View Full Version : Retirement in Florida within the next two years
Dave Wood
01-02-2004, 19:11
This is my first post to this forum, but I have read many of the posts from others regarding this subject which appears to be the dream of so many people.
I would appreciate advice or comments on the following scenario.
I have a successful art business trading on the Internet with only about 20% of my sales going to USA. The USA sales would be greatly increased if I had a base to operate from in the USA, because so many people, and especially the Americans, don't like to buy from overseas companies.
I am considering buying a Gallery in Florida which already employs one full time and one part time US citizen, as a base to work from for the US market and continue the existing business here in the UK. I would retain the existing staff to operate the Gallery and I would mostly work from the UK and travel to Florida for about one week every two to three months or so.
The existing Gallery has a net trading profit of about $40K pa, which I know would increase with my expertise and additional Internet business. If this business is successful I would possibly look for another one in another state (possibly Texas).
Would this qualify for the L1 visa? and how long would it take?
If not, what other criteria would be neccessary?
Once obtaining the L1 visa, how can this be upgraded to the Green Card?
Once you have the Green Card, can you then sell up and retire in your fine property in the sun?
chrizzy100
01-02-2004, 20:17
<blockquote id="quote" class="ffs">quote:Originally posted by Dave Wood
This is my first post to this forum, but I have read many of the posts from others regarding this subject which appears to be the dream of so many people.
I would appreciate advice or comments on the following scenario.
I have a successful art business trading on the Internet with only about 20% of my sales going to USA. The USA sales would be greatly increased if I had a base to operate from in the USA, because so many people, and especially the Americans, don't like to buy from overseas companies.
I am considering buying a Gallery in Florida which already employs one full time and one part time US citizen, as a base to work from for the US market and continue the existing business here in the UK. I would retain the existing staff to operate the Gallery and I would mostly work from the UK and travel to Florida for about one week every two to three months or so.
The existing Gallery has a net trading profit of about $40K pa, which I know would increase with my expertise and additional Internet business. If this business is successful I would possibly look for another one in another state (possibly Texas).
Would this qualify for the L1 visa? and how long would it take?
If not, what other criteria would be neccessary?
Once obtaining the L1 visa, how can this be upgraded to the Green Card?
Once you have the Green Card, can you then sell up and retire in your fine property in the sun?
Once you have the Green Card, can you then sell up and retire in your fine property in the sun? [/quote]The only question I can answer there is...once you have your Green Card...if you have enough money you can sit on your bum all day if you like.:D.Green Cards are renewed every 10 years...I'm not sure if you have to prove income at that time..
I know not all visas lead to a Green Card....Julie will be the best to answer that one....
I just thought I'd better add that it could take you well over a year to get any visa....and it takes most people 5 years after that to get a Green Card...so retirement in 2 years would be out the question for almost anyone...remember also that selling a company to retire would have to give you enough money to pay for healthcare....and even with a good healthcare plan you could find yourself paying out thousands a month when you're older....so you would need to keep some form of replacement income...a lot of Americans just keep on working well into their 70's....the cost of living in the USA can be higher than you think.....
The reason you see so many 'bag packer' at the supermarkets who are in their 70's is the healthcare plans.
Dave
The US business would be OK probably. But you say nothing about the UK business. That is the important bit. It needs to be substantial with a substantial turnover and real employees left behind in the UK to carry on trading in your absence. I am aware that trading on the internet, you dont need a physical presence in the UK but you do for L1. Your UK company needs to carry on trading in the UK with no drop in turnover for at least a year until you get to renewal. The US compay also has to trade successfully.
L1s are fairly quick to process, quicker than E2. After your first renewal, you can apply to change status to green card. It takes years to get one though. A net trading profit of $40.000 is nowhere near enough to live on here by the way.
seashellmary
12-02-2004, 00:43
Some bag packers do the job because they like to work and get out and meet people. I know some lovely octenarians at my local publix who do this.
However, retiring here with no funds is not a good idea. Course if you can't afford the drugs to keep you alive so long you don't have to worry about it [msnwink]
malmar12
29-02-2004, 03:39
Green cards are a nightmare. My son has worked for about 12 years in FLorida, first flying back and forth, then eventually settling in the Orlando area. He applied for and got U.S. Nationality. His wife of 3 years however, who has been with him and helped with his business from the start, plus becoming a published author in the U.S., has had a battle royal to get a visa and even took a chance leaving the U.S. when her mother died. Luckily nobody questioned her on the way back. She has a son sponsored by a Basket ball Association to attend a sports college in the U.S. for the past 6 years, is married and only now is the visa problem coming to an end. Once you apply, it seems you can't leave - for anything - otherwise your application becomes void. There is no heart in the Visa system. I heard that illegal immigrants in Florida, most of whom arrived in small boats and speak fluent Spanish, are to be given visas because they form an important part of the labour force.......Sound familiar?[msnwink]
It sure does and it really galls. I wish I had gone to the US on a tyre not a visa as I would have more chance of a green card.
Once you apply for a green card, you lose your visa status which is why you cannot normally leave the US while it is pending. If you need to do so, you have to get a travel document called advance parole. This takes months to get, but you do need it otherwise you cannot leave the US at all while your green card application is awaiting approval and it is currently taking two to three years!! Talk about trapped. Imagine if a relative died or something...