If you are a foreign investor interested in running a business in the United States, then you should consider applying for an E2 Visa. To get an idea of what the E2 Visa is all about, here are top questions our clients ask us about the E2 visa. You should use these questions to get a barebones knowledge of what an E-2 visa is all about.
Can I convert an E-2 Visa to a Green Card?
No, the E-2 Visa can’t be converted to a green card. However, as long as the business you operate in the US is in operation, you can renew the visa indefinitely. If you want to get a green card, you should consider an EB-5 visa.
Must I employ US workers to get an E-2 Visa?
There is no specific number of US workers you need to employ to qualify for an E-2 visa. But you have to employ US workers. If you don’t, the immigration authorities will think you established the business just for the E-2 application. This is called a “marginal” and it will make them reject your application. You don’t have to immediately employ US workers, you can include it in your five year business plan.
Do I need to invest 1 million dollars and hire 10 employees to qualify for an E-2 Visa?
No, the visa that has this requirement is the EB-5 immigrant visa. For an E-2 Visa, there is no required investment amount and specific number of employees.
Will I still Qualify for an E-2 Visa with a low investment amount?
There is no minimum dollar amount for your investment to qualify for an E-2 Visa. There is a common myth that the minimum investment amount is $100,000. We at Jurado and Associates, P.A have gotten an E-2 visa for an investment with $15,000 spent and $45,000 in the bank as working capital.
The amount you plan on investing must be equal the normal figure required for that kind of business to be viable. If you want to set up a service business (e.g consulting services) you would need less capital compared to starting a capital intensive business (e.g car manufacturing).
Can I use borrowed funds for the investment?
You can use borrowed funds to start up the investment. However, if the leverage is too much for the business, it might lead to complications in the application process. You can also use money gotten from a gift to start the business.
Are there specific types of businesses I need to set up?
There are no specific types of businesses required. As long as it makes a profit, you would qualify for the E-2 visa. The only types of investments not allowed are passive investments like real estates and stocks.
Do I need to have a business plan?
Yes, you need to have a business plan spanning five years. This is one of the documents immigration officials use to vet your application.
Do I need a Lawyer
Yes, you need a lawyer. Just like other immigration regulations, the application process for an E-2 visa is quite complicated. The documentation you need to provide is quite extensive. You also need a legal brief that connects your case to the provisions of the statute concerning the E-2 Visa.
If you have made up your mind to get an E-2 Visa, you can contact Jurado & Associates, P.A. We can help you with the application process, creating a business plan, and setting up your company. Easily reach us on (305) 921-0976, or send a mail to Romy@juradolawfirm.com.