An E-2 visa can be an excellent choice for foreign entrepreneurs and investors who are willing to put a substantial amount of money to obtain an E-2 visa.
According to statistics of the US Department of State, the average approval rate over the past five years is 80%. However, what might have happened to the other 20%?
Generally, E-2 applicants fail when they either do not comply with the requirements or cannot demonstrate that they satisfy the necessary parameters to obtain the visa.
In this article, you will discover all you need to know about investing and proving the investment to obtain an E-2 visa.
Explaining the E-2 Visa – Concept and Requirements
As provided by the US Citizenship and Immigration Service (USCIS), an E2 visa permits a foreign national of a treaty country to obtain a US green card when investing a substantial amount of capital in a business established in the United States.
In this context, a treaty country is a country that maintains treaties of commerce and navigation with the United States.
An E-2 visa allows foreign nationals of specific countries to live and work in the United States legally for up to five years (depending on the applicant’s home country). Thus, applicants can renew the visa for additional periods while their businesses are still active and operating.
What Can Be Considered a Substantial Amount of Capital for an E-2 Application?
The classification of an investment as “substantial” is measured in terms of the total value or cost of the business.
However, the standard tends to be a bit subjective. For example, if an individual wants to establish an E-2 company in Florida with the total enterprise cost estimated at $500,000, a substantial amount of investment would likely be at least US$350,000.
Proving an Investment To Obtain an E-2 Visa – The Evidence Must be Clear and Concise
Entrepreneurs applying for an E-2 visa must be aware that the officer in charge of evaluating the petition will need to see proof of how much money was invested in the E-2 company.
Firstly, is it worth noticing that each officer must evaluate several other applications on a daily basis, so the clearer and more concise an application is, the better.
To ensure the evidence provided has the necessary clarity and simplicity, applicants must ensure to provide detailed information in a well-structured business schedule, preferably using Excel or other similar software.
Proving an Investment to Obtain an E-2 Visa – Structuring the Evidence
In the following topics, we will provide a recommendable manner to structure the business schedule with proof of investment for an E-2 application.
Drafting the First Page
Typically, applicants should start by stating the total amount invested in the enterprise (e.g., $350,000).
Then, it is necessary to break down the total amount into the categories of expenses in the business, which would include rent, computers, business fees, marketing, etc. Applicants must also include any amount held in a business bank account as working capital.
Providing Further Detail
Once the applicant has provided an overview of the business’s total expenses and working capital, it is time to provide further detail.
In a second moment, applicants should explore each of the categories listed on the summary page, creating a separate spreadsheet to lay out the individual expenses of each category.
For instance, the rent category should include information on several month’s rent, including:
- the date of each payment;
- a brief description of the item (e.g., rent paid on January 2021);
- an invoice description of the item (if necessary);
- the amount paid in USD for each item ;
- the reference of proof of payment (e.g., page 10 of investment schedule); and
- the total amount spent on the category.
Notice that all information provided in each category must match the amount informed for the category on the summary page.
Plus, it is crucial to provide the reference of proof of payment. For each item, applicants should provide documentation showing the amount expend on it, such as providing a scan of invoice(s) or receipt(s) of each transaction.
Another essential aspect is to organize the reference of proof of payment in specific pages of the investment schedule. This way, it is easier to put the reference in the spreadsheet to ensure the officer evaluating the petition will turn to each item’s respective page.
We Can Help You Obtain an E-2 Visa
Attorney Romy Jurado, Esq., is an experienced immigration attorney who can guide you throughout the process of obtaining an E-2 visa. Call Attorney Romy B. Jurado today at (305) 921-0440 or send an email to Romy@jflawfirm.com to schedule a consultation.