In closely held corporations, transfer restrictions on common stock are essential to controlling ownership and preventing unwanted third parties from acquiring shares of the company. Unlike publicly traded companies, where shares can be freely bought and sold on secondary markets, shareholders in a closely held private corporation often have stringent negotiated contractual limitations on how and to whom they can transfer their shares. These restrictions protect existing shareholders, maintain business continuity, and ensure ownership remains aligned with the company’s (and/or founder’s) strategic interests.
BlogPasricha & Patel
-
USCIS Announces Fiscal Year 2026 H-1B Cap Initial Registration Period
Categories: H-1B , Immigration , Law Firm , Lawyers , Legal Advice , Registration , USCIS
The U.S. Citizenship and Immigration Services (USCIS) announced that the initial registration period for the Fiscal Year (FY) 2026 H-1B cap will open at noon Eastern on March 7, 2025, and remain open through noon Eastern on March 24, 2025. During this registration period, prospective petitioners and representatives must use a USCIS account online to register each H-1B beneficiary electronically and pay the associated registration fee ($215.00) for each registered beneficiary.
Click Here To Read The Full Article
-
USCIS Lifts COVID-19 Vaccination Requirement for Adjustment of Status Applicants
Categories: Attorneys , Legal Advice , Legal Services , Startup Law , USCIS , Visa Bulletin
Starting January 22, 2025, USCIS will no longer require applicants for adjustment of status to submit proof of receiving the COVID-19 vaccination as part of their medical exam. Previously, applicants were obligated to provide vaccination documentation on Form I-693, the Report of Immigration Medical Examination and Vaccination Record, to meet immigration health requirements.
Click Here To Read The Full Article
-
Updated Filing Procedures for Form I-140
Categories: immigration attorneys , Law Firm , Lawyers , Legal Advice , Legal Services , USCIS
On January 13, 2025, the USCIS announced updated filing procedures for Form I-140, Immigrant Petition for Alien Workers. These changes are in response to the U.S. Department of Labor (DOL) implementing a new system for permanent labor certifications, known as the Foreign Labor Application Gateway (FLAG), which went into effect on June 1, 2023.
Click Here To Read The Full Article
-
New H-1B Modernization Rule
Categories: F-1 , H-1B Visa , immigration attorneys , Immigration Law , Law Firm , Legal Advice , USCIS
In December of 2024, USCIS announced a final rule that will be making significant changes to the H-1B nonimmigrant visa category. According to the USCIS, the purpose of said changes is “to modernize and improve the efficiency of the H-1B program, add benefits and flexibilities, and improve integrity measures” as well as strengthen “program integrity.” These adjustments will primarily affect H-1B specialty occupation workers, but they also include provisions that will have an impact on other nonimmigrant categories such as E-3, F-1, H-2, H-3, L-1, O, P, Q-1, R-1, and TN. Here are some key takeaways from the final rule.
Click Here To Read The Full Article
-
Current Status of BOIR Filing Requirements
Categories: BOIR , Compliance , Corporate Transparency Act , FinCEN , Legal Advice
The hotly contested Corporate Transparency Act (the “CTA”) aims to combat illicit financial activities and promote transparency for businesses. However, legal challenges, including by Texas Top Cop Shop, Inc., have led to temporary halts in its enforcement, specifically pausing the Beneficial Ownership Information Reporting (“BOIR”) requirements mandated under the CTA. Subject to certain exceptions, the BOIR requirements apply to most corporations, limited liability companies (LLCs), and other similar entities created or registered to do business in the United States.
Click Here To Read The Full Article
