Purchasing an existing business in the United States can be an exciting prospect for foreign entrepreneurs interested in obtaining an E2 investor visa. This visa allows qualified individuals to enter and work in the U.S. by investing in a legitimate business. However, for those unfamiliar with U.S. business practices, buying a business in Florida comes with some key considerations.
One of the most important steps is conducting thorough due diligence on the business opportunity. As a foreign buyer, you may not be accustomed to reviewing typical U.S. business documents like financial statements, tax records, and bank statements. It's essential to engage a certified public accountant (CPA) to analyze these materials. A competent CPA can determine if the documents accurately portray the business’s finances and operations.
Even with a CPA on your team, you must educate yourself on the target business. Take time to fully understand the business model, products/services offered, strengths, weaknesses, and risks involved before moving forward. A CPA can confirm whether documents are valid, but it's up to you to determine if it's a worthwhile investment that aligns with your goals and E2 visa application.
Remember that you bear the consequences of any rushed or uninformed decisions. Thorough due diligence takes time, but is crucial to avoid costly mistakes when buying a Florida business. Partnering with a knowledgeable business broker can also help navigate this complex process. With persistence and the right support, foreign entrepreneurs can successfully purchase Florida businesses – like those in Orlando, Tampa or elsewhere – to obtain an E2 visa. Just be sure to do your homework every step of the way.
The due diligence process will likely require reviewing and analyzing documentation such as:
Having a comprehensive list of requested documents will help you conduct thorough due diligence and avoid overlooking critical information when buying a Florida business as a foreign investor seeking an E2 visa.
Sylvain Perret is a business professional who has been living in the United States since 2010. Along with his wife Daphnee, he has established several businesses in the country, including Integrity International Brokers, an agency based in Orlando where he works as a business broker, real estate broker, business consultant, and business plan writer. Over the years, he has helped numerous clients from around the world achieve success in their projects to create or take over a company in the United States with an E2 visa. He is highly knowledgeable about U.S. immigration issues and is the author of the book "S'expatrier aux USA grâce aux visas d'entrepreneurs," which is soon to be translated into English. Sylvain is also a Certified Business Intermediary (CBI) by the International Business Brokers Association and is regularly consulted on issues related to this field. At the age of 50, Sylvain chose to enhance his expertise in finance and strategy by pursuing a Master of Business Administration from the University of Central Florida. He successfully graduated in May 2023, adding a valuable finishing touch to his knowledge. He is active on LinkedIn and Twitter, where he shares his insights and experiences with a wider audience.
Last Updated on November 23, 2023 by Sylvain Perret