Always Keep In Mind: FELP is subject to standard credit decision processing as well as all other Red Carpet Lease requirements
L-1A: Enables a multinational employer to transfer an executive or manager from one of its affiliated foreign offices to one of its offices in the U.S. The employee must have worked for the company for at least one year in the preceding three years. It also enables a foreign company which does not yet have an affiliated U.S. office to send an executive or manager to the U.S. with the purpose of establishing one.
L-1B: Equivalent to the L-1A except that it is for individuals described as professional employees with specialized knowledge.
Minimum Term is 24 months and maximum term is 36 months
Term may not exceed the remaining term of the temporary work assignment
Maximum Tier 1 rate cap
A copy of the following items must be included when submitting the funding request to the business center:
- Letter of Employment from the sponsor company reflecting Salary, Terms of Hire, Time in the United States
- Social Security card issued for work in the United States or a Social Security application, if pending
- Housing documents (i.e., rental, lease or mortgage agreement)