As the US economy bounces back this year, immigration attorneys have begun seeing a rapid rise in the interest of immigrants wishing to start new businesses in the country. Still, even if these entrepreneurs have great ideas that have the potential to create new jobs, the legal path to launching a business could be a minefield.
Given the overwhelming procedure, it’s critical for entrepreneurs to understand that as long as you have a dedicated idea or endeavour, there are means to make it come true. The most important thing is to get started right, to establish a long-term vision, and to thoroughly comprehend all of your possibilities. There are three major phases to accessing the US market which include:
Step One: Work Out Your Business Master Plan
Concentrate on what it will take to build your organization, including goals, long-term plans, and financial projections, and estimate your cost. Founders are frequently so focused on going to the United States that they lose sight of the business and investment necessary, which is the true key to securing the visa.
Many immigrants attempting to start a business in the United States are unaware, for example, that they can start their firm while still residing abroad. However, if a company does not pursue the appropriate visas for its personnel, the entire procedure becomes more difficult. Integrating businesses, signing and negotiating terms, participating in corporate events and meetings, employing people, and more are all things that new businesses don’t have to wait for their visa to be finalized to do, and that immigration lawyers stateside can assist you with regardless of industry: innovation or software technology, architecture, financial services, food management, or even art.
Step Two: Fix Your Business Model With Right Visa For Stability
Once you have a business strategy in place, you may look for the best visa for you. New entrepreneurs are sometimes unaware of the variety of visas accessible to them and the staff they wish to employ.
The H-1B visa receives a huge amount of attention from media persons, yet there are some significant disadvantages. To begin, the H-1B visa is restricted to 65,000 new visas every year (with a few exemptions for applicants with advanced degrees and excellent educational qualifications), and if your name is not picked in the particular year, you must wait another year to try again.
Furthermore, L visas allow corporations intending to grow into the United States to expand the business and open new offices, EB-5 and E-2 visas enable persons to invest in US businesses, and EB-1 visas allow artists to live and work in the United States. Each circumstance is unique, and determining which one best meets a company’s needs is critical to effectively launching a new venture in the United States.
Step Three: To Limit Your Vulnerability, Discuss All Possible Angles With Your Attorney
When dealing with entrepreneurs looking to start a new firm in the United States, some of the most serious losses tend to happen as a result of selecting the improper visa. The entire procedure can take months to resolve when a wrong visa has been chosen, limiting his or her capacity to go through the visa and immigration processing and begin working on the work he or she truly desires.
This is one of the reasons why developing a long-term strategy is critical: if things don’t get off to a good start, firms run into roadblocks they could have avoided.
Immigrant-owned businesses, enterprises, and brands have played a critical role in shaping the United States into what it is today. Although the immigration system is complicated and often scary, the benefit that immigrant employees and entrepreneurs bring to the United States is too big to adequately quantify.