Visa Options When Establishing A Business In The United States
When making a big move like immigrating to the United States, it is important to understand all the different options available to you. However, for foreign entrepreneurs in particular, one option typically stands out among all the others.
As you may have guessed, perhaps the most attractive visa option when starting a business in the United States is the E-2. It is unique among the different types of work visas for several reasons. First, it doesn’t require having a sponsor, which means so you can essentially sponsor yourself. Some other types of visas require someone other than yourself to petition for you, such as an employer or a family member.
Since it isn’t a green card, it doesn’t give you permanent resident status in the United States. However, it can be nearly equivalent. Let me explain why. As long as you’re running your business and it continue to meet the E2 requirements over time, you can continually renew it, and there’s no limit to how long you can remain in the United States. I know many people who have been here for two to three decades on their E-2!
What’s more, the E-2 doesn’t require any specific amount of investment. Instead, the nature of your investment depends on the type of business you’re starting. A lot of people can start a business for an affordable amount of money, making it much more accessible to many more people.
A final reason the E2 Visa is attractive is because it does not require the applicant to apply with USCIS (the immigration service here in the United States). Almost all other types of visas and Green Cards require approval from both USCIS and the US Department of State. An E2 Visa only requires approval from the US Department of State (i.e., at the US Embassy in your home country). The less government bureaucracy involved, the better!
Eligibility Requirements
Eligibility for the E-2 visa hinges on several key factors that you need to understand, especially if you are a prospective applicant.
First, you must recognize that E-2 visas are only available to individuals from specific countries referred to as treaty countries. These countries have established bilateral treaties with the United States, helping foster economic relations and opportunities. There are around 50 of these countries, and having a passport from one of them is the foundational requirement. If you hold dual citizenship, that’s acceptable as long as you possess a passport from a treaty country.
The other important thing is that you are going to come to the United States to develop and direct a business. You will own, run, develop, and direct the business – not someone else.
One of the questions people most commonly ask relates to the investment they are required to make. The immigration regulations do not specify a particular dollar amount; instead, they specify that the investment must be substantial. Determining what constitutes a substantial investment depends on the nature of the business you’re establishing.
For example, if your business plan involves manufacturing electric cars and you invest $75,000, be deemed substantial because such a venture is more capital-intensive. In contrast, someone starting an e-commerce store or an online consultancy may find that $75,000 qualifies as substantial since the startup costs are lower. The key is to evaluate the totality of the circumstances, which makes consulting an attorney essential to understand the specific investment requirements.
Determining The Right Visa
The best way to determine the best visa for your particular set of circumstances is to consult with an immigration attorney. I can say, that, generally, the E-2 is going to be your go-to visa if you’re an entrepreneur. If you wish to move to the States, start a business, and live here, you can be fairly sure that the E-2 is a good fit for you. Nevertheless, I always tell people it’s good to consult with an attorney just to ensure you’re eligible and that it is the right type of visa for you.
For more information on Immigration Options For Foreign Entrepreneurs, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (305) 306-7833 today.
