Visas come in different specifications ranging from student and visiting visas to a business visa. An E2 visa is a business visa that aimed at investors looking to invest in and manage businesses in the US. This article covers the common questions that one may have about an E2 visa.
What is an E2 visa?
As mentioned above, E2 visas are business visas aimed specifically at investors. Thus, it is important to point out that an E2 visa is not an immigrant visa and one cannot apply for residency in the US when they came in with an E2 visa.
However, E2 visas are renewable for periods that could range from five years to 15 years, although they are only renewed when the business continues to meet established criteria such as employing a certain number of Americans and making steady growth and profit.
It is important to mention that not all countries have an E2 visa agreement with the US. Thus, citizens of specific countries that do not have such agreement with the US are not eligible to apply for an E2 visa.
How can one invest in a business for an E2 VISA?
One can invest in the US economy for an E2 visa by starting an independent business or by buying an existing profitable business that is based in the US. Because the goal is to reside in the US and manage or work for the business, when buying a business for the E2 visa, it is important to confirm the profitability of the business as well as the ease of running the business.
The level of investment which one needs to make in a profitable US-based business before making an E2 visa application differs. The investment could be as low as $50,000 and much higher than $100,000. The type of investment is determined by existing regulations on E2 visas and may differ according to the type of business. One of the requirements for E2 visa applicants is that they own a controlling stake in a profitable business in the US.
It is noteworthy that one has to make an investment before applying for the visa. Also, if the application is not successful, the investment may not be revoked, and therein lies some of the risks of applying for an E2 visa.
How E2 visas differ from other similar business visas to the US
Other similar business visas to the US include E1, E3 and E5 visas. E1 visas apply to persons that reside within countries that have maintained a substantial trade relationship with the US.
An E3 visa is similar to an E2 visa. However, E3 visas apply to only citizens from Australia. Australians can apply for an E3 visa when they have expertise in a speciality occupation with proof of the expertise with at least a Bachelor’s degree or its equivalent.
E5 visas may also be compared to E2 visas. However, they cost much more as it requires at least one million dollars. It is thus safe to consider E2 visas as the most cost-effective options.
With an E2 visa, one can live in the US with their spouse and children under the age of 21.