Introduction
The E-2 visa is a non-immigrant U.S. visa that allows nationals of treaty countries to enter, live, and work in the United States by investing in and managing a business. It is designed for entrepreneurs and investors who want to direct and develop an enterprise.
Unlike employment-based visas, the E-2 does not require a sponsoring employer. Instead, the applicant qualifies through a personal investment in a business. While it does not provide a direct path to permanent residency (green card), the E-2 can be renewed indefinitely as long as the business remains active and viable. Importantly, the enterprise must be more than “marginal”: it must have the capacity to generate significant income and ideally create jobs for U.S. workers, not just provide a living for the investor’s family.
This makes it an attractive option for entrepreneurs, small business owners, and investors seeking flexibility in how they manage their U.S. presence.
Who is eligible?
Make a significant investment in a genuine, operating U.S. business. While there is no fixed minimum, most consulates generally view an initial investment of around $100,000 USD as acceptable.
Show they will direct and develop the business, either through ownership (at least 50%) or by holding a senior executive role.
Demonstrate that the enterprise is more than “marginal,” meaning it must have the present or future capacity to generate income beyond providing a living for the investor and their family.
Pros
No fixed minimum investment threshold
Relatively fast processing times
Renewable indefinitely
Spouses can work in the U.S. with authorization
Children under 21 can live and study in the U.S.
Key requirements
Substantial investment
What it is
The applicant must invest a significant amount of capital in proportion to the type of business. US consulates and USCIS look at the nature of the business and whether the investment is sufficient to ensure its success. There is no official minimum (unlike the EB-5 program), but the amount must demonstrate financial commitment and genuine risk.
Importantly, the money needs to be mostly invested — not just sitting in your bank account. US consulates and USCIS expect to see that the funds are already committed to the business (spent or placed in escrow). This doesn’t only mean cash: it can also include inventory, equipment, lease payments, or other tangible assets that directly support the operation of the enterprise.
Documentation you need
Bank records showing transfers of funds
Contracts, receipts, purchase agreements
Escrow agreements (if funds are contingent on visa approval)
Evidence of how funds were acquired (tax returns, sale of property, savings)
US Consulates and USCIS may pushback:
The investment amount is too low relative to the business
Funds appear secured by assets of the business (not “at risk”)
Money not yet irrevocably committed
Source of funds
How to overcome that:
Provide detailed proof of all transactions
Show that funds are already spent or committed
Provide comparative data showing the investment is sufficient for the type of enterprise
Examples
$150,000 invested in a restaurant, including lease, equipment, and payroll
$80,000 for a consulting firm with low overhead but detailed business plan
Escrow deposit for franchise purchase, released upon visa issuance
If you are not ready yet:
Consider starting with a smaller business model that requires less capital
Build up funds and ensure they are traceable and legally obtained
Real and operating enterprise
What it is
The business must be active and produce goods or services. Passive investments (stocks, undeveloped land, or rental property without active management) do not qualify.
Documentation you need
Lease agreements, utility bills, payroll records
Incorporation documents, licenses, permits
Proof of sales, invoices, client contracts
US Consulates and USCIS may pushback:
Business appears speculative or not yet operational
No proof of actual commercial activity
How to overcome that:
Show contracts, revenue streams, and operating expenses
Provide evidence of clients, vendors, or employees
Include photographs of facilities or operations
Examples
Coffee shop already open with employees and customer receipts
IT services company with signed client contracts
If you are not ready yet:
Start operations before applying (even on a small scale)
Secure contracts and partnerships in advance
Non-Marginal enterprise
What it is
The business must have the present or future capacity to generate more than minimal living income. USCIS expects E-2 businesses to contribute to the U.S. economy and ideally create jobs.
Documentation you need
Business plan with financial projections
Payroll records or planned hiring
Tax returns (if applicable)
US Consulates and USCIS may pushback:
Business seems capable of only supporting the investor’s family
Financial projections are unrealistic
How to overcome that:
Show evidence of planned job creation
Provide a professional business plan with 5-year projections
Include letters of intent from clients or partners
Examples
A franchise expected to hire 5 employees in its first year
Tech consultancy with contracts projecting $500k in annual revenue
If you are not ready yet:
Strengthen the business model
Seek partnerships or clients to demonstrate growth potential
Legal source of funds
What it is
US Consulates and USCIS require that the capital you invest in the E-2 enterprise comes from a lawful source. This means you must prove that the funds were obtained through legitimate means such as employment income, business profits, property sales, inheritance, or gifts. The government wants to ensure the money is not connected to illegal activities such as fraud, corruption, or money laundering.
Documentation you need
Bank statements showing accumulation of savings over time
Tax returns documenting income
Contracts for the sale of property or businesses
Loan agreements (must be unsecured by the E-2 business itself)
Gift letters and proof of the donor's ability to give the funds
Inheritance documents
US Consulates and USCIS may pushback:
If the paper trail is incomplete or inconsistent
If funds appear to come from unverifiable or suspicious sources
If loans are secured by the assets of the business being purchased
How to overcome that:
Provide a clear and traceable paper trail from the original source of funds to the U.S. business account
Translate all foreign documents into English with certified translations
Anticipate questions about large transfers by including explanations and supporting records
If funds came from multiple sources, prepare a consolidated timeline showing the flow of money
Examples
Savings accumulated over 10 years of employment, documented by pay slips and tax returns
Sale of an apartment, with notarized purchase contract and wire transfer to a U.S. account
Gift from a parent, supported by their bank statements and a formal gift letter
Inheritance supported by a will and probate court documents
If you are not ready yet:
Start organizing your financial documents early, even before investing
Avoid moving large sums without documentation
Keep a consistent trail of transfers to avoid red flags
Application process:
Confirm eligibility (treaty country and business)
Invest or place funds in escrow
Prepare documentation and business plan
File Form DS-160
Consular interview and case presentation
Duration of stay:
Validity depends on nationality (2-5 years typical)
Renewable indefinitely as long as business is viable
Spouses can apply for work authorization
Children under 21 can study but must change status when aging out
Transition options
EB-5 Green Card
Higher investment ($800.000 in specific areas or $1.050.000 in all of the other ones).
EB-1A,EB-2 and EB-3 Green Cards
For those who later qualify based on professional achievements or employer sponsorship.
E-2 Essential Employee
Besides the main investor, the E-2 visa also allows certain essential employees of the enterprise to qualify for status. This category is designed to let treaty investors bring in workers who are critical to the successful operation of the business.
Who qualifies
The employee must share the same nationality as the principal E-2 investor
They must be coming to the U.S. to work in either:
An executive or supervisory role
A position that requires specialized skills that are essential to the efficient operation of the business
The employee does not need to invest money themselves, but must prove their role is indispensable
What “essential” means
“Essential” can be interpreted in different ways by USCIS and consular officers, but generally it means:
The person has specialized knowledge or expertise that is not readily available in the U.S. labor market
The employee’s services are vital for the foreseeable future (not just a short-term training role)
Documentation you need
Employment contract and job description
Evidence of the employee’s qualifications (résumé, diplomas, certifications)
Explanation of why their skills are not easily found in the U.S.
Organizational chart showing how their role fits into the enterprise
US Consulates and USCIS may pushback:
Arguing that the skills can be found in the U.S. labor market
Claiming the role looks more like a routine staff position rather than an essential one
Questioning whether the position is truly executive/supervisory or specialized
How to overcome that:
Provide detailed job descriptions that emphasize the specialized or high-level nature of the role
Include letters from the company explaining why this employee’s knowledge is crucial
Highlight training, certifications, or unique experience that cannot be easily replaced
Show business plans or contracts that require the employee’s expertise
Examples
A head chef from the investor’s home country who brings unique recipes critical to a new restaurant concept
A technical specialist with proprietary knowledge of the company’s equipment or software
A manager who has worked with the company abroad for years and is trusted to oversee U.S. operations
Duration of stay:
Same as the main investor — typically two to five years, depending on the reciprocity schedule for the employee’s nationality
Renewable indefinitely, as long as the employee continues to be essential to the enterprise
Limitations and considerations
Work authorization is tied to the E-2 enterprise. If the business closes or fails, the visa status ends immediately
The visa does not provide dual intent: pursuing a green card while on E-2 can sometimes complicate future renewals, since this category assumes temporary stay
The amount of investment required can be significant, which makes the E-2 less accessible for those without liquid capital
If your country does not have a treaty with the U.S., you are not eligible for this visa at all
Processing times and fees
Processing times vary depending on the U.S. embassy or consulate where you apply. Some consulates can process E-2 visas within a few weeks, while others may take several months. There is no fixed standard timeline.
Unlike the L-1A or H-1B, premium processing is not available for E-2 visas processed abroad (consular applications). However, if you apply from within the U.S. to change or extend status, premium processing may be available.
Fees include:
DS-160 filing fee (currently $315)
Reciprocity fees (depending on your country of nationality)
Legal fees and costs for preparing the application (if you hire attorneys)
Final thoughts
The E-2 visa is a strong option for entrepreneurs who want to establish themselves in the U.S. It balances flexibility and opportunity with the risk that everything depends on the business’s success.
With the right preparation—substantial investment, strong documentation, and a well-designed business plan—you can build a viable path to live and work in the United States, while keeping longer-term immigration strategies in mind.
