Dr. Gregory Finkelson, the founder and president of American Corporate Services, Inc. (ACS, Inc.) will be visiting Vietnam to discuss immigration and business opportunities in the U.S. with potential clients and agents.
ACS, Inc. will celebrate its 27th anniversary in 2018. Dr. Finkelson and his staff have helped over 7,000 clients during the company’s successful history. The company specializes in all areas of immigration to the USA, including EB-5 and E-2 investment visas, L-1 and EB-1C business visas, etc., and assists entrepreneurs and investors to identify and secure bona fide projects that will provide desired results for its clients.
The company offers a wide variety of services including USA companies’ formation, secretarial, bookkeeping and accounting services, legal support and the creation of virtual offices for foreign-national-owned business people wishing to expand their sphere of operations into the USA. The firm has years of expertise in assisting high net worth clients find premier real estate locations for investment and residence.
Dr. Finkelson’s is scheduled to arrive in Hanoi on Saturday, February 17th. His itinerary will include visits to Hanoi, Da Nang, and Ho Chi Minh before returning to San Francisco on March 3rd.
Interested clients and potential agents are invited to contact the ACS, Inc. offices at the web addresses below.
In May 2018, Ho Chin Minh City will host Vietnam’s largest exhibition of overseas properties, investment opportunities and immigration related information. Invitations to the exclusive event are being sent to high net worth individuals currently living in Vietnam.
The revitalization and growth of the country has stimulated over $10 billion of spending by Vietnamese citizens in overseas countries – not exactly the popular image of Vietnam as a third-world country. In 2016 alone, Vietnamese investors spent $3.6 billion purchasing real estate in the United States alone.
Much like China, interest in a U.S. education among Vietnamese students has been growing at a rapid pace, with the number of students tripling over the decade from 2007 to 2016.
When it comes to business investment, Vietnam investments in the U.S. through the EB-5 Immigrant Investor Visa program, second only to China. What is more, both the rate of growth of high net worth individuals in Vietnam and the rate of growth of Vietnamese EB-5 applicants are among the highest in the world.
E-2* and L-1 Visas do not provide a direct path to a Green Card. However, if properly planned and structure that can be used as an indirect path. The E-2* Visa is intended specifically for investors who will have a controlling interest in what the USCIS defines as a “substantial business” with operations in the United States. The L-1 Visa also requires that the beneficiary has a substantial interest in a new business to be established in the U.S.
Once an investor is located in the U.S. on either an E-2* or L-1 Visa, if they set aside $100,000 per year, at the end of five years, they will be able to qualify for the EB-5 Immigrant Investor Visa minimum investment of $500,000 for projects located in Targeted Employment Areas (TEA). (Please note that $500,000 is the current minimum. This amount could change.) By setting aside $200,000 per year, at the end of five years they would be able to qualify for the $1,000,000 minimum investment for projects outside TEAs. Under the EB-5 program, the investor must, in addition to the money invested, create a minimum of 10 jobs for qualifying U.S. residents.
These are not the only paths for Vietnamese citizens to relocate – temporarily or permanently – but they may be the best.
If you are a Vietnamese citizen desiring to move to the United States, we invite you to contact us for more detailed, expert assistance. American Corporate Services, Inc. has successfully helped more than 7,000 clients. We are available to help you.
The EB-5 investment visa has been plagued by long processing times and uncertainties for Chinese investors – especially those who wish to come to the USA in a shorter time. One of the better alternatives available is the EB-1C immigrant visa program for Multinational Managers.
The processing time for EB-1C visas is typically much shorter than several years than for an EB-5 application to be approved. Cases are processed in the order they are received. Although times may vary, it is reasonable to expect that most cases can be handled within eight months – far better than for EB-5.
Of the U.S. employment-based, preferential visas available for foreign nationals, the EB-1C is specifically designed to expedite the transfer of executive and high-level managerial staff employees to a company’s U.S. facilities and to permit those persons and their families to enter the United States as permanent residents. The specific purpose of the EB-1C visa is to promote international commerce by expediting the immigration of current high-level employees to the U.S. to enhance a company’s operations here. Unlike most visas, where individuals are the applicants, the company is the applicant for EB-1Cs.
The USCIS has established simple, but separate, eligibility guidelines for the applicant company and the employee. Since the company must already be operating internationally and in the U.S., the U.S. entity is the petitioner or applicant. The immigrant must have a position in which he or she manages an essential function of the business. Mid-level managers or first-line supervisors do not qualify.
While this process is much more expedient than EB-5, it is also much more complicated. The information here is a summary. Every step includes understanding technical and timing details that require the expertise of qualified immigration attorneys.
If you have questions, we have answers. Contact us. We are here to help you.
Ni Hao, my name is Gregory Finkelson and I am the President of American Corporate Services Inc. law office.
Let me introduce myself and our company, to make sure that you have more information about us:
I was born and raised in Moscow, Russia, and I moved from Moscow to San Francisco in 1991.
The most important part of our introduction is to introduce Cecilia, she is our immigration attorney – a double attorney because she is licensed in China and she is also licensed to practice Law here in the United States.
Now, let’s talk about what we do: we mostly do immigration services and corporate services.
Talking about corporate services – we have registered our company in every state of the United States. We provide bookkeeping, accounting, taxes and legal support for our clients.
Today, we will mostly discuss the immigration services that we provide, and also about business and investment visas.
Let me list the visas that we will discuss today:
Let’s start with the EB5, that is widely known in China.
The EB5 is an investment visa and an immigrant visa. Using this visa, you will get a permanent visa to the United States, known as a ‘green card.’
There are only 3 requirements for the EB5 Visa:
What is important to know is that eventually you don’t have to invest your money into someone else’s business like a regional center or a direct project – you can invest this money in your own project. In such case you will be taking care of your business and have full control of your money.
What is also not well known in China is that you don’t have to invest the whole $500k amount at once. Eventually, you can invest $100k at once, then add maybe $50k or $25k per month – it depends in which business you invest.
The second requirement is 10 new jobs for Americans. If you go through a regional center, they will take care of it – you don’t have to worry. If you go through someone else’s direct project they will also take care of it but they will have to hire direct jobs. The regional center will eventually be able to directly hire for those jobs.
If you have your own project, you have to take care of at least 10 new jobs for Americans.
The good news if you go with your own business is that you don’t have to hire all 10 employees at the start of your operations. Eventually, after you file your I526 application for your EB5 you will have 2-3 years before you need to have the full 10 employees as your staff.
The third thing is proving that your money is legitimate. This can be proved by your tax or business records or real estate sales, or other sources.
Of course I understand that this sounds complicated, but you wont have to do it yourself – you will not be able to do it yourself. Either way, you need to hire attorneys who are licensed in the US and who speak your language to help you with your EB5 application. We will help you from the first step to the end of the process.
That was some brief information about the EB5 immigrant investment visa. Now we will go to the next visa; the L1.
The L1 visa is a work visa and it’s a non-immigrant visa.
How does the L1 work? You have a company in China and your company decides to open a representative office in the US and to transfer you to supervise this US daughter company.
What are the requirements for a Chinese mother company?
First; the company should have been registered for more than three years and you are supposed to have been working at this company for at least one year during the last three.
Your Chinese company is supposed to have enough funds to support your daughter company in the US and all its expenses : office space, your salary, other salaries and advertisements etc for your business.
The L1 visa is valid for several years. It is a non-immigrant visa. You’ll stay in the US for several years and then go back to China.
If you ask me, ‘Gregory, how can I transfer my L1 to a green card?’ – I have an answer for you.
You have 2 options : 1, your business will grow, there will be more funds and you’ll be able to apply for the EB5 that we discussed before.
The second option - if your business grows, you’ll get more staff, more profit, more growth and you’ll be able to switch to the EB1C visa.
The EB1C is an immigrant visa that was created for extraordinary experts in the field of business.
What are the requirements for EB1C?
First of all, you need to show that you have created new business and that the business is very successful.
Secondly, if on the L1 you supervise one secretary and one driver, for the EB1C that is not enough…
In such cases, to qualify for the EB1C visa, you don’t need to supervise employees but you need to supervise managers. These managers will supervise the employees.
Let’s say you have 3 managers and each of them supervises 2 employees, that’s about 10 staff that you will have in your US company.
Also we would recommend that you have made at least $500k profit in the last year, before applying for the EB1C.
So today we have discussed the immigrant visa EB5, the work visa L1 and the EB1C for extraordinary business people.
Let’s discuss one more visa that is not very well known in China: the E2 visa.
Citizens of China are not qualified to apply for the E2 visa because there is no treaty signed between China and the US.
Let me explain how it works : You should be an investor. We would recommend you to invest at least $100k in the US economy… it could be in any field of the US economy.
The positive side of the E2 visa is that is could be valid forever. As long as you keep you investment in the US it will be valid, and you could stay here forever.
If you compare the L1 with the E2, the E2 sounds much easier and more productive for you. You don’t have to have a Chinese company, you don’t have to keep the Chinese company active and you don’t have to create a US company.
It’s much less complicated and it could last forever, unlike the L1 which will only be valid for a number of years.
If you ask me, ‘Gregory we are Chinese –why should we care about the E2 if it is not valid for the Chinese?’
There is one trick, a legal trick:
Our clients, citizens of China who want to obtain the E2 visa, they go to the Carribean and obtain citizenship in the Caribbean.
We work closely with several countries in the Caribbean: St Lucia, Grenada, St Kitts and Nevis etc – they provide citizenship for a pretty good price - $200k - $400k and you can get the citizenship in 2-3 months.
When you invest in the Caribbean you usually have two options: one, to give it to the government, a government related fund or enterprise…and two, to buy real estate for yourself.
So, we will help you to make sure that your investment in the Caribbean will not be risky and you will not lose your money.
This two step process: first, get Caribbean citizenship, then second get the E2 visa as a citizen of the Dominican, for example.
Today, we have discussed the EB5, EB1C, L1 and E2 visas.
Now, I want to give some information on how you can use the EB5 in combination with the L1 visa.
If you file the I526 petition for an EB5 visa, it will take almost 3 years to get a green card (if you are Chinese).
You have two options, here.
1 – you can peacefully wait in China for the 3 years until you get your green card, then go to the US.
2- if you don’t want to wait for years in China, or you want to send your wife and child to the United States earlier, we can help you with option number 2.
We can file the I526 petition for an EB5 visa and at the same time we can file for an L1 for you.
We can expedite the L1 and it will take 2 weeks to get your approval: so, after 2 weeks you can travel to the US.
This L1 visa will allow you to not have to wait for 3 years in China… you can wait in the US and travel easily between the US and China throughout this period.
Today we discussed the EB5 immigrant investment visa, we discussed the L1 work visa, the EB1C visa for extraordinary business people, and the E2 invesment visa.
This will be the end of our discussion today.
Our attorney is licensed in the US – we can help you if you are located in China or in any city or state of United States or any other country.
Come over, you can go to our website, you will see it on the screen – it is www.business-visa-usa.cn.
You can always contact us by phone on (San Francisco area code) 415-682-2550 and also you will see our WeChat account – you can use WeChat and we will talk with you in your language.
Thank you very much and we will see you soon. Thank you, Cecilia – Xie xie!
One other possible way to get a green card is through employment and a common way to get a green card is to start off being transferred by your own company in China, Russia, or Ukraine to the United States.
They transfer you to open up a new branch or to open up a new office in the United States and you can apply for what’s called an L1 Visa. This can usually lead to a green card if the company is successful.
One of the things that you should always remember if you are applying or considering or an L1 Visa: you must be an employee in an executive position of your company in Russia or in China; the company must be transferring you to open up an office, to start an office, and the company must be a successful company. If you have a grocery store in China, that’s not going to get you an L1 Visa.
Your company in China or in Russia must be a large, successful company with many employees, with profits that can be indicated by bank accounts, money in the bank and by paying income taxes. If you’re thinking about opening your own company and applying for an L1 that probably will not work out. The best way to do it is if your large Chinese, Russian or Ukrainian company transfers you to the United States to open up an office.
If you succeed, you’ll usually be given an L1 for 1, 2 or 3 years. It will be a temporary L1 because USCIS wants to see how well your company is doing.
If your company is not succeeding very well, if it’s not increasing its income or its number of employees it has, generally the application for an extension of the L1, there’s a good chance it will be denied because the company has not thrived in the United States, so to speak.
If you’re thinking about an L1, think ahead and plan ahead – don’t just plan for 1 year or 2 years, plan ahead for the likelihood or the definite possibility that your company will be successful and that you will be hiring several or numerous other people. If you’re opening up your own company and there’s only one person, (you) or two people, (you and the secretary) plan ahead so that in one year or two years you’ll have 4 or 5 others that you’ll be supervising and your bank account for the company in the United States will be growing.
Once again, the important thing is that the company that transfers you must be a successful company – you must have had at least one years experience in an executive position or a technical position and the company must be transferring you to open up an office here in the United States. It helps if the company can be incorporated although partnerships or sole proprietorships can also sponsor the L1. In my experience, I usually encourage the Russian or Chinese company to set up a corporation – either in Delaware or in California so that the new company will be a corporate company.