Hello, everyone Yifei He your immigration lawyer. Last week I talked about the L 1 Visa which is a Visa for individuals from overseas, who work for a foreign company, to transfer to the US to start either a U. S. Branch or transfer their employment from from one company overseas to the same company in the US. And I told you about the L 1 Visa, how the maximum validity period is seven years and during those seven years the Individual can work, they can live here, they can bring their family here. But what happens after those seven years? Because as you recall, the L 1 is not a permanent visa, it's a nonimmigrant, temporary visa. So during those seven years, actually you can transition from the L 1 to a green card by filing what is called the EB 1 C Visa. And the EB 1 C Visa is very similar to the L 1 Visa. Except it's titled EB 1 C. It's titled the multinational manager Visa, Manager or Executive, similar to the L 1 A. Which is for managers and executives from overseas.
The requirements for the L 1 and the EB 1 C are pretty much conceptually similar. For example, the individual must have been working overseas for at least one year in the past three years if they're starting a business in the US, or they're already in the US on L 1 status, prior to entering the US they must have been working for the foreign company for at least one year. And the foreign company and the US company must share common ownership of at least 50% stocks. So the same person, the same entity that owns the foreign company must also own the US company. So it's sort of the same entity that you're transferring into. And a lot of people in L 1 status they need to continue working.
So they've demonstrated their ability to work in the US. And one of the criteria for the EB 1 C, is that you must have been working in the U. S. for one year. Or the company that you're trying to get into must have been active for one year. And to meet that criteria you can either: be in the L 1 status working for that company, which proves that one year requirement, or with the start of a new company, you can purchase a company who's already been established for one year. So then that would meet that one year requirement. And finally for every immigrant visa in the United States, to sponsor an immigrant visa, to a green card, you have to show that the employer has the ability to pay the wage of the intending immigrant . And with executives and managers, these wages can be substantial, over six figures, or seven figures. So the company you have, they have to show they have had at least one year of profits greater than the offered wage, or assets greater than liabilities. And again, this is for executive managers. So common low level employee would not will not work. It would have to be someone who manages C suite executives, someone who has broad discretionary decision making skills, someone who's way up there in the corporate ladder. So this is for someone who's successful, who's already in L 1 status, who wants to become a green card holder through the successful operation of a multinational company. So again, this is the EB 1 C Visa. My name is Yifei He. I can help you attain this Visa and we put the grant in immigrant, Thank you.