What Should I Focus On To Preserve My Immigration Status?
A wise proactive approach includes obtaining a confirmation from immigration counsel and the HR team of what, if any, actions will be required as a result of the restructuring before the change happens, not after. The more proactive a company can be, the more time they are going to have to weigh options. Advanced planning goes a long way towards preventing immigration status problems. The company’s employees are often a key component of the value of the organization. If structural changes are not handled correctly, a loss of visa options for key employees is something that can impact the present value of the company, and may also impact the future value of private companies that later hope to be acquired or to sell their stock to the public.
What Services Does Your Firm Provide in Relation to Mergers, Acquisitions, Etc.?
We review the structure of the transaction to confirm the immigration consequences for any sponsored foreign workers in order to prepare a detailed outline to confirm the available visa options and also to confirm action items that need to be addressed.
The steps to be taken depend on the nature of the transaction. Although some structural changes result in no layoffs, others result in many layoffs and transfers because duplicate functions and overlaps are eliminated in order to maximize company value and efficiency. Those changes may happen through a series of steps or phases, or may happen immediately after the company reorganization is completed.
Additional Information on Mergers, Acquisitions, or Other Kinds of Reorganizations
Anytime a company is going to acquire a new company, or an HR team is taking over the files for an entity that the parent company’s acquired, they should be sure to make a thorough review of the acquired company’s I-9 forms in order to address any I-9 compliance issues. The company should have an I-9 for every employee on payroll. If they do not, or cannot find the form, a new I-9 can be completed but must be completed with the present date, as backdating is not permitted. This is an important step for a company to establish good faith compliance with the applicable laws.
For more information on Preserving Immigration Status, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (619) 677-5355 today.
Contact Us Now for an Assessment of Your Needs - Call (619) 234-8875