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I am partner in a firm in India for the last 8yrs doing electrical business. The business had a revenue of 4 hundred thousand dollars last yr and this yr it will be over half a million dollars. We are 3 partners and have 4 full time employees. I was in the US from jan 2001 to jul 2006 on an H4 visa ,have returned to India in jul 06 after my wife completed her 6yrs of H1.I want to start a business in the US but may not be able to carry the same nature of business in the US as I have in India. My question is that weather its possible to do a diff kind of business that of the parent company? I will relocate to the US to take care of the new venture. What are the procedures to qualify for L1 and is there any minimum investment reqd to start a new business or can I buy an existing business in the US using L1.If a buy/start a new business in the US do I need to do any minimum turnover in the first year to qualify for an extension. We are a family run business which is in existence for the last 50 yrs ,is it possible for small businesses to apply for an L1.
Please let me know all the details of filing for an L1 and the qualifications for the same .An early reply will be highly appreciated.
Thanks,
Please let me know all the details of filing for an L1 and the qualifications for the same .An early reply will be highly appreciated.
Thanks,
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