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Hey!
I have a query regarding E2 visa as a can'adian. I am purchasing an existing business with 11 employees for 200k . I will be giving 100k as down-payment and rest within one year of purchase. this 100k will be released to the seller upon approval of the E2 from the escrow account. I am putting 70k in the bank as "operating funds". it is an existing running business which is making money and as soon as i take over, i can use the fundss towards the expenses.
. All the money stated above for the investment will be coming from canada.
My question is- do i need to transfer the money in the escrow account in the states or can i keep it in a Canadian account? I will be losing a huge amount when converting the currency from CAD to USD. is there a way around it ? maybe keeping it in TD or RBC which have branches both in USA and Canada? Also, are the funds sufficient? I am currently residing in the US and practicing in that business.
thank you so much for any guidance
I have a query regarding E2 visa as a can'adian. I am purchasing an existing business with 11 employees for 200k . I will be giving 100k as down-payment and rest within one year of purchase. this 100k will be released to the seller upon approval of the E2 from the escrow account. I am putting 70k in the bank as "operating funds". it is an existing running business which is making money and as soon as i take over, i can use the fundss towards the expenses.
. All the money stated above for the investment will be coming from canada.
My question is- do i need to transfer the money in the escrow account in the states or can i keep it in a Canadian account? I will be losing a huge amount when converting the currency from CAD to USD. is there a way around it ? maybe keeping it in TD or RBC which have branches both in USA and Canada? Also, are the funds sufficient? I am currently residing in the US and practicing in that business.
thank you so much for any guidance
