An E2 visa is a non-immigrant visa granted to foreign investors who are investing in a business in the United States. This visa is good for two years and can be renewed for an unlimited number of two-year extensions. A few requirements must be met before an applicant can obtain this kind of visa.
Among the most basic is a strong and detailed business plan. The details must include how the investment will be spent and how the company will benefit the U.S. Generally, the amount of money required is not a hard and fast rule.
For example, a small IT firm might qualify with an investment of $10,000. However, an established franchise with a proven track record might be a better option.
It might also be the case that the minimum amount of money needed is in the range of $100,000 or more. While this does not mean the investment is unaffordable, it does suggest that the investment is substantial. Moreover, it is also possible to be approved with an amount as low as $35,000 in a bank account, as long as the startup costs are covered.
Another thing to consider is the proportionality test. This is a sort of inverted sliding scale that compares the total amount of money invested with the cost of buying or starting a viable enterprise. In other words, it is a requirement that the applicant invest a majority of the sum of money in the venture.
Although the E2 visa may not have a specific dollar amount, the E2 is a good way for foreign investors to obtain residency in the United States. It is also a useful tool for entrepreneurs to get a jumpstart on their businesses in the United States. When the visa is in place, the entrepreneur can start exploring permanent residency options.
Investing in the right kind of business can be a significant factor in obtaining an E2 visa. One must keep in mind that a company can only qualify if it is owned by a treaty investor, meaning a citizen of a country that has a trade or investment treaty with the United States.
An E2 investor’s visa is not for the faint of heart. Applicants must meet a number of other requirements as well, including operational control, records of expenses and proof that funds were not obtained illegally. Even so, some investments do not qualify. If an E-2 applicant is investing in an established franchise, the budget should be in line with the business’s budget.
For the best chances of success, it is a good idea to work with an experienced attorney. A lawyer who specializes in immigration law will charge a flat fee, which includes the services of an attorney. These attorneys will advise you of all the best practices in completing your E2 application and will also ensure that you are fully prepared for the consulate’s questions.
A successful E2 visa applicant should also be prepared for a lengthy process. It can take two weeks to five months to receive an approval. Depending on the consulate, this time frame might vary.