
 Investment “At Risk”
     Not secured by assets of the new business
     May be secured by other things
      Home Equity
      Other Loans
    Can be escrowed pending visa approval
             E-2 Visa (cont’d)
Advantages:
  Two (2) year admission, two (2) year renewability periods
  Renewable as long as investor owns and runs business
  Family can come as dependents
    Spouse can work in the U.S.
     Dependent children can attend school
Disadvantages:
  Not a “retirement visa” (U.S. doesn’t have one)
  Not an immigrant visa
  Children not covered when they grow up
                   EB-5 Visa
Requirements:
  Investment of $1M ($500K in targeted employment area)
    Cash, Equipment, Inventory, Tangible Property, Cash
    Equivalents, Indebtedness
  Secured by Assets
    Investor must be personally liable
    Loans do NOT qualify
  New Commercial Enterprise (formed after November 29,
1990)
  Employ 10 persons
  Day-to-Day Management and Policy Formation
  Immigrant Investor Pilot Program
            EB-5 Visa (cont’d)
Advantages:
  Lawful Permanent Residency (“Green Card”)
   Conditional for two (2) years, like marriage
  U.S. Citizenship (ultimately)
   Just like any other LPR

Disadvantages:
  BACKLOG
     Employment-Based Visas
 No General “Work Visa”
 Depends on Person’s Skills and Field
 of Knowledge
 Inter-company Transfers (L Visa)
 Temporary Workers (H1B, H2B)
 LPR through Employment

Points to Consider
1. Backlogs and delays
2. Employers must petition
3. Can’t “fix” illegal status
Status of Current Legislation


          NAR Priority
        THE TEAM APPROACH
Front-End Planning is Crucial!
MUCH easier to do it right ahead of time than to try to fix problems later.
Danger of overstays and future ban
Possible loss of investment

A Qualified Immigration Attorney is an Important
Member of the Team
Analyze the client’s situation
Help structure the transaction to meet the client’s needs
Help avoid loss of investment to client
Help avoid loss of reputation to agent

Only Use AILA Attorneys
The “Gold Standard”
Shalimar                      Destin
1283 Eglin Parkway, Suite A   2000 Ninety-Eight Palms Boulevard
Shalimar, Florida 32579       Suite 110
(850) 651-4006                Destin, Florida 32541
www.fleetspencer.com          (850) 650-7299
marty@fleetspencer.com