E-2 Treaty Investor Visa Lawyers in San Diego

Last reviewed for legal accuracy: September 22, 2026.

Feldman Feldman & Associates PC represents E-2 investors throughout the United States and abroad. We assist with startups, purchases of existing businesses, franchises, source-and-path-of-funds documentation, consular applications, changes and extensions of status, E-2 employee cases, renewals, and long-term immigration planning.

What Is an E-2 Treaty Investor Visa?

The E-2 is a nonimmigrant visa classification for qualifying treaty-country nationals who invest substantial capital in a U.S. business and come to the United States to develop and direct that enterprise. The category can also be used by certain executives, supervisors, and employees with essential skills who work for a qualifying E-2 enterprise.

The E-2 can be particularly attractive to entrepreneurs because it does not impose a fixed statutory minimum investment, does not require a U.S. employer to sponsor the principal investor in the traditional sense, and may be renewed repeatedly as long as the business and the applicant continue to qualify.

Eligibility begins with nationality. The investor must be a national of an E-2 treaty country, and the U.S. enterprise must also have treaty nationality. In general, at least 50% of the enterprise must be owned by nationals of the treaty country. See our current list of E visa treaty countries.

What Are the Main E-2 Visa Requirements?

A strong E-2 case generally must establish all of the following:

• Treaty nationality. The principal investor must hold nationality of a qualifying E-2 treaty country, and the enterprise must have the required treaty nationality.
• A substantial investment. The investment must be substantial in relation to the actual cost of purchasing or creating the business.
• Capital at risk. The investor’s funds must be subject to partial or total loss if the business fails. Merely holding uncommitted money in a bank account is generally not enough.
• A real and operating commercial enterprise. Passive or speculative investments generally do not qualify.
• A non-marginal business. The enterprise must have the present or future capacity to generate more than a minimal living for the investor and family, or otherwise make a significant economic contribution.
• Control and direction. A principal investor must be coming to develop and direct the enterprise, usually demonstrated through ownership and operational control.
• Intent to depart when E-2 status ends. E-2 is a temporary nonimmigrant classification even though it can often be renewed for many years.

How Much Money Do You Need for an E-2 Visa?

There is no fixed minimum dollar amount required for an E-2 investment. The correct question is whether the amount invested is substantial in relation to the total cost of purchasing an existing business or establishing the type of business being created.

This is often referred to as the proportionality test. Lower-cost businesses generally require a higher percentage of the total business cost to be committed than very expensive businesses. For example, an investor establishing a relatively inexpensive service business may need to commit most of the startup cost before applying, while an investor purchasing a much more expensive enterprise may be able to satisfy substantiality with a lower percentage of the total value.

We would not recommend choosing an arbitrary investment number simply because it has been successful in another person’s case. E-2 planning should begin with the economics of the specific business.

Source and Path of E-2 Investment Funds

An E-2 application must do more than show that money reached a U.S. business account. The case should establish where the investment funds came from, that they were lawfully acquired, that the investor possessed and controlled the capital, and how the money moved from its original source into the U.S. enterprise.

Depending on the facts, qualifying funds may come from sources such as personal savings, business income, the sale of property or other assets, gifts, inheritance, or qualifying loans. Loans secured by the assets of the E-2 enterprise itself generally do not count as the investor’s at-risk capital.

Common documentation can include bank statements, tax records, employment or business records, sale agreements, gift documentation, loan documents, wire records, currency-conversion evidence, and U.S. business account statements. The goal is to create a coherent, traceable source-and-path-of-funds record rather than simply submitting a stack of financial documents.

What Does “At Risk” and “Irrevocably Committed” Mean?

The investment must be placed at commercial risk with the objective of generating a profit. Funds that remain entirely uncommitted and revocable generally do not qualify. By the time of filing, investors often have already spent substantial amounts on the enterprise through a purchase, lease, equipment, inventory, professional services, licenses, build-out, marketing, payroll, or other legitimate business expenses.

In some transactions, a properly structured escrow arrangement can allow a purchase to close upon E-2 approval while still demonstrating a genuine commitment of capital. The terms of the escrow must be drafted carefully so that the investment is not merely speculative or freely revocable.

Can You Use E-2 for a Startup, Existing Business, or Franchise?

Yes. E-2 can work with several different business models, including:

• New startups. The investor establishes a new U.S. enterprise and commits the capital needed to make it real and operational.
• Purchases of existing businesses. The investor acquires a qualifying ownership interest in an operating company. The purchase agreement, valuation, closing structure, ownership, and source of funds are especially important.
• Franchises. A franchise can provide an established business model and predictable startup costs, but it is not automatically approvable simply because the franchisor is well known.
• Professional and service businesses. Lower-overhead businesses can qualify, but substantiality is measured against their actual startup cost, so a high percentage of the required capital may need to be committed.

Buying passive real estate by itself does not create E-2 eligibility. A qualifying E-2 enterprise must be a real, active commercial business. For a broader discussion, see Can I Get a U.S. Visa if I Buy Property?

What Is the E-2 Marginality Requirement?

An E-2 enterprise cannot exist solely to provide a minimal living for the investor and family. The business should have the present or future capacity to generate substantially more than that level of income or otherwise make a significant economic contribution.

For a new business that has not yet reached full operation, a detailed and credible business plan can be critical. The plan should be grounded in the actual business rather than generic projections and may address:

• revenue and expense assumptions;
• staffing and hiring plans;
• market demand and competition;
• the investor’s role and qualifications;
• capital already committed;
• operating milestones; and
• the projected path toward a sustainable, non-marginal enterprise.

E-2 does not impose a universal requirement to create a particular number of jobs. Job creation can nevertheless be strong evidence that a business is more than marginal and can be especially important for a new enterprise relying on future growth.

Do You Need to Own 50% of the E-2 Business?

The U.S. enterprise generally must be at least 50% owned by nationals of the treaty country in order to possess treaty nationality. Separately, the principal investor must show that he or she will develop and direct the business. A 50% or greater ownership interest is the most common way to demonstrate control, but control can sometimes be established through other corporate arrangements depending on the ownership and governance structure.

Ownership documents should be internally consistent. Articles, operating agreements, stock or membership certificates, cap tables, purchase agreements, and tax records should all tell the same story about who owns and controls the enterprise.

Can an E-2 Applicant Buy a Business Before the Visa Is Approved?

Frequently, yes. In fact, E-2 eligibility usually requires much more than a future intention to invest. The challenge is structuring the transaction so the capital is genuinely committed without unnecessarily exposing the investor to business risk if the visa is denied.

For acquisitions, we typically review the transaction from the immigration perspective before closing and coordinate with the client’s business, corporate, and tax professionals as appropriate. Immigration counsel should not substitute for independent advice on the commercial terms of the transaction.

Consular E-2 Visa Processing vs. Change of Status in the United States

Applying for an E-2 Visa at a U.S. Consulate

An applicant outside the United States normally applies for an E-2 visa through a U.S. embassy or consulate. E-2 procedures vary significantly by post. Many consulates have their own document-order rules, page limits, online submission systems, or scheduling procedures in addition to the general Department of State requirements.

The visa, if issued, allows the applicant to travel to a U.S. port of entry and seek admission in E-2 status. Visa validity and the permitted number of entries depend on the reciprocity rules for the applicant’s nationality.

Changing to E-2 Status Through USCIS

An eligible applicant who is already in the United States in another lawful nonimmigrant status may in some circumstances request a change to E-2 status from USCIS using Form I-129.

A USCIS change of status is not the same thing as receiving an E-2 visa in a passport. If the person later departs the United States, a visa generally must be obtained at a U.S. consulate before returning in E-2 status unless another exception applies. Unlike other visa types, this requires a full review of the E-2 enterprise at the consulate. Thus, travelling after getting a USCIS approval in E-2 status requires going through the E-2 process twice. This distinction can make consular processing preferable for some clients even when change of status is technically available.

For an overview of common timing and documentary issues, see E-2 Visa Processing and Documentation.

Can Employees Qualify for E-2 Status?

Yes. A qualifying E-2 enterprise may employ certain nationals of the same treaty country as the qualifying E-2 employer. The employee generally must perform executive or supervisory duties or possess special qualifications that are essential to the successful and efficient operation of the enterprise.

These cases are different from principal-investor cases. The company must establish its E-2 treaty nationality as well as the employee’s nationality and qualifying role.

What Benefits Do E-2 Spouses and Children Receive?

The principal E-2 investor’s spouse and unmarried children under age 21 may generally accompany or follow the principal in derivative E status.

E-2 spouses are employment authorized incident to status. Spouses admitted with an E-2S class of admission generally do not need to obtain a separate Employment Authorization Document before working, although they may choose to apply for an EAD. The spouse’s Form I-94 is an important employment-authorization document.

Children in derivative E status may attend school but are not employment authorized merely because they hold derivative E status. Children also cease to qualify as E derivatives when they turn 21, so families should plan early for a child’s independent immigration status if necessary.

How Long Does an E-2 Visa Last?

Two different concepts are often confused: visa validity and period of authorized stay.

• Visa validity is the period during which the visa can generally be used to seek admission to the United States. It varies according to the reciprocity schedule for the applicant’s nationality and may also affect the number of permitted entries.
• E-2 status in the United States may generally be granted for up to two years at a time. Extensions of stay through USCIS may also be granted in increments of up to two years.

There is no fixed maximum number of E-2 extensions. An investor can potentially remain in E-2 classification for many years as long as the enterprise and applicant continue to meet the requirements and the applicant continues to maintain the required intent to depart when E status ends.

Read more about renewing an E-2 visa while the business remains operational.

Can an E-2 Visa Lead to a Green Card?

The E-2 visa does not itself convert into permanent residence. However, an E-2 investor may later qualify for a separate immigrant category.

Possible paths can include:

• EB-5 immigrant investor classification if the applicable investment and job-creation requirements are met;
• EB-1A extraordinary ability for entrepreneurs or professionals with the required level of sustained acclaim;
• EB-2 National Interest Waiver where the applicant qualifies for EB-2 and the proposed endeavor meets the NIW standard;
• employer-sponsored PERM and employment-based green card options; or
• a qualifying family-based immigration category.

Because E-2 requires an intent to depart when E status terminates, permanent-residence planning should be coordinated carefully with future travel, visa applications, and maintenance of nonimmigrant status. See also Can the E-2 Visa Lead to a Green Card?

Benefits of the E-2 Visa

• No fixed statutory minimum investment.
• No annual numerical cap or lottery.
• Available for both new businesses and purchases of qualifying existing businesses.
• Potentially renewable without a fixed maximum number of extensions.
• E-2 spouses are generally employment authorized incident to status.
• Children under 21 can accompany the principal and attend school.
• Qualifying E-2 enterprises can sometimes sponsor executive, supervisory, or essential employees of the treaty nationality.

Limitations of the E-2 Visa

• Principal applicants must have nationality of a qualifying treaty country.
• The investment must remain tied to a real qualifying enterprise.
• The business must continue to satisfy the E-2 requirements at renewal.
• E-2 does not automatically provide permanent residence.
• Derivative children age out of E status at 21.
• A substantial change in the enterprise or employment arrangement can require immigration review and, in some cases, a new filing.

Frequently Asked Questions About E-2 Visas

Is $100,000 required for an E-2 visa?

No. There is no fixed $100,000 minimum or other universal dollar threshold. The investment is evaluated in relation to the actual cost of the enterprise and the other facts of the case.

Can I use gifted money for an E-2 investment?

Potentially yes. A bona fide gift can be a legitimate source of E-2 investment capital, but the source of the gifted funds and the transfer to the investor should be documented.

Can I borrow money for an E-2 investment?

Potentially. The structure and collateral matter. Funds borrowed against the assets of the E-2 enterprise itself generally do not qualify as the investor’s at-risk capital, while a loan secured by the investor’s personal assets may be treated differently.

Do I need a U.S. employer to sponsor me?

A principal E-2 investor does not need a separate U.S. employer in the way an H-1B worker generally does. The qualifying U.S. enterprise is central to the application. See Do You Need a Sponsor for an E-2 Visa?

Can I work for another company while I am the principal E-2 investor?

The principal investor’s E-2 work authorization is tied to the qualifying E-2 enterprise and activities authorized by that classification. The investor should not assume that E-2 status provides unrestricted work authorization for unrelated employers.

Does the E-2 business have to hire U.S. workers?

There is no universal fixed job-creation number for E-2. However, hiring and credible plans for future employment can be important evidence that a business is more than marginal.

Can I buy a franchise for an E-2 visa?

Yes, a franchise can qualify if the overall E-2 requirements are met. The franchise structure does not eliminate the need to prove substantial investment, control, lawful source of funds, real operations, and non-marginality.

Can my spouse work in the United States?

Yes. A qualifying E-2 spouse is employment authorized incident to status. An E-2S Form I-94 can serve as evidence of that employment authorization for Form I-9 purposes.

Speak With an E-2 Treaty Investor Visa Lawyer

E-2 cases are often won or lost in the planning that occurs before the application is filed: choosing and structuring the business, documenting the investment, tracing the source of funds, demonstrating that the enterprise is real and non-marginal, and presenting a credible plan for the investor’s role in the United States.

Feldman Feldman & Associates PC is based in San Diego and represents treaty investors throughout the United States and abroad. Contact our immigration team to discuss an E-2 investment or business immigration strategy.