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Please explain for what purpose an L-1 visa is provided for?

explain L-1 provided purpose Visa
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Please explain for what purpose an L-1 visa is provided for?

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A. L-1 visa category was formulated to facilitate the transfer or rotation of foreign personnel of an international company into the United States. Although it was originally targeted toward large U S multinational corporations, it has been found to be beneficial for companies of all sizes wanting to seek immediate immigration benefits for their qualifying employees. Apart from this, L-1 visa provides quick access to lawful permanent resident (immigrant) status in the United States.

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