| Author |  Topic  | |
Ray9
169 Posts
Joined: 19 Jun 2004
Status: offline |  Posted - 15 May 2007 : 05:43:48  
| A MUST READ FOE ANY E-2 VISA HOLDER
A press release and information as received from Congresswoman Heather Wilson's office.
This should excite every E2 holder, but what now becomes crucial is making contact with every Congress representative throughout the US wherever your business is located..Ideally you need to speak with the person who handles "immigration" issues, alert them to this Adjustment act, ask for a meeting so that you can fully explain your personal & business situation.
The Wilson Bill Will Help Small Business Success Stories Stay in the US
Change would allow legal business owners to gain permanent status
Washington, DC - Congresswoman Heather Wilson today introduced legislation to help legal residents in the U.S. with an E-2 Investor Treaty Visa gain permanent status after building a business here.
Bob and Patricia Franklin, who live in Albuquerque, came to America on an E-2 Treaty Investor Visa 15 years ago and have built a thriving business, Budget Transmissions. Under current law, they cannot even apply for permanent residency in the U.S. no matter how long they have been here or how much of a contribution they have made to the community by creating jobs.
"People like Bob and Patricia need to be able to plan for their businesses, their families and their futures. I want to change the law so that they can apply to change their status to permanent residency so they'll stay here and keep growing jobs in our community," Wilson said.
Like the Franklins, people here on E-2 Visas run businesses, have invested in America, and created jobs. The Franklins purchased Budget Transmissions, an automotive repair shop, which included 7 employees and a $350,000 turnover. Fifteen years later, they are half way through the purchase of a 13,000-square-foot building valued in excess of $1 million, employ 11 full-time employees, and bring in about $1.4 million dollars annually. Their employees receive competitive pay, benefits and training. They also have a 16-year-old son who is an aviator and a student at La Cueva High School in Albuquerque.
Wilson's legislation, the E-2 Nonimmigrant Investor Adjustment Act of 2007, will fix a glitch in the law and give individuals on an E-2 Treaty Investor Visa the opportunity to apply to change their status to permanent resident after meeting certain requirements.
Currently, individuals who come to America on an E-2 Treaty Investor visa cannot become permanent residents and their children cannot stay in the country as adults.
The legislation could help 165 people in New Mexico and 143,786 nationally, according to 2005 data.
What is an E-2 Investor Treaty Visa?
· It is a visa category dating back to the 1952 Immigration and Nationality Act (INA).
· It provides a way for non-immigrants to legally live in the United States by investing in an enterprise and making a positive impact on the economy.
· These individuals operate a small business and pay taxes.
· It is typically issued for 2 or 5 years and must be renewed in order for them to stay in the U.S.
What is the problem with E-2 Investor Visas?
· Children face uncertainty. When children turn 21 they must return to their country of origin or apply for a separate visa - in most cases a student visa. Many of these visas are capped meaning they might not receive another visa.
· If they ever decide to retire or sell their business they must return to their country of origin regardless of the sometimes lifelong investment they've made in the American economy.
· No matter how long they've been in the U.S., currently they are not allowed to adjust their status to a permanent resident or begin a path to American citizenship.
What does the Wilson legislation do?
· The legislation would allow 3,000 people in America on E-2 Investor Visas each fiscal year to change their status to permanent resident if they meet the criteria.
· To qualify, they must be present in the U.S. for 5 years before being able to apply for permanent residency.
· They must make measurable and significant contributions to the economy:
· Invest $200,000 in an enterprise.
· Employ at least 2 full-time employees when the business starts up and by the end of the third year employ at least 3 full-time employees.
· People already in America on an E-2 Visa, would have to have a minimum continuous presence of 5 years in the U.S. and have a continuous operation of a business.
IF you are an E-2 visa holder ...ACT NOW | | Report this post to a moderator |
|
flyrr100
 USA
722 Posts
Joined: 06 Jun 2004
Status: offline | Posted - 15 May 2007 : 12:30:28
| | Great news. I'm glad we are finally creating immigration legislation that's not only aimed at hispanics. Good luck everybody. And welcome to the American Dream! |
Jeff & Amy Stephens | | Report this post to a moderator | goto top of page |
|
esprit
 USA
6886 Posts
Joined: 11 Feb 2002
Status: offline | Posted - 15 May 2007 : 22:24:46
| | Still at a very early stage but looking promising, lets hope something comes of it. I have to say this proposal is due to the tireless efforts of Bob Franklin, a member of several immigration forums who has been on E2 for a staggering 15 years and whose son, in the US since age 1 so to all intents and purposes an American, is now 16 and facing the aging out process in just a few years. If it comes off, then all E2 visa holders will owe him a huge debt. |
Julie | | Report this post to a moderator | goto top of page |
|
esprit
USA
6886 Posts
Joined: 11 Feb 2002
Status: offline | |
Frosty
 USA
795 Posts
Joined: 15 May 2004
Status: offline | Posted - 28 May 2007 : 15:25:00
| This is good news for some people.
I must admit, it seems that only a select few will get the chance to change and 3000 per year is very few in context to all the people who are on E2.
Reading the first paragrah regarding the Franklins, i can't help wondering why they don't qualify for a green card immediately, seeing has how they are investing over a $1,000,000.00 and already employ over 10 people.? |
Neil & Kay | | Report this post to a moderator | goto top of page |
|
florida4sun
 United Kingdom
6522 Posts
Joined: 16 Feb 2002
Status: offline | |
roger
 United Kingdom
3765 Posts
Joined: 21 Jan 2002
Status: offline | |
esprit
USA
6886 Posts
Joined: 11 Feb 2002
Status: offline | Posted - 28 May 2007 : 19:01:32
| | Its really risky, Roger, if you dont succeed you cant go back to your E2 as you will have applied to change status. I do know of two people who did this successfully but you need a very big successful business and it can take years. The currently proposed legislation will have far more generalised effect. |
Julie | | Report this post to a moderator | goto top of page |
|
roger
United Kingdom
3765 Posts
Joined: 21 Jan 2002
Status: offline | |
| | Topic | |
Go to first unread post
E2 Very Important Announcement
