European Investors Establish Residency in Los Angeles County

Investor Representation

E2 Visa European Investors: All Citizen’s throughout Europe including other Nations around the Globe. Any and all Persons desiring to move to Los Angeles California, own and Operate a Restaurant Business can establish US Residency, safely in California under the “E2 Visa” treaty. Richard Stein and Roschard Paticchio Stein are ready, able and capable to offer his type of service and opportunity in full compliance with US Law, meeting all E2 Visa requirements in conjunction with Buyer Attorneys.

The Deal: Penthouse Advisors INC., Advise, Counsel and Brokerage will assist in finding Restaurants throughout Los Angeles County by, Door Knocking “Search, Find, Negotiate” techniques.

  1. Vacant “Second Generation Restaurants” fully equipped “lease only” deals: Meaning $0 Key Money. Understandably it is illegal for Los Angeles Brokers and Property Owners to charge potential Tenants for the previous Tenants left behind, “FF&E” Furniture, Fixtures, Equipment.
  2. Established Restaurant Businesses For Sale: Off market, E2 Visa approved.

Close The Deal Fast: Roschard Paticchio Stein and Richard Stein Owners of Penthouse Advisors INC., “Full Service” Restaurant Business Corporation are experts in Negotiating, fast, deal closing.

Move Into Los Angeles: When Establishing a Restaurant to own under a E2 Visa opportunity within Los Angeles County, Penthouse Advisors INC., can and will purchase for their Client List a Residential House or Condo For Sale. Alternatively, Leasing is highly recommended, until the Restaurant Business is established.

Restaurant Alcohol Licensing & Health Department Permitting: Roschard Paticchio Stein and Richard Stein additionally specialize in Restaurant, Alcohol Licensing in conjunction with CA State, Alcohol Beverage Control (ABC), Los Angeles County, Health Department, Code Compliant, Site Inspection are performed by Roschard Paticchio Stein and Richard Stein. Upon clearance and approval an appointment for a Health Department site evaluation with the newly assigned Inspector is generated for permitting and licensing to facilitate the ID. Blueprint submittals to Health Dept., plan-check for stamped approval facilitating fast, Restaurant improvements.

Funds: The Funds should be put irrevocably at risk, meaning they should be used for business related expenses that cannot be recovered in the event the Restaurant Business goes into default.

LOI Purchase Agreement: Penthouse Advisors INC., will draft a “LOI” Letter of Intent, Purchase Agreement at the agreed purchase price to be signed by and between the Buyer and Seller. The agreement is subject to the Property Owner reviewing the strength of the guarantor’s following documentation;

  • a) Credit Report,
  • b) Three (3) consecutive, Strong, Bank statements, showing liquidity.
  • c) Date of birth,
  • d) Place of Birth,
  • e) Residential Address,
  • f) Driver’s license,
  • g) SSN, Social Security or ITIN, Individual Taxpayer Identification Number,
  • h) Business Plan,
  • i) Menu,
  • j) Restaurant experience.
  • k) Resume. 

Guarantor: Only One (1) guarantor to the Lease. This can be a Partner, Family Member that holds the strongest bank account and will be held responsible for all lease payments, lease terms and conditions. Investors must own at least 50% of the Business, giving them operational control, including the Principal investor “Buyer”, can apply for E2 as qualifying employees, who are usually of the same nationality as Buyers (same treaty country). The registration takes a few months depending upon the jurisdiction. The E2 employee visa can be obtained within two weeks. The E2 visa can be extended to other personnel if they meet the conditions as follows; a) Hold a managerial position. b) Handle an entire business or a Key Part of the business. c) Skilled workers or specialists. d) Highly specialized skill capacity in some areas related to the business is difficult to find in the US. e) The employee is necessary to run a principal trade for the investor’s business in the US.

Escrow opened: Upon Property Owner approval of the said Guarantor to the Lease, Escrow will be opened. Drafting a New Lease or Assignment to the existing Lease will be signed by the Property Owner and delivered to Escrow followed by escrow delivering via email to the Buyer, Wire instructions link, whereby 10% of the total consideration, “purchase money” must be wired into the Escrow Trust account. 

Documents for the Buyer Immigration Attorney: The LOI Purchase Agreement, copy of the lease or assignment, business licenses, S-Corp, C-Corp, LLC, federal tax employer’s identification number, BOE, (board of equalization), EDD, (employment development department), Sellers Permit, Health Department certificate, and Escrow instructions are delivered to the Buyer’s Immigration Attorney for processing.

Note: When and If outside the US, application will be processed at the US Consulate, in the Buyer’s country. 

Timing: The E2 visa will allow the buyer to own a Restaurant, Work the Business and Live in Los Angeles County for (2) years. All individuals covered by the E2 visa are allowed to travel in and out of the USA. After (2) years Buyers can extend the E2 visa for another (2) years with unlimited extension on the stay.

The principal investor is allowed to travel abroad and is granted an automatic (2) year readmission period on entering the US. If the family members are traveling along with the primary investor at that time, they can request readmission to the US. However, if the family members travel abroad and return to the US alone, the new readmission period will not be applied to them. The family members of the E2 treaty investors are also eligible to apply for the E2 visas, they can also stay up to (2) years in the US. The dependents and spouses need not be from the same treaty country as the principal E2 visa holder. The spouses can work, however, it is recommended to get a work authorization certificate. Children under the age of 21 cannot work under the E2 visa, however, they are allowed to study. Children after reaching the age of 21 under an E2 visa, need to explore other visa options to stay in the US.

About the Business Purchased: The Business must be open and operating for profit. The Buyer must invest a substantial amount in the Bona fide meaning “in good faith” enterprise in the Los Angeles County. No set dollar figure can be said as a substantial amount for the E2 visa investment. The Restaurant Business cannot be idle or an enterprise on paper.

Buyer Investment: The Restaurant Business investment must have a considerable impact on the US economy and not provide a “living only” situation for the Buyer and the Buyers family. The investment must be a significant economic contribution to the US Economy and not a marginal enterprise, meaning not having the capacity to generate excess funds more than supporting minimal living conditions. 

The predicted future earnings: Earnings must be met within 5 years from the date of acquiring the business activity. Just the intent to invest, or having uncommitted funds in the bank account will not be considered an investment. The substantial investment intends to make sure that Buyer’s business is not a speculative or idle investment, but will become a successful enterprise in the future.

Key Factors: The Buyer should be motivated and committed to making the business a success in Los Angeles County.

Note that an E2 visa, is a non-immigrant visa: Buyers are not eligible for permanent residency. Buyers must provide a written statement to the US Embassy that the Buyers will leave the country once the E2 status expires. The written statement is sufficient, although sometimes the embassy might request additional proof of ties abroad. Ties are the proof that binds Buyers to their country of residence, such as their house, job, or family, etc.

Immigration Interview: The Buyer must have a Business immigration plan on how the investment affects the US economy at the time of the interview. The Buyer must verify a synergy between Buyer skills and Business being acquired. The US Embassy will want a “Corp Brief” about Buyers business activities in the US. The nature of the business the Buyer is investing in, must be relevant to the Buyers professional experience, qualifications, or skills.

Renewing the E2 Visa: After a two year term, renewing the E2 visa, will require proof of achieving such projections mentioned at the time of application. The plan should mention the financial projections and details on how the business will gain sufficient funds to provide for the Buyer and the Buyers Family. The business should also create new jobs. 

Visa Change Status Timing: If in the US, the Buyer can apply directly uscis.gov United States Citizenship and Immigration Services, to change visa status to an E2 Visa. The change of status takes (2) to (3) months. 

Richard Stein & Roschard Paticchio Stein

Private Office Santa Monica

Office: (M) 310-663-3521

8:00am to 7:00pm Mon-Sun

PenthouseAdvisors@gmail.com