E2 Visa: US Investor Rules, Costs & Process 2026

Section A: What is the E2 Visa for Investors?

1. What is an E2 Visa?

The E2 Visa, often referred to as the Treaty Investor Visa, is a nonimmigrant visa for nationals of countries with which the United States maintains treaties of commerce and navigation. It is a primary US immigration route for investors, entrepreneurs and business owners making a substantial investment in a new or existing enterprise in the United States.

An E2 visa allows you to live in the United States and to work lawfully in the E2 enterprise, provided you actively develop and direct the business in which you have invested or are employed in an approved role. Employment authorization is limited to the E2 business only and does not permit work for unrelated employers or activities outside the scope of the approved enterprise.

E2 visa holders are generally permitted multiple entries to the United States during the validity of the visa, subject to inspection and admission by US Customs and Border Protection on each entry. Admission to the US is always discretionary and contingent on continued compliance with the E2 requirements.

E2 visa holders can also be accompanied to the US by their spouse and dependent children under the E2 derivative category. With E2 dependent status, E2 spouses can work in the US without restriction and are not required to be employed by the E2 company.

2. E2 Visa Validity Period

It is important to distinguish between visa validity and period of stay when holding an E-2 visa, as these are not the same. Visa validity determines how long the visa can be used to seek entry to the United States, while the period of stay determines how long you are permitted to remain in the US after each entry.

The validity period refers to how long the E-2 visa itself is valid and is set in accordance with the US visa reciprocity schedule applicable to your nationality. Depending on the treaty country, this can range from a few months to several years and may allow single or multiple entries.

When you enter the US on an E-2 visa, US Customs and Border Protection typically grants a period of stay of up to two years, regardless of how long remains on the visa itself. For example, a UK national may be issued an E-2 visa valid for five years with multiple entries. Each time they are admitted to the US while the visa remains valid, they may be granted a new period of stay of up to two years, provided they continue to meet the E2 requirements.

Admission for a full two-year period is not guaranteed. The length of stay granted is determined by the inspecting officer at the port of entry and may be shorter in some circumstances.

If you remain in the US beyond the visa’s expiration date without departing and re-entering, your lawful stay is governed by the period of stay noted on your I-94 record, not the visa expiration date. Remaining beyond the authorized period of stay can result in unlawful presence and immigration consequences.

If you wish to remain in the US beyond the end of your granted period of stay without departing, you should apply to extend your E-2 status with USCIS by filing Form I-129 before your current status expires.

Visa validity and entry conditions are governed by US Department of State reciprocity agreements, while admission and length of stay are determined by US Customs and Border Protection at each entry.

3. E2 Company Rules

Before an individual E2 visa application can be submitted, the US business must be properly established and operational. This includes forming the legal entity, opening business bank accounts and beginning to deploy the investment funds in furtherance of the business activity.

In some countries, including the UK and several EU jurisdictions, the E2 enterprise must first be registered with the E-Visa Unit at the relevant US Embassy or Consulate before individual E2 visa applications can be filed. Other consular posts adjudicate the enterprise and the individual application together. Where applications are filed with USCIS from within the US, no consular enterprise registration is required.

A wide variety of organizations can qualify under this route, from consultancy practices to technology start-ups and manufacturing businesses, whether providing services or goods, provided the E2 criteria are met in relation to investment, business viability and the investor’s role.

The business must be a bona fide enterprise that is active, for-profit and operating. It must not be marginal, meaning it must have the present or future capacity to generate more than enough income to provide a minimal living for the investor and their family and should demonstrate the ability to make a meaningful economic contribution.

4. E1 versus E2 Visa

Business owners are often unsure whether the E1 or E2 visa is more appropriate for their circumstances. E-1 visas are nonimmigrant trader visas designed for individuals engaged in substantial trade principally between the United States and their treaty country, while the E2 visa is intended for individuals who have made a substantial investment in a US enterprise.

The key distinction lies in the nature of the qualifying activity. The E1 visa focuses on qualifying trade, while the E2 visa focuses on qualifying investment and active business development.

Both visa categories are available only to nationals of treaty countries and allow qualifying investors, traders and certain employees to live and work in the US in furtherance of the approved enterprise. Neither visa provides a direct route to permanent residence, but both can be renewed repeatedly provided the relevant eligibility requirements continue to be met.

If you are unsure which route best fits your commercial activity, professional advice can help determine the appropriate visa strategy.

You can read our extensive guide to the E1 Visa here >>

Section B: E2 Visa Eligibility Requirements Explained

The E2 Treaty Investor visa allows individuals from treaty countries to invest in a US business, either by establishing a new enterprise or investing in an existing one.

As set out in the US Department of State Foreign Affairs Manual (9 FAM 402.9), eligibility for an E2 Treaty Investor visa is assessed against a defined set of statutory and policy requirements. Each requirement is discretionary and evidence-driven, and failure to meet any one element can result in refusal.

a. You are a national of a country with which the United States maintains a qualifying treaty of commerce and navigation.

b. You have made, or are actively in the process of making, a substantial investment in a US business.

c. The business you have invested in is a bona fide, real and operating commercial enterprise.

d. You control the investment funds and have placed them at risk in the commercial sense.

e. The enterprise has the present or future capacity to make a meaningful economic contribution to the United States and is not marginal.

f. You are seeking entry to the US solely to develop and direct the E2 enterprise.

1. Treaty National Requirement

A core eligibility requirement for the E2 Treaty Investor visa is that the applicant holds the nationality of a country that has a qualifying treaty of commerce and navigation in force with the United States.

Only nationals of treaty countries are eligible for E2 classification. Permanent residence, domicile or long-term residence in a treaty country is not sufficient on its own without the requisite nationality.

a. Treaty Countries

E2 treaty countries are those with which the United States has entered into a qualifying treaty permitting reciprocal investor classification. The list of treaty countries is maintained by the US Department of State and can change over time.

Applicants should confirm that their country of nationality is listed as an E2 treaty country before committing funds or proceeding with an application. The current list is published on the Department of State website.

There are separate treaty designations for E1 trader visas and E2 investor visas. Some countries qualify for both categories, while others qualify for only one.

The UK qualifies for both E1 and E2 classification. This treaty applies to British nationals connected to the UK in Europe, the British Isles, the Channel Islands and Gibraltar. It does not extend to nationals of other Commonwealth countries or to the Republic of Ireland.

Following changes reflected in Department of State policy guidance from December 2022, applicants who acquired treaty nationality through an investment or economic citizenship program may be required, in consular E visa cases, to demonstrate that they have been domiciled in that treaty country for at least three continuous years prior to the E visa application.

This assessment arises from consular guidance rather than statute and is applied on a case-by-case basis. It does not apply to applicants who have long-held treaty nationality by birth or descent, nor is it applied retrospectively to existing or former E visa holders.

Where relevant, consular officers may request evidence explaining how treaty nationality was acquired and may seek documentation showing residence and domicile in the treaty country.

Applicants holding dual nationality should ensure the application is presented clearly under the qualifying treaty nationality.

b. Applicant Nationality and Ownership Control

To qualify as a treaty investor, the E2 applicant must demonstrate qualifying control of the US enterprise. This is typically satisfied by showing ownership of at least 50% of the business by treaty nationals.

Ownership may be held directly or indirectly through one or more corporate entities, provided that at least 50% of the ultimate ownership is traceable to nationals of the same treaty country. Control may also be demonstrated where ownership is shared, provided treaty nationals collectively hold the required majority interest.

Employees applying for E2 classification must hold the same treaty nationality as the qualifying owners of the E2 enterprise.

Where a business is owned 50/50 by two investors of different treaty nationalities, the enterprise may qualify under either treaty nationality. In such cases, E2 employees must hold the nationality of the treaty country under which the application is made.

2. E2 Investment Requirement

A defining feature of the E2 visa is the requirement that the investor has made, or is actively in the process of making, a substantial investment in a US enterprise.

This is one of the most scrutinized aspects of the E2 application and is assessed holistically rather than by reference to any fixed dollar threshold.

a. Substantiality of the investment

A substantial investment is one that is sufficient to demonstrate the investor’s financial commitment to the successful operation of the enterprise. Substantiality is assessed using a proportionality analysis that compares the amount invested to the total cost of purchasing or establishing the business.

There is no fixed minimum investment amount and no prescribed percentage. Lower-cost businesses are generally expected to show a higher proportional investment, while higher-cost enterprises may qualify with a lower proportional percentage, provided the overall investment level credibly supports the business.

Any percentage figures are illustrative only. Adjudicators assess whether the investment, taken as a whole, places sufficient capital at risk and is adequate to bring the enterprise to an operational stage with a realistic prospect of success.

b. Investment in a new or existing enterprise

The investment may be used to establish a new US business or to purchase or invest in an existing one. In both cases, the capital must be committed to a real commercial enterprise with the objective of generating profit.

For existing businesses, adjudicators will consider the purchase price or fair market value of the enterprise, its operating history and current revenues. For start-ups, the focus will be on start-up costs, operational expenditures and the credibility of the business plan.

c. Qualifying investment expenditures

Qualifying investments may include, among other things, leasehold commitments, equipment purchases, inventory, professional fees, intellectual property costs, incorporation expenses and marketing expenditures. All claimed investments should be itemized and supported by documentary evidence.

d. Bona fide enterprise

The enterprise must be a real, active commercial undertaking producing goods or services for profit. Passive investments, idle assets or speculative holdings do not qualify. The investor must be actively involved in directing and developing the enterprise.

e. Funds must be irrevocably committed and at risk

The investor must demonstrate control of the investment funds and that the capital has been irrevocably committed to the enterprise. Funds must be subject to partial or total loss if the business fails.

There is no requirement that investment funds derive from corporate earnings. Funds may originate from personal savings, gifts, inheritance, asset sales or other lawful sources, provided the source is legitimate and fully traceable.

f. Lawful source of funds

Applicants must provide clear documentation tracing the lawful source of the invested capital. Loans secured against the investor’s personal assets may be acceptable. Loans secured against the assets of the E2 enterprise itself generally do not qualify.

The proportion of financing used as part of the investment is assessed on a case-by-case basis, taking into account the overall financial risk assumed by the investor.

g. Personal financial exposure

The investment must demonstrate meaningful financial exposure on the part of the investor. While third-party funding may be permissible, the investor’s personal commitment to the success of the enterprise must be evident from the structure of the investment and the associated risk.

h. Non-passive investment

The E2 investment must support an active commercial enterprise. Passive investments such as stocks, bonds or undeveloped real estate held solely for appreciation do not meet the E2 requirements.

3. Intent to depart the United States

The E2 visa is a nonimmigrant classification. Applicants are required to demonstrate an intention to depart the United States when their E2 status ends.

Unlike certain visitor categories, E2 applicants are not required to maintain a foreign residence abroad that they have no intention of abandoning. An intention to depart at the end of authorized stay is sufficient, and future pursuit of permanent residence does not automatically invalidate E2 eligibility if circumstances change lawfully over time.

Misrepresentation of intent at the time of application or entry can have serious immigration consequences and should be avoided.

4. E2 Employee Eligibility

Once an E2 enterprise has been established and, where applicable, registered with the relevant consular post, the business may sponsor qualifying employees for E2 classification.

To qualify as an E2 employee, the applicant must:

a. hold the same treaty nationality as the qualifying owners of the E2 enterprise;

b. be coming to the US to fill an executive, managerial or essential skills role within the E2 business; and

c. intend to depart the United States upon completion of their authorized E2 employment.

Employees applying for E2 classification generally attend a consular interview at the post responsible for the E2 enterprise. They should be prepared to demonstrate their qualifications, experience and role within the organization, with particular focus on managerial authority or the essential nature of their skills to the enterprise.

Section C: E2 Visa Application Process Outline

Applying for an E2 visa involves a structured but highly fact-sensitive process that requires careful sequencing and evidence preparation. The precise steps will depend on whether the application is made through a US Embassy or Consulate or from within the United States through USCIS.

1. Step-by-step guide to applying for an E2 Visa

Step 1: Initial Consultation

Legal representation is not mandatory, but given the discretionary nature of E2 adjudications and the volume of evidence required, most applicants seek professional advice at an early stage. This allows eligibility, investment structure and timing to be assessed before funds are committed.

Step 2: Setting Up Your E2 Company

If the E2 route is appropriate, the US business must be properly established. This includes forming the legal entity, ensuring qualifying treaty-national ownership and control, and preparing the operational framework of the enterprise. The business must be a real, for-profit commercial undertaking and not a marginal enterprise.

Step 3: Transferring Investment Funds

Investment funds are transferred to the US business and placed under the control of the enterprise. The funds must be lawfully obtained and fully traceable to their source.

Step 4: Committing the Investment

Before filing the visa application, the investment must be irrevocably committed to the business. This typically involves spending funds on qualifying business expenses such as leases, equipment, professional fees or inventory. Funds held uncommitted in a bank account are not sufficient on their own.

Step 5: Registering the E2 Enterprise where required

In certain countries, including the UK, the E2 enterprise must first be registered with the E-Visa Unit at the relevant US Embassy or Consulate before individual visa applications can be submitted. Other posts adjudicate the enterprise and individual applications together. Where filing from within the US with USCIS, no consular enterprise registration is required.

Read our full guide to E2 company registration here.

Step 6: Preparing the E2 Visa Application

The application package is prepared, including evidence of the investment, business formation documents, a compliant business plan and supporting financial and ownership documentation.

Step 7: Filing the Application

If applying from within the US, a change of status or extension request is filed with USCIS using Form I-129. Approval grants E2 status only and does not result in a visa stamp. A visa must still be obtained through a US Embassy or Consulate before re-entering the US.

If applying from outside the US, the application is submitted through a US Embassy or Consulate, including Form DS-160. Form DS-156E is required for E2 employees.

Step 8: E2 Visa Consular Interview

Once the application has been reviewed, the applicant is scheduled for a visa interview, subject to consular availability and local processing procedures. There is no fixed timeframe within which an interview must take place.

At interview, applicants are questioned on the investment, business operations, source of funds, role within the enterprise and future plans. Familiarity with the contents of the application and business plan is essential.

Applicants are required to attend with the DS-160 confirmation page, fee receipt, appointment notice, passport photographs and any supporting documentation requested by the consular post.

Read our detailed guide on how to prepare for the E2 visa interview here >>

Step 9: Administrative Processing or Further Evidence Requests

In some cases, applications are refused under section 221(g) of the Immigration and Nationality Act pending further administrative processing or the submission of additional documentation. This is a temporary refusal and not a final denial.

Where further evidence is requested, applicants should respond fully and accurately in accordance with the instructions provided by the consular post. Processing times following a 221(g) refusal vary and are dependent on the nature of the additional review required.

2. Timeline and processing times

Processing times are a key planning consideration, particularly where business operations, relocation and dependent applications are involved.

E2 processing times vary significantly depending on the consular post or USCIS service center handling the application. While some applications may be processed within a few weeks, others can take several months, particularly where additional scrutiny or administrative processing is required.

Premium processing is not available for E2 visa applications filed through US Embassies or Consulates abroad.

Where an application is filed with USCIS from within the US, premium processing may be requested by filing Form I-907. This provides a processing timeframe of 15 calendar days. The current premium processing fee is $2,805.

See our full guide to E2 visa processing times here >

3. E-2 Visa Costs

Applying for an E2 visa involves several categories of cost, which will vary depending on the application route, nationality and complexity of the case.

a. Application Fees

b. Legal Fees

Legal fees vary depending on the complexity of the business structure, source of funds and number of applicants. Given the discretionary nature of E2 adjudications, many applicants view legal support as a risk-management cost rather than a discretionary expense.

c. Business Registration and Set-up Costs

These include state filing fees, licensing costs, lease deposits, professional services and other start-up expenses associated with establishing and operating the US business.

d. Investment Costs

There is no fixed statutory minimum investment. The amount required depends on the nature, scale and capital needs of the business and must be sufficient to support a viable, non-marginal enterprise.

e. Miscellaneous Expenses

Additional costs may include business planning, market research, accounting services, international fund transfers and compliance-related expenses.

f. Travel and Accommodation

Applicants attending a consular interview should also budget for travel and accommodation costs associated with the visa process.

Section D: Which E2 Visa Forms & Supporting Documents?

The E2 documentation and evidentiary requirements are extensive and vary depending on the nature of the enterprise, the investment structure and whether the application is filed through a US Embassy or Consulate or with USCIS from within the United States.

The quality, organization and internal consistency of the supporting documentation are critical. E2 adjudications are discretionary and heavily evidence-driven. Incomplete, inconsistent or poorly presented submissions frequently result in delays, requests for further information or refusal.

Because the E2 visa requires the investment to be made or irrevocably committed before filing, deficiencies in the application can also expose applicants to financial loss if the visa is refused.

1. E2 Application Contents

Section A: Table of Contents and Cover Letter

A detailed cover letter is required. This should clearly describe the enterprise and the applicant and address each E2 eligibility requirement in turn, including:

a. The existence of a qualifying treaty of commerce and navigation between the United States and the applicant’s country of nationality.

b. Proof that the applicant and, where applicable, the enterprise possess the nationality of the treaty country.

c. Evidence that the applicant has invested, or is actively in the process of investing, a substantial amount of capital.

d. Evidence that the enterprise is a real, active and operating commercial business.

e. Evidence that the investment is substantial when assessed proportionally and is more than marginal.

f. Evidence that the enterprise has the present or future capacity to make a meaningful economic contribution.

g. Evidence that the applicant is in a position to develop and direct the enterprise.

h. Where applicable, evidence that an employee applicant will fill an executive, managerial or essential skills role.

i. A statement confirming the applicant’s intention to depart the United States when E2 status ends.

Section B: Forms

Submit the DS-160 confirmation page for consular applications and, where applicable, the DS-156E for E2 employee applications. Include proof of payment of the MRV fee and any post-specific application forms required by the relevant US Embassy or Consulate.

Where the application is filed with USCIS, include Form I-129 and all required supporting schedules. No DS-160 is required for USCIS-only filings.

Section C: Applicant Information

Provide a color copy of the passport biographic page, prior US visas, entry and exit stamps and I-94 records. Include a current resume or CV, evidence of professional qualifications and experience and a signed statement confirming the intention to depart the United States when E2 status ends.

Where relevant, evidence of lawful residence in the country of application should also be included.

Section D: Ownership and Control

Submit corporate formation documents such as Articles of Incorporation or Organization, operating agreements, shareholder registers and share certificates. Evidence must clearly demonstrate that at least 50% of the enterprise is owned or controlled by nationals of the treaty country.

Where ownership is held indirectly, provide an ownership chain and supporting documentation tracing treaty nationality through all relevant entities. Copies of the passports of owners and, where applicable, corporate ownership diagrams should be included.

Section E: Investment Evidence

Provide detailed evidence of all qualifying investment expenditures, including lease agreements, invoices, receipts, contracts and proof of payment. Where a business has been purchased, include the purchase agreement, closing documents and evidence of funds transferred to the seller.

For franchise businesses, include the franchise agreement and disclosure documents. Evidence tracing the lawful source of funds and the transfer of funds into the US enterprise is required in all cases.

Section F: Real and Operating Enterprise

Submit evidence demonstrating that the business is active and operational. This may include licenses, permits, contracts, client agreements, invoices, marketing materials, a website and evidence of ongoing commercial activity.

Where the US business is linked to a foreign parent or affiliate, supporting financial statements and evidence of the foreign entity’s active operations should be included.

Section G: Marginality and Economic Contribution

For established businesses, include recent US federal tax returns, profit and loss statements and payroll records where available.

For new enterprises, provide a comprehensive business plan with a five-year financial forecast, a breakdown of start-up costs and a credible timeline for growth and job creation. The focus is on demonstrating that the business is not marginal and has the capacity to support more than a minimal living for the investor and their family over time.

2. E2 Visa Business Plan

To support an E2 visa application, a detailed and credible business plan is required. While there is no prescribed format, the plan needs to address each of the E2 eligibility criteria clearly and consistently, with evidence-based assumptions and realistic projections.

The business plan is used by adjudicators to assess whether the enterprise is bona fide, non-marginal and capable of supporting the investor’s role in developing and directing the business.

a. Financial Strategy

The business plan should include detailed five-year financial projections, including anticipated revenue, operating expenses and profitability. These projections are used to assess whether the business is more than marginal and whether it has the capacity to support the investor and contribute economically over time.

Projections should be realistic, internally consistent and supported by market data where possible. Inflated or speculative forecasts can undermine credibility and lead to closer scrutiny or refusal.

b. Operational Strategy

The plan should clearly describe the legal structure of the business, ownership percentages and governance arrangements. It must demonstrate that treaty nationals own or control at least 50% of the enterprise and that the applicant plays an active role in developing and directing the business.

Supporting documentation should align with the structure described in the plan, including operating agreements, shareholder registers and management descriptions.

c. Personnel Strategy

The personnel section should outline the anticipated staffing needs of the business, including projected US hires, job roles and timing. There is no statutory requirement to create a specific number of jobs, but the plan should show that the business is not designed solely to support the investor and their family.

Where future E2 employee sponsorship is anticipated, this should be explained at a high level, without overstating future eligibility.

d. Marketing Strategy

The marketing strategy should explain how the business will generate revenue in the US market. This includes identifying target customers, pricing, distribution channels and promotional activity.

Evidence such as marketing budgets, draft contracts, letters of intent or records of meetings can strengthen the application by demonstrating that the business activity is concrete rather than speculative.

e. Applicant’s Skills and Experience

The plan should explain how the applicant’s professional background, qualifications and experience equip them to successfully run the proposed business. The focus is on demonstrating credibility and alignment between the applicant and the enterprise.

Read our detailed guide about what to include in your E2 business plan >>

Section E: After Your E2 Visa is Granted

Once an E2 visa is approved following consular processing, the applicant’s passport is typically retained for visa issuance and returned once the visa has been placed inside. Timeframes vary by consular post.

After visa issuance, the applicant may travel to the United States to begin or continue operating the E2 enterprise. Admission to the US is granted by US Customs and Border Protection at the port of entry and is subject to inspection on each entry.

1. Extending your E2 visa

The E2 visa is a temporary nonimmigrant classification. However, there is no statutory limit on the number of times E2 status may be extended, provided the applicant and the E2 enterprise continue to meet all eligibility requirements.

Extensions can be pursued either by applying for a new visa at a US Embassy or Consulate abroad or by filing an extension of status with USCIS from within the United States. Each route has different procedural and practical implications, including travel considerations.

To qualify for an extension, the E2 enterprise must remain active and operational. The investor must continue to develop and direct the business and maintain qualifying treaty-national ownership or control.

There is no fixed job creation requirement for E2 extensions. However, applicants must demonstrate that the enterprise is not marginal and has the present or future capacity to generate more than a minimal living for the investor and their family. Evidence of revenue growth, business activity and economic contribution is therefore central to renewal adjudications.

Applications to extend E2 status should be filed before the expiration of the current period of authorized stay to maintain lawful status in the United States.

As part of the extension process, applicants must continue to demonstrate an intention to depart the United States when E2 status ends.

2. Does the E2 visa lead to a Green Card?

The E2 visa does not provide a direct route to US lawful permanent residence.

E2 visa holders who wish to remain in the United States on a permanent basis must qualify under a separate immigrant visa category. Possible options may include investor-based, employment-based or family-based routes, depending on individual circumstances.

Any transition from E2 status to an immigrant category requires careful planning. Timing, travel, maintenance of lawful status and consistency of immigration intent are all relevant considerations. A change in long-term plans does not automatically invalidate prior E2 status, provided representations made at the time of the E2 application were accurate and truthful.

Professional advice is strongly recommended before pursuing permanent residence options while holding E2 status.

Section F: E2 Visa Application Refused?

If an E2 visa application is refused, the applicant will receive formal notification setting out the basis for the decision. The implications and available next steps depend on whether the application was adjudicated by a US Embassy or Consulate or by USCIS from within the United States.

E2 refusals most commonly arise from concerns around investment substantiality, marginality, source of funds, business credibility or the applicant’s role within the enterprise. Refusal does not necessarily mean that the E2 route is closed permanently, but it does indicate that the application as presented did not meet the required evidentiary standard.

1. Appealing the Decision

Appeal rights in E2 cases are limited.

Where an E2 application has been adjudicated through consular processing, refusals are generally not subject to appeal or judicial review. This is due to the doctrine of consular non-reviewability. In such cases, the refusal notice will normally confirm that there is no right of appeal.

Where an E2 application has been adjudicated by USCIS, for example as a change of status or extension filed on Form I-129, an appeal may be available through the Administrative Appeals Office (AAO). Appeals must be filed on Form I-290B within the applicable deadline stated in the refusal notice.

AAO review is limited to the evidence that was before the adjudicating officer at the time of the original decision. New or additional evidence cannot usually be introduced at appeal stage. In practice, AAO appeals are rarely successful and should only be pursued where there is a clear legal or factual error in the original decision.

2. Reapplying for an E2 Visa

In many cases, the most practical response to an E2 refusal is to reapply with a materially strengthened application that directly addresses the issues identified in the refusal.

This may involve restructuring the investment, increasing capital commitment, improving source of funds documentation, revising the business plan or clarifying the applicant’s role within the enterprise.

Reapplication requires submission of a fresh application and payment of the applicable government fees.

3. Applying for a Different Visa

Where the E2 route is not suitable or sustainable, alternative US immigration options may need to be considered. Depending on the applicant’s objectives, these could include other nonimmigrant classifications or immigrant visa categories that provide a pathway to permanent residence.

The appropriate alternative will depend on the applicant’s nationality, business structure, long-term plans and eligibility under the relevant immigration rules. Professional advice is recommended to assess options following an E2 refusal and to avoid compounding prior issues.

Section G: Benefits of the E2 Visa

The E2 visa offers treaty-country investors and business owners a flexible nonimmigrant route to live in the United States while actively operating a qualifying business. The benefits are practical rather than permanent and are closely tied to continued compliance with the E2 requirements.

1. Lawful work authorization tied to the E2 enterprise

An approved E2 visa allows the principal investor to work lawfully in the United States for the E2 enterprise only. The visa supports hands-on involvement in developing and directing the business, which is often critical at start-up and growth stages. Work authorization does not extend to unrelated employment or secondary business activities.

2. Travel flexibility during visa validity

E2 visas are generally issued with multiple-entry privileges under the applicable reciprocity schedule. This allows holders to travel in and out of the United States during the visa validity period, subject to inspection and admission by US Customs and Border Protection on each entry.

This flexibility is particularly important for investors managing cross-border operations or maintaining business interests outside the United States.

3. Geographic and operational flexibility

E2 investors are not restricted to a single location within the United States and may expand operations, open additional premises or adjust their business model, provided the core E2 enterprise remains qualifying and the investor continues to develop and direct the business.

Material changes to the business may require prior approval or notification, depending on the nature of the change.

4. Family accompaniment

E2 visa holders may be accompanied by their spouse and unmarried children under the age of 21.

Spouses are authorized to work in the United States incident to status and are not restricted to employment with the E2 enterprise. Children may attend school in the United States but are not authorized to work and will age out of E2 dependent status at 21.

5. Renewable status without a fixed cap

There is no statutory limit on the number of times E2 status may be renewed, provided the enterprise remains active, non-marginal and compliant with the E2 requirements. This allows investors to remain in the United States on a long-term basis, subject to ongoing eligibility.

6. No annual quota

Unlike some employment-based visa categories, the E2 visa is not subject to an annual numerical cap. Applications are adjudicated on their individual merits rather than through a lottery or quota system.

7. Economic contribution

E2 enterprises contribute to the US economy through capital investment, job creation, tax payments and commercial activity. While job creation is not subject to a fixed numerical requirement, the ability to demonstrate economic impact strengthens both initial and renewal applications.

Section H: E2 Visa Success Stories

The following anonymized case examples illustrate how E2 applications can succeed when the eligibility requirements are met and supported by credible evidence. Each E2 case is assessed on its own facts, and outcomes depend heavily on investment structure, business viability and documentation quality.

Case Study 1: The UK Technology Start-up Expansion

A UK national obtained an E2 visa to expand a software development business into the United States. The applicant established a US subsidiary and committed approximately $150,000 toward office space, equipment and initial staffing.

The application demonstrated clear treaty nationality, qualifying ownership and an active role in developing and directing the business. The supporting business plan showed realistic revenue growth and US job creation over time. The E2 visa was approved, allowing the business to establish a US presence and secure commercial partnerships with US-based clients.

Case Study 2: The French Culinary Venture

A French national applied for an E2 visa to open a boutique French bakery in New York City. The investment exceeded $200,000 and covered commercial leasing, kitchen equipment, licensing and initial operating costs.

The application focused on the bona fide nature of the enterprise, active management by the investor and a credible plan for profitability. The business became operational shortly after approval and expanded to additional locations following successful renewals.

Case Study 3: The Canadian Eco-Friendly Cleaning Company

A Canadian entrepreneur established a US-based eco-friendly cleaning products business, investing approximately $250,000 in manufacturing equipment, staffing and marketing.

The E2 application demonstrated a lawful source of funds, meaningful financial risk and a non-marginal business model. The enterprise generated sustained revenue growth and expanded its US workforce over time, supporting successful E2 extensions.

Section I: Ten Most Common E2 Visa Errors and How to Avoid Them

When applying for an E2 visa, investors face a fact-sensitive and discretionary assessment. Many refusals arise not because the route is unsuitable in principle, but because applications fail to address specific evidential or legal expectations.

The following issues reflect the most common weaknesses seen in E2 applications.

1. Investment not considered substantial

The E2 visa does not impose a fixed minimum investment amount. However, the investment must be substantial when assessed proportionally against the cost of establishing or purchasing the business. Applications often fail where the investment level does not credibly support the proposed operations or appears insufficient to bring the business to an operational stage.

2. Business assessed as marginal

If the enterprise appears unable to generate more than a minimal living for the investor and their family, the application is likely to be refused. The focus is on present or future capacity. A credible growth trajectory and evidence of economic contribution are central to overcoming marginality concerns.

3. Investment too easily retrievable

Funds that can be readily withdrawn or recovered undermine the requirement that capital be irrevocably committed and at risk. Adjudicators expect to see binding commitments such as leases, equipment purchases and paid invoices demonstrating real financial exposure.

4. Insufficient personal financial exposure

While third-party funding and certain loans may be acceptable, the overall structure must show meaningful financial risk to the investor. Applications fail where the investor’s personal exposure to loss is limited or unclear.

5. Lack of treaty-national ownership or control

To qualify, treaty nationals must own or control at least 50% of the enterprise. Ownership percentage is distinct from investment amount. Applications are frequently refused where ownership structures are unclear, diluted or inadequately documented.

6. Enterprise not demonstrably bona fide

The business must be active and operational or clearly in the process of becoming operational. Applications relying on undeveloped concepts, speculative ventures or minimal preparatory steps are vulnerable to refusal.

7. Weak or inconsistent intent evidence

Although E2 applicants are not required to maintain a foreign residence abroad, they must intend to depart the United States when E2 status ends. Inconsistent statements or evidence suggesting permanent intent at the time of application can undermine credibility.

8. Mischaracterising E2 employee roles

E2 employees must fill executive, managerial or essential skills roles. Applications often fail where roles are operational, easily replaceable or insufficiently tied to the treaty enterprise’s needs.

9. Inadequate business plan

A weak business plan that lacks realistic financial projections, market analysis or operational detail can result in delays, requests for further evidence or refusal. The business plan is a central document in assessing marginality and credibility.

10. Proceeding without specialist advice

Given the discretionary nature of E2 adjudications and the requirement to commit funds in advance, professional guidance can materially reduce risk. Many avoidable refusals stem from misunderstandings of evidential standards rather than ineligibility.

Section J: Summary

The E2 Visa offers a unique opportunity for Treaty country nationals to invest in and actively manage a business in the United States.

The E2 Visa stands out for its flexibility, offering a path for entrepreneurs to bring their business acumen and investment to the US market. With no direct route to a Green Card, it remains primarily a temporary, albeit renewable, option for those looking to explore and expand their business ventures within the United States.

However, the journey to securing an E2 visa is typically fraught with complexities and challenges, primarily due to the stringent eligibility requirements and the detailed application process.

Each step, from ensuring the substantiality of the investment to proving that the enterprise is not marginal, requires meticulous attention to detail and a deep understanding of the regulatory landscape. The inherent challenges of these requirements can be daunting for many investors, particularly those unfamiliar with US immigration law.

While the E2 visa offers a valuable opportunity for non-U.S. nationals to own and operate a business within the United States, achieving this goal requires navigating a challenging regulatory environment. Engaging with experienced legal counsel is not just beneficial; it is a critical component of the application process that enhances the likelihood of success and ensures that the investment aligns with long-term business goals and immigration objectives.

Section K: Expert E2 Visa Support

The process of obtaining an E2 Treaty Investor visa can be lengthy and complex, in particular the requirements for strong supporting documentation and developing a comprehensive E2 business plan.

If you’re considering the E2 Visa pathway for investing and starting a business in the United States, our team is here to guide you through every step of the process.

NNU Immigration are specialist US immigration attorneys with a wealth of knowledge and experience in E-2 visa applications and company registrations. From initial consultation to application submission and beyond, we provide comprehensive support to ensure your journey is smooth and successful.

Our services include:

a. Initial Consultations: Discuss your business idea, eligibility, and visa process with our experts.

b. Business Plan Development: Assistance in crafting a detailed business plan that meets visa requirements.

c. Legal and Financial Advisory: Expert advice on navigating the financial and legal aspects of the E2 Visa.

d. Application and Documentation Support: Complete support in preparing and submitting your E2 Visa application.

e. Renewal Guidance: Assistance with visa renewals to ensure continued compliance and success of your business venture in the US.

If you’re considering applying for the E-2 Treaty Investor visa or have previously made an E2 visa application that has been refused, contact us.

Section L: E2 Visa FAQs

What is an E2 Visa?

The E2 visa is a nonimmigrant visa for nationals of treaty countries who invest a substantial amount of capital in a US business and actively develop and direct that enterprise.

How much do I need to invest to qualify for an E2 Visa?

There is no fixed minimum investment amount. The investment must be substantial when assessed proportionally to the cost of establishing or purchasing the business and sufficient to support a viable, non-marginal enterprise.

Can my family accompany me if I have an E2 Visa?

Spouses and unmarried children under the age of 21 may accompany the principal E2 holder as dependents. Spouses are authorized to work in the United States incident to status.

How long can I stay in the US on an E2 Visa?

Each admission is generally granted for up to two years. E2 status may be extended repeatedly, provided the business continues to meet the E2 requirements.

Can I apply for a Green Card while on an E2 Visa?

The E2 visa does not provide a direct route to permanent residence. E2 holders may pursue immigrant options if eligible, but this requires careful planning to avoid status issues.

Is there a limit on the number of E2 renewals?

There is no statutory limit on the number of E2 renewals, provided eligibility continues to be met.

Can I work for another company on an E2 Visa?

No. Work authorization is limited to the approved E2 enterprise only.

Do I need to hire US workers?

There is no fixed hiring requirement, but the business must not be marginal and should demonstrate economic contribution over time.

Can I travel outside the US on an E2 Visa?

E2 visa holders may travel during visa validity, subject to inspection and admission by US Customs and Border Protection on each entry.

Can I invest in US real estate on an E2 Visa?

Passive real estate investment does not qualify. Real estate businesses may qualify where the investor is actively involved in developing and directing a commercial enterprise.

Section M: Glossary of E2 Visa Terms

Section N: Additional Resources