What I Should Know After I’ve Been Granted My E-2 Visa? ( Part II)
E-2 Investor Visa Process.
The E- 2 visa process is finally over. You have come to America and have started to lay roots within your financial investment. You think that you have all your bases covered, but unexpectedly, a new issue is brought up in your household. Let’s contemplate for a second, E-2 visa holders with working spouses and teenage children. One of the benefits of having an E-2 visa is that you are eligible to bring your family over which includes your wife and any children under the age of 21. This allows you to keep your family together as you embark on your new adventure overseas. Although this may seem wonderful at first, understanding certain issues that may arise is important.
1) Can my spouse work while in the States?
The answer to this question is yes. Spouses are eligible to work, outside of the E-2 investment, while in the United States. What does that mean for you? Well, there is a lot to consider here. While this option is good, it may make sense to consider which spouse should apply for the E-2 visa investment and which spouse should obtain the work permit. This is important as it relates to the amount of income that you can bring into the household. For example, if one spouse has considerably more education and the ability to make a substantial income within the U.S., it may be more advisable for that spouse to apply for the work permit and the other spouse to run the investment. This can be helpful in multiple ways as the working spouse may be able to obtain green cards for the family through sponsorship by their employer and it provides financial backing for the family as they embark on a new investment. Please remember that one of the requirements of the E-2 visa program is that it cannot be used solely to support the family while in the U.S., by having a working spouse to bring in discretionary income, you will have proof that the family is not living off of the investment and in fact can support itself in the event that the new business enterprise does not pan out.
2) Can my children work while in the States?
Teenage years are an important milestone, especially in the U.S. During this time, many teenagers are looking to gain financial independence by obtaining their first summer job. Although you may feel like this is a good way for your children to learn certain skills and get accumulated to America culture, you should be advised that children of E-2 visa holders are ineligible for applying for a work permit unless they are actively enrolled within a college program for one year. Please also note that children under the E-2 visa holder are covered until they are 21 years of age. After that time, they will need to seek other options to stay within the U.S. such as enrolling within school or joining the family business as a partner or active employee.
In all, it is vitally important to discuss these issues with your family and lay out a long-term plan as to how you might address these issues. Maybe you’ve never considered your spouse working or what your children will do once they age out of the E-2 visa holder requirement, but being proactive about your next steps will save you from being caught off guard in the future.
If you would like further information regarding this topic or other foreign investor options, please feel free to explore our website at www.immigrationbiz.com.
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Author: Maurica John