It is very much possible for foreigners or non-nationals to start their own business ventures in the United States of America and for the same, you don’t need to acquire citizenship or residency. But there are certain guidelines to be followed to begin a business venture or start a company. These rules or processes are not different from the ones pertaining to US citizens. To begin with, let’s understand the visas available for foreigners who are planning to start a business in the US.
Get The Requisite Approvals Via These Visas
As long as foreigners are paying the taxes they don’t require a Green card to start a business or get tagged as a corporate officer or a chairman in a US-listed company and generate profits as well. But to operate a business they require government approval via an E-2 Treaty Investor Visa or EB-5 Visa.
Requirement To Be An E-2 Treaty Investor:
Must be a national of a country with which the US has a treaty of commerce and navigation;
Must be intending to vigorously invest (or have already invested) a huge sum of capital in a real US company;
Must be in (or want to be in) the US only for building and directing the investment enterprise. (Needs to show 50 percent ownership of the company or possess operational discretion as a manager or other corporate means.)
Stays Allowed & Extension Requests
One getting categorized as an E-2 investor is allowed to initially stay in the US for up to two years. Extended stays could be given up to two years more. However, no ceiling has been prescribed for the number of requests regarding extensions, E-2 investors should be prepared to leave the United States when their E-2 status expires (or has been terminated).
Most importantly, It is to be remembered that E-2 treaty investors should only do those things they were allowed to while they were accorded the E-2 status.
Requirement To Be An EB-5 Investor:
This is accessible only for foreigners who have put in at least $1.8 million—or $900,000 if the entity happens to be a TEA (targeted employment area)—in a commercial enterprise and have generated ten fresh full-time opportunities. Those having EB-5 visas could be eligible for permanent US residency and citizenship later on due to their financial investment and commitment.
Through an EB-5 visa, the investors get conditional permanent residence for two years in the US and their family members can also join them. Also, the investor can apply for permanent residency within 90 days prior to the expiry of the two-year period of his temporary residency.
