Do Children Derive Lawful Status Through A Parent?
It is important to note that E-1 and E-2 visas only cover children through the age of 21. After that, the children must qualify on their own for a separate visa status, which might be F-1 student status or some other qualifying status. EB-5, however, provides permanent status for children, which can carry them past the age of 21 and allow for them to permanently reside in the U.S. They have the right to work here and to return from temporary travel abroad. After five years of permanent residence status, the children may be eligible to apply to naturalize to become U.S. citizens.
Are There Any Specific Tax Considerations To Keep In Mind?
An E-1 and E-2 visa holders may have certain long-term tax advantages over persons who become lawful permanent residents through the EB-5 program. This is because the long-term permanent residents may continue to be subject to U.S. tax laws even after renouncing that status pursuant to the FATCA law. In some cases, they may even be required to pay taxes after they move back to their home country.
E-1 and E-2 status is temporary. E-visa holders will normally be treated as a US tax residents while in the U.S. in E-visa status, but that should not be the case after the status is abandoned. Please note that U.S. tax law is complex and that investors are always advised to work closely with a U.S. CPA or tax attorney to confirm tax compliance and also as a key part of tax and estate planning efforts.
Do These Visas Lead To US Citizenship?
Unlike E-1 and E-2 holders, EB-5 lawful permanent residents may become eligible to naturalize to obtain US citizenship after holding the permanent resident status for five years.
Can I Retire After Holding E-1/E-2 Status For A Certain Number Of Years, And What About EB-5 Lawful Permanent Residence?
E-1 and E-2 status is tied directly to the continuing operation of the business, meaning that the person needs to continue to work in that business, even if it is on a part-time basis. However, EB-5 provides a path to be able to eventually exit the investment and retire while lawfully remaining in the US on a long-term basis.
What Can A Foreign National Do If He Or She Would Like To Obtain E-1/E-2 Status But Does Not Have A Qualifying Passport At This Time?
This has been a growing area of immigration law. When persons come from a country with which we do not have an E-1 or E-2 treaty, they will sometimes seek to acquire citizenship of a qualifying country in order to avail themselves of E-1/ E-2 treaty benefits. This is becoming more common for citizens of a number of emerging economies at this time, including the BRIC countries (Brazil, Russia, India & China). The U.S. does not have E-1 or E-2 treaties with any of those countries yet, and so it is not unusual that an immigration solution for persons coming from those countries may be to obtain a passport from a country with which we do have a treaty. Among others, that may include Grenada, Ireland, Israel, and Canada.
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