Attorney In Immigration
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VisaPro.com: Types of Business Entities
Jul 22nd
The United States has no federal business law and, therefore, corporations are exclusively regulated by state laws. There are four main types of business entities in the U.S. i.e. Sole Proprietorship, Partnership, Limited Liability Company (LLC), and Corporation. For establishing a new office in the U.S. usually the LLC or the corporate structure is recommended.
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| II. | Incorporations | ||||||||||||||||||||||||||||||||||||||||||||
| Incorporations (also called corporations) are more complex than partnerships or sole proprietorships, in that a new legal entity is created. A corporation is an entity that is separate from its owners, so that regardless of what happens to shareholders, the corporation continues until it is legally dissolved. Depending on state law, a corporation can be owned by just one person and have just one director and officer. The owner(s) of a corporation are known as shareholders. The shareholders elect directors to set the policies of the corporation and represent their interests. The directors appoint the officers of the corporation to manage day to day operations. Corporations are legally required to follow more formalities than any of the other entities, including annual meetings of the shareholders and directors, as well as board approval of most significant acts by the corporation. Because a corporation is separate from its shareholders, for example, even if one person is the sole shareholder/director/officer, that person cannot just take company funds for him/herself without documenting the reason and entering a board resolution into the corporate records.
Taxation of corporations is much more complex than sole proprietorships or partnerships: depending on the number of, residency of and type of shareholders, a corporation can elect to be treated for tax purposes as a if it were a partnership (an S corporation) and therefore not pay taxes itself, or it can be treated as a taxable entity (a C corporation). |
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Incorporation FAQs
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| III. | Strategic considerations in selecting appropriate structure |
| Selecting the most suitable legal business structure is the first and foremost step in starting a business entity. The decision depends upon various factors such as the capital involved, the nature of business, the nature of ownership, legal formalities involved, tax issues, management and control etc. The following points highlight the distinction between the major types of business structures: | |
| Formation Sole Proprietorship and Partnerships may not require filing in some States; however for establishing a LLC or a Corporation, State filing is required.
Management In Sole Proprietorship full control of management and operations rests with the proprietor, whereas in Partnership generally each partner has equal control, unless there is an agreement to the contrary. The management and control of an LLC is outlined by the operating agreement between the members. A Corporation is managed by directors, who are elected by the owners i.e. the shareholders of the corporation. Raising Capital Raising of capital from external sources is often difficult for a sole proprietor and he has to depend on his own contributions. In a Partnership, contributions can be invited from the partners or a new partner may be added who may bring his share of the contribution. LLC members can raise capital by selling interests, however it is subject to the operating agreement. A Corporation has the option of raising external capital through issue of shares. Liability Sole proprietor and partners have unlimited liability, whereas members of an LLC may not be liable for the debts of the LLC. In a Corporation, the liability of shareholders is generally limited to the extent of value of shares purchased. They may not be held personally liable for the debts of the corporation. A Sole Proprietorship dissolves if the sole proprietor dies or discontinues with his business. A partnership dissolves with the death or withdrawal of a partner, unless partnership agreement contains contrary provisions. The duration of an LLC depends upon the requirements imposed by the state where it has been formed. The major advantage of a Corporation lies in its perpetual existence. Tax Issues There are different tax rules that apply to each different type of entity. Generally sole proprietorships, partnerships, and LLCs are taxed at the individual level, while the corporation is taxed at the corporate level with dividends being taxed a second time at the individual level. There are several taxes you have to account for when establishing a business in the U.S. The taxes could be at the city, county, state and federal levels. |
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Conclusion
Launching a new business can be quite exciting. But there are also many challenges. In-depth market research and planning can minimize the risks. You must weigh all your options, analyze all the possible situations and select a reliable service-provider who will guide you through the entire process.
VisaPro handles the formation requirements of your new business in the U.S., and also helps you obtain new office space and file your visa petition to enable you to enter the U.S. to take care of your newly established business. Our team of professionals, strong service culture, quality service and timely response ensure that everything related to your new office is handled professionally, completely and in a timely fashion. Any Questions? Contact VisaPro to learn more about how we can help you.
Source: http://www.visapro.com/Immigration-Articles/?a=304&z=48
E2 Treaty Investor Visa Processing in France
VisaPro.com
Jul 20th
E-2 Treaty Investor visas are authorized on the basis of treaties of commerce and navigation or bilateral agreements between the United States and certain other countries, to enter the U.S. for the purpose of directing and developing the operations of an enterprise the applicant has invested in, or is in the process of investing a substantial amount of capital. France is a treaty country, which under the treaty includes metropolitan France and La Martinique, La Guadeloupe, French Guinea and La Reunion.
There are different procedures for individual investors or small investing enterprises and larger multinational corporations. In this article we cover the basic steps in applying for an E-2 Investor visa at the U.S. Embassy in Paris.
Qualifying for E-2
Application for a Treaty Investor (E-2) visa is a two-step process. First, the U.S. business (the Enterprise) must qualify under the terms of U.S. law and regulation; second, the investor, or the employee (the Applicant) of the enterprise must apply for the visa to be placed in his/her passport.
The enterprise must meet the following conditions for E-2 status:
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The Enterprise must be majority-owned, as well as developed and directed by nationals of the Treaty Country. |
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| (b) | Individual employees must have the same nationality as the Enterprise to qualify. | ||
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| (c) | The Enterprise must be real and operating and the investment must be substantial. | ||
Applicants who are employees of the enterprise must either:
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be going to the U.S. to work at an executive/managerial level on temporary basis |
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| (b) | be going to the U.S. to use their special skills which are (1) essential to the Company’s operations in the United States and (2) not readily available in the U.S. labor market. |
Submitting your E-2 visa application
Before submitting your application for an E-2 visa, you need to pay the application fee of 85 euros at any French post office (La Poste) and obtain a Mandat-Compte, account #2006L. You will be required to send the original postal receipt with the application.
U.S. Embassy, Paris requires that E-2 applications must be submitted in a binder divided into sections clearly separated by lettered or numbered tabs. A cover letter from your attorney or representative may be included outside the binder.
Required format of E-2 applications
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Mailing the application to the Embassy
Applications in the above format with supporting documentation must be mailed to:
U.S. Consulate General
Treaty Visa Officer
18 Avenue Gabriel
75008 Paris
FRANCE
Processing of the Application
Adjudication of an E visa application is complex and time-consuming; therefore, adjudication can take five to eight weeks. On receipt of the application, the embassy will send you (or your representative) an email with a unique Reference Number that you can use to view the status of your application online. Information on pending E-2 visas can be found out from the Embassy’s website.
Adjudication of the case may result in any of the following:
- Refusal under INA Section 214(b) for failing to meet requirements for treaty investor status.
- Refusal under INA Section 221(g) for providing insufficient information to make a final determination in the case. In this case you may submit additional information to address the insufficiency identified in the refusal.
- Successful registration of the enterprise by approval of your E-2 case.
Approval of the application and Personal Interview
On approval of your E-2 case, the Embassy will invite you for a personal interview. The principal applicant and dependents over 13 years old require a personal interview. You need to carry the following documents:
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Valid passport for the principal applicant and dependents. |
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| (b) | The issuance fee, if you are not a French citizen. French citizens are not required to pay any issuance fee. | ||
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| (c) | A self-addressed envelope for the return of the passport(s). | ||
Family Members: Spouse and Children
Spouses and all unmarried children under age 21 are eligible for derivative E visas. A separate DS-156 application form must be completed and separate photo provided for each eligible family member. Include proof of the family members’ relationship to you, such as a copy of your marriage certificate and/or a copy of your children’s birth certificate(s). The Mandat-Compte must accompany EACH application. Spouses of E visa holders may seek employment authorization in the U.S. on derivative E visas by applying for an Employment Authorization Document.
Special procedure for Large Multinational Corporations
If the enterprise meets the following requirements, the application procedures for a large multinational corporation may be followed:
- Enterprise has been incorporated and doing business in the U.S. for 2 years or more
- The U.S. Enterprise and its affiliates have combined annual sales of more than US$25,000,000 or has a U.S. work force of at least 1,000 employees
Applications must be submitted in a binder divided into sections clearly separated by lettered or numbered tabs. A cover letter from the applicant’s representative may be included outside the binder.
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Validity period of the E-2 visa
Treaty visas issued to applicants of most treaty countries are valid for multiple applications for entry to the United States during the visa validity period. The maximum validity period for French treaty visas is five years, but the actual validity of each visa is subject to the discretion of the Consular Officer. If your application is well-prepared and the Consular Officer is convinced, you may be granted a five-year visa.
The permitted length of stay in the United States is determined at the port of entry. An initial period of twelve months is granted in the beginning, renewable annually as long as the individual and the enterprise are entitled to treaty status. A valid visa and passport are always necessary for entry into the United States.
Conclusion
Consular Posts often change policies and visa processing procedures making it difficult to be aware of the latest policies. Prospective investors and E-visa applicants should always review regulatory requirements and seek professional advice from an immigration law attorney before submitting an application. We advise our readers to consult a VisaPro Attorney to know the latest policies and procedures being followed by any U.S. Consular Post and assist them through their E-visa procedure.
We at VisaPro have successfully helped our clients at all stages in the process. We advise our readers to contact us to determine your eligibility for an E-2 visa. Our attorneys will answer all your preliminary queries and devise the most suitable strategy for the successful processing of your E-2 visa application.
Source: http://www.visapro.com/Immigration-Articles/?a=445&z=48
