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raising funds to start a business without a visa

 
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josh000

posts: 1

Dec 02, 2008 10:31 AM ET    Quote  Report Abuse
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Hello all,

I had some questions about raising money in the US. I am an australian, and have a brilliant business plan developed, which I would like to show to VC`s. I wish to incorporate a company based around my idea and run business from the US.

My problem is that the US has no visa for coming over to start a business like an entrepreneur visa, and that the possible visas, E2, E3 and L2 are not suitable. I have almost no money so can not be an investor, and my company is not already established and trading with the US for one year to get an L2.

I really, really, would like to avoid having to have a partner if possible, and I am wondering if it is possible to show my business plan to VC firms or banks and receive funding in order to get an investor visa without it looking like employment, and with the firm or bank being secure that I will not just run of with funds.

Is there any way I could get investment capital to apply for an E2 without it looking like employment, or any way that a VC firm would want to give it to me personally, as there is no way to ensure I would just take of with it?

I wish to immigrate and get a visa for the purposes of setting up my business and managing it, there is no visa for this, but I am wondering if some kind of loophole is possible?

As a side question, I currently do not have any patents, and would like to know the risk in showing a business plan to banks or VC firms without patent protection, especially if they will not sign an NDA. What protection do I have as a non american citizen?

Many thanks for any replies
FastVentures

posts: 306

Dec 02, 2008 12:33 PM ET    Quote  Report Abuse
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You can certainly establish and own a business in the U.S. (Corporation) without having a visa, for so long as you don’t work for it. Since investors usually expect you to do that, you’re faced with a dilemma.

Here is what you can do:

You can establish an entity in Australia and then formally establish a wholly-owned subsidiary in the United States. This subsidiary can either be an LLC or Corporation, which would serve as your gateway to the U.S.. Over time, and assuming that you are employed by the Australian entity, you can apply for an L2 visa, which would enable you to come to the U.S. and work for the US offshoot. I’m not sure though if the L2 is an immigrant visa.

The other alternative is seeking a partner here in the U.S. who is willing to go into business with you. Under this scenario your U.S. partner would need to have/establish a U.S. entity and be willing to sponsor your application for a work permit. He would need to make a case based on the fact that your expertise and experience is vitally important to his business and that the job can’t be done by an American citizen.

Finally, you can forgo these steps and establish a U.S. business yourself and try to operate it remotely. I’m not sure if that’s possible in your case. You may also want to look into applying for visitor’s visa.

If it’s just about being able to access the capital markets in the U.S., there are ways to do that without having to jump through all these hoops.

If you’re interested, please feel free to PM me to discuss this in greater detail.

I hope this helps.



Mark




-------------------------


Jackson Steiner
http://www.JacksonSteiner.com

Advanced Document Design for entrepreneurs, intermediaries, and the financial services industry.
http://www.Publications.FastVentures.com
patentandtrademark

posts: 1332

Dec 06, 2008 9:21 AM ET    Quote  Report Abuse
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very few will sign the NDA - and it is tough to enforce.

-------------------------

James Lindon, Ph.D. Patent Attorney
Lindon & Lindon, LLC
Cleveland, Ohio
Patents, Trademarks, Copyrights, Pharmacy Law, Litigation
[this is not legal advice - provided for discussion only]
Intellectual Property for the Individual and Small Business: Identify, Protect, Enforce, Defend.
"Fools rush in where angels fear to tread."
http://www.LindonLaw.com
robertj

posts: 1458

Dec 06, 2008 12:20 PM ET    Quote  Report Abuse
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josh,
Regarding your side question about protecting your IP;  we tell our clients to establish a process for disclosure, so that one doesn`t tell everybody they talk with- everything in the first conversation.


-------------------------

Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com


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