Did Covid affect your E-2 business’s performance? When the time comes to renew your E-2 registration, you must be sure to broach the topic from the right angle. The consequences of not being successful in a E-2 Registration Renewal can be detrimental to your business, and all of your company’s E-2 Visa holders.
From 2020, many E-2 companies were forced to cut expenses, let employees go, give up on healthy financial projections, perform corporate restructures and even take Paycheck Protection Program loans (PPP loans) from the US government. These actions were necessary to deal with a crisis without precedent for a century. But, in the E-2 Registration Renewal and E-2 Visa Renewal process, it takes strategic planning to be sure that your explanation is not mistaken for jumping on the bandwagon of The Excuse of the Century.
Luckily, there is some leeway being given during the E-2 renewal process. But, with the purpose of the E-2 Visa category being to foster investment in the United States, only so much leniency is possible. Your business will not be the first to blame Covid for less-than-ideal figures. You must be sure that when your turn comes, your application adequately reflects the positive direction your business is now headed in again, so you can take full advantage of the business opportunities that still lie ahead in the US.
Every business and the challenges it has faced in recent years is unique. General advice will not do this time. Any E-2 business which experienced a slowdown should take advantage of the opportunity to devise a tailored E-2 Registration Renewal and E-2 Visa Renewal strategy with a qualified, experienced US immigration lawyer.
Your E-2 Registration and E-2 Visa are critical to your business – you won’t get a second chance to make a second impression.