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United States to Welcome Israeli Small Business Investors: E-2 Visa Legislation Passed

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On Monday, June 11, 2012, President Barack Obama signed into law legislation allowing Israeli nationals to apply for E-2 investor visas to the United States. Once implemented, the E-2 visa category will be available to Israeli investors or key employees of Israeli-owned companies that have made, or are in the processing of making, a substantial investment in an operating company in the United States. The legislation, which was sponsored by U.S. Representative Howard Berman (D-Calif.), amends the existing treaty to allow for E-2 investor visas, which would allow Israeli investors to live and work in the United States  in order to be closer to their investments. The legislation, H.R. 3992, was passed by the House Judiciary Committee on March 19, 2012, and thereafter by a unanimous vote in the Senate on May 24, 2012. The existing treaty between the United States and Israel, in place since 1954, has been limited to owners and certain employees of firms engaging in “substantial” (+50%) trade between the U.S. and Israel, commonly known as E-1 treaty traders. The new visa category will expand investment opportunities in the United States for Israelis as eligibility for same is based on the amount of the investment as opposed to the amount of trade the firm engages in. Thus, it will be an option for smaller investors whose investment does not meet the eligibility threshold under the EB-5 immigrant visa category, albeit not directly leading to lawful permanent residence in the United States. The goal of the measure is to foster foreign investment into the United States economy and create new jobs for American workers while greatly enhancing the flow of Israeli innovation and technology to the United States. According to Rep. Berman, “the E-2 investor visa program will strengthen the vital United States-Israel relationship, boost the American middle class, and help grow the economies of both countries.” Implementation of this visa category will not be effective until the terms and conditions of the final agreement are determined between the two countries. One of these conditions is reciprocity, to wit, enactment of an ordinance in Israel enabling Americans to receive work permits in exchange for investments that would lead to creation of jobs in Israel.

The post United States to Welcome Israeli Small Business Investors: E-2 Visa Legislation Passed appeared first on Southwest Florida Employment Law Blog.


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