buy & sell on e2

[pags]

has anyone got any experience or knowledge of if you sell one business whilst on e2 and buy another??

from my brief research i gather you can sell your business provided you either escrow the proceeds pending buying another and/or can demonstrate you are actively looking to buy another qualifying business.

has anyone got any more info please

[chris]

Pags,
I haven't done it, so my comments are not based on fact. My understanding of the E2 Visa is that your visa is approved based upon a specific business. Should you dispose of that business you are in violation of the terms of the visa. If you create say a holding coproration as the umbrella and that business is under it, you could add new businesses without if affecting the visa as the original business activity is still there. I suspect you would need to get re-approval should you change horses. Your new business may turn out to be one that would not gain visa approval. Go to the London Embassy site and check out the FAM rules in the E2 section. That might provide a clue.

[mark]

Hi

Good question but not sure of the answer

If the visa goes with the business you purchase subject to visa approval then tend to agree with Chris

Most people should only buy the assets of a business and not the whole company. From my understanding , if you purchase the whole business you would also buy any debts and litigation that goes with the business

[chris]

If pags is in the Florida Forum, someone has asked exactly the same question and one answer beggars belief in thet someone gained an E2 visa for one business, then had 6 prop mgmt co's that they either tagged on or replaced with and they hauled him in for the 3rd degree, all because management company wasn't on his visa approval.
I we sure sure we haven't all moved to Russia??

[pags]

According to my visa lawyer(and another i got a second opinion from) provided it is disposing of assets held under the E2 corp and not the corp itself its ok. Then obviously another business needs to be found. Since this case was because of litigation, the lawyer also advised to get the lawyers to draft a summary of what has happened and that the funds are held in escrow pending another business purchase-again of assets.

theory albeit simply put, is, if you sell a truck and buy a new one it is simply an asset of the business

[JulieC]

As long as the truck is still an F150 as a Silverado may not fit the embassys bill.

[pags]

Juliec
i presume that was a fecicios remark? i think thats how you spell it.

[JulieC]

Not at all, I was just playing on the last sentence of your previous post to make the point that if you got an E2 for a pool care company of a certain size and wish to sell that and still be able to renew your visa it may be a good idea to look for another pool care company of a similar size and not something entirely different as how do you know that the something entirely different would be seen as qualifying by the embassy.