In this video attorney Jacob Sapochnick discusses the E-2 visa option for franchisees with Sheila Purim the co-founder of Franchise Wizard, a consulting service that helps entrepreneurs connect with franchisors.
The E-2 treaty investor visa is a non-immigrant visa that allows foreign entrepreneurs from treaty nations to enter the United States and carry out investment and trade activities. Investment activities include the creation of a new business or investment to purchase a business. The E-2 visa is only available to foreign nationals from a country that has a qualifying treaty of friendship, commerce, navigation, or a similar agreement exists with the United States. One way to qualify for the E-2 visa is to invest in an existing franchise in the United States. The franchisee is given authorization by a company or business owner to carry out commercial activities and operate a business based on the company’s business model.
Industry veterans, Jacob and Sheila discuss the concerns that franchisees may have in investing in a franchise and ways to overcome the risks of not having an E-2 visa approved, after having taken substantial risks to obtain the visa. Of course it is important for the applicant to fully understand the process of becoming a franchisee and the process of applying for the visa. The applicant must make informed decisions on what type of business to invest in. For example, if the applicant does not have any experience in the particular industry in which they are investing, an immigration officer will be more skeptical about issuing an E-2 visa to someone that does not have a proven track record or experience in a similar business. In addition it is important for the applicant to demonstrate the source of the funds for the investment. If the applicant is not comfortable providing extensive paperwork relating to the investment, the visa will not be approved. For more tips keep on watching.
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