Starting or expanding your business in the United States can be an exciting endeavor. Many entrepreneurs and investors opt for E (Treaty Trader) and L (Intracompany Transferee) visas to facilitate this process. Frequently, clients pursuing E and L visas engage our services for the development of their business plans. While crafting these plans, we often identify various shortcomings, encompassing both business-related and immigration-related aspects. We diligently communicate these identified issues to both the client's immigration attorney and the client itself for a more thorough assessment.
One of the recurring challenges we come across involves clients who are unaware that their chosen business activities in the U.S. necessitate proper licensing. In this blog, we will delve into a discussion of activities that require licensing and how the absence of such licenses can impact visa applications and business operations.
Common Licensing Challenges
Financial Advisor Licensing:
Working as a financial advisor in the United States typically necessitates licenses such as the Series 7 or Series 65. These licenses ensure that professionals are qualified to provide investment advice and legally sell financial products. At Visa Business Plans we often discover issues when foreign investors seeking to act as financial advisors are unaware of these licensing requirements, leading to clients having to change their business models and as a consequence, wasting valuable time and resources.Health Practitioner Licensing:
Professions in the healthcare sector, including doctors, nurses, and other medical practitioners, require licensing from state authorities. Engaging in professional practice without the required licenses is considered illegal and can have negative consequences, impacting both business operations and immigration status.Architectural Licensing:
Architects must obtain licenses from state architectural boards to work on projects in the United States. We often find out that foreign architects may not be aware of these requirements, which can hinder their ability to practice their profession and fulfill their business plans.
The Significance of Licensing Awareness
Legal Compliance:
Acquiring the required licenses is crucial for adhering to the law. Neglecting this requirement can lead to fines, penalties, and even the closure of your business.Immigration Success:
Understanding and meeting licensing requirements is essential for a successful E or L visa application. Immigration officials closely scrutinize the business plan to ensure that the proposed business activities comply with U.S. laws and regulations.Business Viability:
Licensing often plays a pivotal role in the viability of your business in the U.S. Without the necessary licenses, your business may not operate as intended, potentially resulting in financial losses and damage to your reputation.
Expanding your business to the United States through E and L visas can indeed be a rewarding endeavor. However, it also presents a range of complexities that need careful consideration. One critical element in this process is being fully aware of the licensing requirements. It is essential to conduct thorough research on the specific licenses your business will require, and it's advisable to do this early in the planning stage. This proactive approach ensures not only the legal and successful operation of your business in the U.S. but also enhances your prospects for a seamless transition in both your business and immigration endeavors.
If you find yourself in need of guidance or assistance in researching the specific licenses required to operate legally in the United States, please don't hesitate to reach out to us. We are here to help you navigate the complexities of licensing requirements, ensuring that your business ventures on American soil are both legally compliant and successful. Your success is our priority, and we look forward to assisting you in achieving your business goals in the U.S.
Visa Business Plans is led by Marco Scanu, a certified coach from the University of Miami with a globally-based practice coaching Fortune 1000 company executives, entrepreneurs, as well as professionals in four different continents. Mr. Scanu advises clients on turnaround strategies and crisis management.
Mr. Scanu received a bachelor’s degree in Business Administration (Cum Laude) from the University of Florida and an MBA in Management from Bocconi University in Milan, Italy. Mr. Scanu was also a Visiting Scholar at Michigan State University under the prestigious H. Humphrey Fellowship (Fulbright program) with a focus on Entrepreneurship, Venture Capital, and high-growth enterprises.
At present, Mr. Scanu is the managing partner and CEO at Visa Business Plans, a Miami-based boutique consulting firm providing attorneys and investors with business planning services in the areas of U.S. and Canadian immigration, SBA loans, and others.
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