# Buying a business in US



## Delicks (Feb 25, 2014)

Hi there

I am a UK citizen having been in a long distance relationship with a US man for 2 years. We meet up a couple of times a year but we now wish to be together on a more permanent basis. Once my UK house is sold, I will have $350,000 cash and our plan is to buy a B&B in California. My researches show that an E2 visa might be the best way forward and having spent hours online getting thoroughly confused, I need some advice, or at least advice on where to get advice. My boyfriend is in the Merchant Marines, currently away, and therefore the job of sorting this out has fallen on me.

How do I get a US bank account? I am struggling to get answers here (as a non-resident). Could I get round this by opening a joint account as he has an existing one in the US?

Could we obtain finance if needed to improve our chances of getting a better established B&B?

Will I need the services of an Immigration lawyer?

Basically, any help would be appreciated as I'm banging my head against a brick wall.

Many thanks


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## Bevdeforges (Nov 16, 2007)

There are folks here on the forums who have more experience with the E2 visa and can give you more specific advice - but be careful with this. The E2 is a non-immigrant visa, and besides just investing in and running a business, you do have to have a certain level of "success" at the business. There is a periodic (annual?) review of the investment, and people have been given 30 days to pack up and leave if their business is not showing "adequate" profits.

Over the longer haul, getting married might be the better approach, though that depends a bit on what your situation is.
Cheers,
Bev


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## twostep (Apr 3, 2008)

What is the objective of you buying and running a B&B in Cali? What experience do you have running a business, running a business in the hospitality sector? What do you know about real estate prices in Cali tourist areas?

If you open a joint account the other party has full access to your funds. You can open an account in the US - personal with W8, business with documentation pertaining to the business.

It is highly unlikely that you will be able to get financing a) lack of US credit history b) high risk venture.

Here are the basics

E-2 Treaty Investors | USCIS
Treaty Trader & Investor Visa


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## Delicks (Feb 25, 2014)

The objective is that we have a life together and hopefully make a living out of it. I am in the financial services industry in the UK but my qualifications will not work in the US. My sister in law has a B&B in theUK so although I have no direct experience, I have knowledge of how this works and what is involved. I know very little about real estate prices in Cali but my boyfriend does.

As for the bank account, how about if we have it on the basis of us both having to sign cheques etc?

I have no credit history, but he does.

But thank you for your help.


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## sharbuck (Dec 10, 2013)

You cannot buy a Bed and Breakfast for $350,000 in California, not even close. Have you done research ? is he helping with additional $$$'s to make this possible ? Then you will have operating costs. I would never take all my $$$ and gamble on a relationship but that's me. Maybe go over as a tourist and take that time to see if things work out first


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## Delicks (Feb 25, 2014)

I realise that I will not buy anything for $350,000. This is just my contribution. He is at sea working his butt off to equal what I will be putting in. I am in the process of researching, this forum being part of that research. I have been over as a tourist several times, at least once a year for the past 8 years but more frequently since my relationship started.


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## twostep (Apr 3, 2008)

Delicks said:


> The objective is that we have a life together and hopefully make a living out of it..


The easiest solution for that is K1 visa and marriage within 90 days in the US. Did you read up on E2 and what is involved in time/money/effort?




Delicks said:


> I am in the financial services industry in the UK but my qualifications will not work in the US. .


What do you do?



Delicks said:


> My sister in law has a B&B in theUK so although I have no direct experience, I have knowledge of how this works and what is involved. .


There is a big difference between having knowledge of something and your legal status depending on its success. 



Delicks said:


> I know very little about real estate prices in Cali but my boyfriend does..


Start getting informed. Google and various B&B associations are good starting points. This may get you started 
Bed and Breakfast Inn Travel Newsletter, Is innkeeping for me?, BedandBreakfast.com



Delicks said:


> As for the bank account, how about if we have it on the basis of us both having to sign cheques etc?.


This venture is a long way from needing checks.



Delicks said:


> I have no credit history, but he does.


He can bring in 49% of the business. Has he tried to pre-qualify for a business loan? 

Cali is big but you have to stay within certain markets and make a profit and create employment and show improvement. A member on another forum has pulled it off but without E2. It was a learning curve to say the least. Do your research and start a biz plan.


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## BBCWatcher (Dec 28, 2012)

May I humbly suggest that if you're not ready for marriage it would be much less expensive and much less risky to simply get another university degree in whatever field interests you. That is, get a student visa and attend a U.S. university, preferably a reasonably affordable one. Earn a graduate degree, for example, and take teaching and/or research fellowship positions to reduce the cost.

Let's suppose for example you spend 4 years getting a Ph.D. That'll cost a heck of a lot less than $350,000, and you'll have an American Ph.D, hopefully from a top university. Plus 4 years to decide whether you want to marry this guy -- or some other guy.


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## twostep (Apr 3, 2008)

Delicks said:


> I realise that I will not buy anything for $350,000. This is just my contribution. He is at sea working his butt off to equal what I will be putting in. I am in the process of researching, this forum being part of that research. I have been over as a tourist several times, at least once a year for the past 8 years but more frequently since my relationship started.


Why do you not go through the links for E2? Your contribution has to drive the gravy train.


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