E-2 Visa: How to Invest and Live Legally in the US, Guide for Treaty Countries

The E-2 visa is the main gateway for entrepreneurs who want to invest in the United States and live in the country while operating their own business. It does not lead directly to a Green Card, but offers rare flexibility: it allows moving to the US with a spouse and minor children, automatic work authorization for the spouse, successive renewals as long as the enterprise is operational, and the freedom to scale or pivot the operation.

What is the E-2 visa

The E-2 is a non-immigrant treaty visa, established under INA §101(a)(15)(E)(ii), reserved for citizens of countries that maintain a treaty of commerce and navigation with the United States. The State Department maintains the official list of eligible countries. Italy, Spain, Portugal, Argentina, Mexico, the United Kingdom, Germany, France, Japan, South Korea, Turkey, and Canada are among the signatories, forming a universe of more than eighty qualifying nationalities.

The E-2 admits two main categories: the principal investor, who commits substantial capital in a US enterprise, and executive, supervisory, or essential-skill employees of the same treaty nationality, who may be transferred to support the US operation.

When the nationality is not from a treaty country

Citizens of countries not on the list, such as Brazil, India, China, Russia, Vietnam, or South Africa, cannot apply directly. The critical criterion is holding the treaty-country passport before submitting the E-2 application, not merely having a theoretical right to citizenship. The most common routes to resolve this barrier are:

• Citizenship by descent in countries such as Italy, Portugal, Spain, Poland, Hungary, or Ireland, subject to recent generational restriction rules
• Citizenship by residency in countries such as Argentina (two years), Portugal and Spain (five years with ties), Turkey, or Mexico
• Citizenship by investment in Grenada, which maintains an E-2 treaty with the US and is one of the fastest routes for qualified entrepreneurs
• Shifting the strategy to other US categories, such as L-1A for executives with an operational parent company, EB-5 for investors with larger capital, or O-1 for extraordinary ability profiles

How much to invest

There is no minimum amount fixed by law. The regulation, at 8 CFR §214.2(e)(14) and 9 FAM 402.9-6, defines the investment as substantial relative to the total cost of making the business operational. Smaller enterprises require the investment to approach 100% of the total cost, while larger enterprises allow a smaller proportion, according to the so-called proportional inverted scale.

In practice, amounts starting from $100,000 to $150,000 are generally considered defensible for small businesses such as cafes, food franchises, or service businesses. For technology, manufacturing, or acquisition of established companies, the investment typically exceeds $200,000. The capital must be committed and at risk. Deposits into the company’s operating account, equipment spending, leasing, inventory, marketing, and completed hires all count. Untouched reserves do not.

Core requirements

• Nationality of the treaty country, demonstrated by a valid passport at the date of the interview
• Substantial investment, documented and traceable, with a lawful source of funds
• Real and active enterprise, not marginal, meaning it must generate more than mere subsistence for the investor
• Control of at least 50% of the company by the treaty national
• Executive role for the principal investor, with a function to develop and direct the enterprise
• Intent to depart the US at the end of the status, as E-2 does not carry automatic dual intent
• Credible business plan, with financial projections and a job-creation plan for the next five years

Application process

The E-2 application almost always occurs directly at the US consulate, without a prior USCIS petition. The main steps are:

1. Forming the US entity, opening a business bank account, and transferring the capital
2. Implementing the investment, including hiring, commercial leasing, equipment purchases, and initial marketing
3. Assembling the dossier: form DS-160, form DS-156E, five-year business plan, proof of lawful source of funds, financial statements, contracts, and licenses
4. Payment of the $315 MRV fee and scheduling the consular interview
5. Interview, typically at the consulate corresponding to the treaty citizenship country, with visa issuance whose validity ranges from 3 months to 5 years depending on reciprocity

Those already in the US under another status may request a change of status from USCIS via Form I-129, but departure and re-entry to the country require an E-2 visa stamped in the passport, obtained at a consulate.

Stay, renewal, and dependents

Admission at the border is granted for up to 24 months per entry, with successive renewals as long as the business remains operational and meets the criteria. There is no maximum limit on renewals.

The spouse receives E-2 dependent status and, since 2022, is automatically authorized to work in the US through the I-94, without the need for a separate EAD. Unmarried children under 21 may attend public and private schools, but lose dependent status upon turning 21 or getting married.

Sectors with the highest E-2 approval rates

• Established franchises in food, fitness, cleaning services, and personal care
• Independent restaurants and cafes with an expansion plan
• Technology companies, software as a service, and e-commerce with a physical US operation
• Healthcare, aesthetics, dentistry, and wellness clinics
• Civil construction, renovations, and specialized services for the residential market
• Logistics, import, and distribution with an operation connecting the US and the treaty country

Risks and pitfalls

The most common sensitive point is the marginality argument, established at 9 FAM 402.9-6(E). If the consulate determines that the business only generates the investor’s subsistence, the application is denied. A conservative plan, hiring projections, and evidence of local economic impact mitigate this risk.

The source of funds must be fully documented, with statements, real estate sale contracts, tax returns, profit distributions, and international transfers with traceable SWIFT records. Gaps in the chain of evidence lead to requests for supplementation or denial.

Another critical point is the intent to depart. Although E-2 allows indefinite renewals, the applicant must demonstrate a willingness to leave the US when the status ends. Purchasing a residential property and relocating the entire family to the US, without any anchor in the treaty country, may raise consular doubts.

E-2 and the path to a Green Card

The E-2 does not carry dual intent. Those seeking permanent immigration typically combine the visa with a long-term strategy: EB-5, with an investment of $800,000 in a TEA or $1,050,000 in other areas and the creation of 10 jobs; EB-1C for multinational executives with a mature operation; or EB-2 NIW for entrepreneurs whose business has demonstrated national merit. Integrated planning between the E-2 and the future immigration category is what separates a resilient plan from an isolated bet.

Victoria Harper

Editor-in-Chief

Meet the author

Leading journalism and editorial content at Visto n’ Visa, Victoria helps make immigration topics clear, trustworthy, and easy to understand. Her focus is on delivering useful, human, and relevant content for people exploring new paths abroad.