1. E-VISAS A primer on U.S. visas for traders and investors

2. What is an E-Visa?  Treaty Trader visas are for business people who carry out a significant amount of trade in goods or services between the U.S. and Korea.  Treaty Investor visas allow business people to invest in the United States. Treaty Trader (E-1)Treaty Investor (E-2)

3. E Visas  Created by the 1956 Friendship, Commerce and Navigation Treaty between the United States and Republic of Korea.  Intended to enhance or facilitate economic and commercial interaction between the U.S. and Korea.  First the company must qualify, then the employee must qualify.

4. How are E-Visas Special?  No Caps (unlike H visas)  No Limits on Renewals (unlike H and L visas)  No Need to Establish Residence Aboard or Temporary Stay  No Petitions

5. Why E Visas are Important for the U.S.  In FY 2012, E-2 Treaty investors invested almost $4 billion in the U.S.  Over 800 companies applied for E-1 or E-2 visas.  Almost 3000 investor and trader visas were issued from Korea in FY 2012  Since 2005, Korean entrepreneurs using E-2 visas have invested roughly $23 billion in the U.S.

6. Treaty Trader (E-1) FAM Requirements 1. Nationality: 50% Rule 2. Activities Constitute Trade 3. Trade is Substantial 4. Trade must be in Existence 5. More than 50% of Trade must be between the U.S. and Korea 6. Executive or Essential Employee 7. Depart the US when E status terminates

7. Activities That Constitute Trade  Saleable goods  International banking  Insurance  Transportation  Tourism  Communications  Any service item commonly traded in international commerce

8. Trade is Substantial  A continuous flow that should involve numerous transactions over time  Emphasis primarily on the volume of trade conducted  Consider monetary value of the transactions as well  Numerous small value transactions can also be considered international trade

9. Trade Between U.S. and Korea  Over 50 percent of the total volume of the international trade conducted by the treaty trader regardless of location must be between the United States and the treaty country of the alien’s nationality.  When dealing with a branch office, parent company’s total trade must be calculated to determine percentage of trade between Korea and the U.S.  When dealing a subsidiary, the U.S.-based subsidiary’s total trade must be calculated to determine percentage of trade between U.S. and Korea.

10. Treaty Investor (E-2) FAM Requirements

11. Invested or in the Process of Investing  Possession and control of funds  Investment connotes risk  Funds irrevocably committed

12. Business is Real and Operating  No paper organization  No speculative investment (i.e. real estate or stocks)  No non-profit organizations  Must be a commercial enterprise FOR profit

13. Investment is Substantial  No set dollar figure constitutes a minimum amount of investment to be considered "substantial" for E-2 visa purposes.  (1) Substantial in a proportional sense  (2) Sufficient to ensure the treaty investor's financial commitment to the successful operation of the enterprise  (3) Of a magnitude to support the likelihood that the treaty investor will successfully develop and direct the enterprise.

14. Investment is More than Marginal  A marginal enterprise is an enterprise that does not have the capacity to generate more than enough income to provide a minimal living for the treaty investor and his or her family.  The company must demonstrate that their U.S. operations create U.S. jobs or otherwise significantly benefit the economy.

15. Which employees can use E visas?  Three kinds of people can use E visas: owners, supervisors, and essential employees.  Owners have a controlling interest in the business and will develop and direct it.  Supervisors oversee other employees and have responsibility for the firm’s overall operations or a major component thereof.  Essential Employees have special qualifications or experience essential to the firm’s U.S. operations.

16. Other work visas  H visas: Skilled and Unskilled Workers  L visas: Intra-company Transferees  Other visas that permit work

17. H visas: skilled and unskilled workers  The worker must have a bachelors degree or equivalent experience.  He or she must work in a specialty occupation.  Filling the position with a foreign worker must not harm wages or working conditions for American workers in that field.  There must be a shortage of U.S. workers in the field  Filling the position with a foreign worker must not harm wages or working conditions for American workers in that field.  The need for the prospective worker’s services is temporary. H-1B: Skilled WorkersH-2B: Non-Agricultural Workers

18. L visas: Intra-company Transferees  L visas permit international companies to temporarily transfer highly-qualified staff to their U.S. offices.  Petitioning companies must operate in the U.S., Korea, and at least one other country.  Employees must have worked for the petitioning company or an affiliate for at least one year.  Can qualify as either a:  Specialized knowledge worker (who must have extensive knowledge or expertise about the company or its products), or  Manager (whose primary job is overseeing other employees).

19. Other visas that permit work  C1/D visas: Vessel Crew Members  I visas: Media  J visas:Interns and Trainees  O visas: Extraordinary Ability  P visas: Performers  Optional Practical Training (OPT) for students Special classes of visa exist for some kinds of workers.

20. Questions or Comments?