If you’re an H1B holder and have plans to start your own business or have just started, you may want to consider investing in stocks and becoming your own boss.
However, one question that comes up a lot when discussing investing in cannabis stocks (and stocks in general) is whether H1B holders can do so or not, since they are not American citizens.
The answer to this question varies depending on the type of stocks you plan to invest in, so let’s take a look at both scenarios.
What Is A H1B Visa
The H1B visa is a non-immigrant visa that allows US companies to temporarily employ foreign workers in specialty occupations.
A specialty occupation is one that requires the theoretical and practical application of a body of highly specialized knowledge, and the attainment of a bachelor’s degree or higher in a specific field is typically required for entry into the occupation.
How To Get An H1B Visa
If you want to come to the United States to work, you will need to obtain an H1B visa. This can be a lengthy and expensive process, but it is possible to do it on your own.
The first step is to find a job that will sponsor your visa. Once you have a job offer, you will need to fill out an application and submit it to the US government.
If your application is approved, you will be able to come to the United States and work for up to six years.
The Benefits Of An H1B Visa
The H1B visa allows highly skilled workers to come to the United States to work in a specialty occupation.
Benefits of the H1B visa include:
– higher wage rate than most other visas
– good for up to six years with options for extensions if needed
– can be used for spouses and children under 21 years old.
– However, there are some disadvantages:
– requirements are very strict, especially with qualifying occupations, qualifications, and education
– employers have to file petition with USCIS every year
– employees cannot start working until they get their approved visa after they apply
Investing In Marijuana And Marijuana Companies
Marijuana stocks have been on a tear lately, and for good reason.
The industry is growing rapidly as more and more states legalize the drug for medicinal and recreational use.
With so many opportunities emerging, you might be wondering if H1B holders can invest in cannabis stocks.
Unfortunately, this may not be possible. It all depends on your immigration status and whether or not you are considered an alien under United States law.
The term alien refers to someone who is not a citizen of the United States and does not have permanent residency (i.e., H1B visa).
In order to invest in marijuana companies, you would need to have a green card or some other type of lawful residency permit that makes you eligible to work in the U.S. with few restrictions.
Unfortunately, most green cards are only given out to those who are sponsored by an employer—not as part of an investor class program (as Canada has done).
So unless you are working full-time for a company that produces cannabis, it’s unlikely you’ll qualify for legal status any time soon.
Even worse, even if you do meet the requirements, there is no guarantee they will give it to you!
Sadly, investing in marijuana companies as an immigrant may be impossible at this point. You’re probably better off looking into other types of investments or getting involved with one of these great weed startups.