L1 Visa – Immigration through Business
L1 visa is a temporary visa that can lead to permanent residence (Green card).
L1 visa is for Intra-company transferees of a non-USA business opening offices in the USA. This visa is used for high-level executives, managers, owners and ‘specialized knowledge’ employees transferring to their employer’s U.S. affiliate.
It must be noted that the initial entry is on a temporary visa, which can be extended for upto 7 years. The spouse and dependent children under 21 years of age can join the L1 visa holder in the USA. The spouse is allowed to work in the USA.
The bottom line is that if a business operator outside USA has a sound business idea and enough money to open an office, and wishes to enter and work in the USA with intent to settle here (green card), this is a fast and useful program.
Advantages of the L1 Visa Program
There are any advantages, unique to L1 program:
- No minimum amount of investment or net worth specified or required.
- L1A visa-holders are eligible to apply for permanent residence after 2 years.
- These applicants do not need a labour certification (as required for H1 visa holders), thus, considerably simplifying the process and reducing the timelines.
- No Quota Backlogs. There are many delays and backlogs for employment and family based green card categories but there is no backlog for the L1A visa category.
- No Sponsor Needed. Foreign companies use their own personal funds and do not require sponsorship from either an employer or a family member.
- Short processing period.