# Immigration - Utah



## donz (May 5, 2010)

Hey there, we are looking at possibly buying a business in Utah and wondered where we stand

We are UK citizens, with what equates right now to $160,000 in the bank

Where can I get info as to if we would be accepted in, and if so, would we get a mortgage with a US bank too?


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## Fatbrit (May 8, 2008)

donz said:


> Hey there, we are looking at possibly buying a business in Utah and wondered where we stand
> 
> We are UK citizens, with what equates right now to $160,000 in the bank
> 
> Where can I get info as to if we would be accepted in, and if so, would we get a mortgage with a US bank too?


You're short on an E2 -- which is the only visa that comes to mind with what you've written so far, and in any case it is the visa of last resort and many tears.

Would you get a mortgage on a non-immigrant visa with no credit history and you were self-employed? Maybe -- if you put at least 75% down and were lucky enough to find a broker with access to private funds at an exorbitant interest rate. 

Sorry to be the bearer of bad news.


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## donz (May 5, 2010)

Hi thanks for that, so what about if I were to get a transfer to the states at all? I currently work full time and my company often has jobs in the US

But if we wanted to come and run a business there (even one that we purchase) it's a no go?


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## Fatbrit (May 8, 2008)

donz said:


> Hi thanks for that, so what about if I were to get a transfer to the states at all? I currently work full time and my company often has jobs in the US
> 
> But if we wanted to come and run a business there (even one that we purchase) it's a no go?


Give me all the yes answers from here:
http://www.expatforum.com/expats/am...ica/30374-looking-live-america-will-help.html


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## donz (May 5, 2010)

Do you have specialist skills? dog behaviourist/trainers, Supply Chain skills for me 
*
Do you work in your home country a high-or medium-level position for a multinational employer with offices in the US? yes
* 

* Do you have at least $200,000 in cash and an entrepreneurial spirit? Yes (will have soon)

* Do you have a business in another country and are you in a position to expand your business activities to the US? yes


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## twostep (Apr 3, 2008)

Loan classification is purpose driven so you are looking at two seperate entities - residential mortgage and business loan. 
Without US credit history and a personal guaranty for the business and income limited to a business you needed credit - where do you see the cash flow the income to reliably repay a mortgage?
There are loan programs some underwritten by SBA to assist start ups and small business owners. Underwriting criteria is very restricted, qualification requirements are tight and rates are generally high. Not to mention that you need the business to qualify for E2 and have to show proof of funds up front.
No you cannot "come and run a business". You need a visa and unless you go E5 (500k) on your own you are pretty much limited to E2. Have you read all the fine print? Requirements seem to be getting tougher, non-renewals more frequently.
Your easiest route is via your current employer.


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## donz (May 5, 2010)

ok just asking twostep!  It's not as if we are coming to live off the state after all! we have cash in the bank and have seen a particular business we would like to buy that is the next step on from what my OH does full time (and I part time)

As this is a forum with knowledgeable people on it seemed like the best place to go to start.

Thanks Fatbrit for your help tho


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## Fatbrit (May 8, 2008)

Do you have specialist skills? dog behaviourist/trainers, Supply Chain skills for me 
Won any awards for the dog training/written books/been on the TV? There's a special visa for #1s, and I sniff a slight possibility here.

Do you work in your home country a high-or medium-level position for a multinational employer with offices in the US? yes
If your employer will transfer you and you qualify, then this is a great method. The visa is the L1.

Do you have at least $200,000 in cash and an entrepreneurial spirit? Yes (will have soon)
E2 visa -- the visa of last resort. Read the FAQs here.

Do you have a business in another country and are you in a position to expand your business activities to the US? yes
The current business needs to be suitable (history, structure, employees, ability to be run without your presence) to qualify for an L1 whereby you open a new company here and transfer yourself to it. It's a much better visa than the E2, though, since it provides a direct path to residency.


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## donz (May 5, 2010)

Fatbrit said:


> Do you have specialist skills? dog behaviourist/trainers, Supply Chain skills for me
> Won any awards for the dog training/written books/been on the TV? There's a special visa for #1s, and I sniff a slight possibility here.
> 
> Do you work in your home country a high-or medium-level position for a multinational employer with offices in the US? yes
> ...


ah ok so we could possibly open a new 'branch' as it were in the US? will have a look at the transfer thing too ;-)

awards/books no, getting there to being on tv.....


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## Fatbrit (May 8, 2008)

donz said:


> ah ok so we could possibly open a new 'branch' as it were in the US? will have a look at the transfer thing too ;-)


As I said, it all hinges on the viability of your current company. It'll also need an investment of around the $100k or more mark. Not a path you'd try without an experienced US immigration attorney. ailalawyer.com


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## twostep (Apr 3, 2008)

donz said:


> ok just asking twostep!  It's not as if we are coming to live off the state after all! we have cash in the bank and have seen a particular business we would like to buy that is the next step on from what my OH does full time (and I part time)
> 
> As this is a forum with knowledgeable people on it seemed like the best place to go to start.
> 
> Thanks Fatbrit for your help tho


Rest assured - you will not live off the state. Not on E2. You posted a 160k nest egg and the need for mortgage and business loan:>) 
Get real numbers from that business, check the competition, find out why the current owner really wants to sell, get in touch with breeder/trainer organizations and dig up the dirt. 
FYI - money is getting tight. Banks and particularly big banks are running loans through a matrix only. 
Do you have a realistic business plan? Not just for uscis.gov but for you.
We have a little side business. More to save the whole sale/retail margin on our own toys then to make a profit. The number of customers willing to spend several k on a non-essential item/service and accessories has declined drastically.
Do you have a Plan B aka retreat?


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