Tips and Tricks for the E-2 Investor Visa for Entrepreneurs

In 2024, the United States issued 55,324 E-2 Investor Visas. The number reflects sustained demand from entrepreneurs in treaty countries who view the E-2 as a practical, renewable way to build and operate a business in the United States.

The strong volume of issuances shows that the E-2 visa continues to serve as one of the most relied upon investor pathways, balancing accessibility with clear requirements. For applicants prepared to commit real capital and demonstrate control of their enterprise, it remains a viable route into the U.S. market.

While interest is strong, approval is based on strict legal standards, and the burden is on the applicant to prove that every requirement is satisfied. E-2 denials often result from incomplete documentation or weak evidence of investment.

Strategy 1: Establish Clear Treaty Nationality and Ownership

Eligibility begins with nationality. Applicants must hold citizenship from a treaty country, and at least 50 percent of the business must be owned by treaty-country nationals. Proof often starts with a passport, but when a business has multiple layers of ownership, consular officers want to see the full corporate chain. This might mean producing articles of incorporation, shareholder agreements, and cap tables until it is clear that the required percentage of ownership ties back to treaty nationals.

Example: If a French entrepreneur owns 60 percent of a U.S. restaurant through a French company, officers expect the passport along with documents showing the French company’s ownership structure, proving that non-treaty nationals do not dilute the percentage.

Strategy 2: Commit Funds and Show They Are at Risk

The E-2 requires that invested funds are placed at risk. Officers distinguish between funds committed and funds idle. A signed lease with deposits paid, equipment purchased and installed, or vendor contracts with deposits made all show that the investor has taken financial steps to launch the enterprise. Escrow can work if it is structured so funds are released automatically once the visa is issued.

Example: A technology consultant opening an office in Chicago should show that funds have already been used for office rent, IT equipment, and service contracts, rather than left in a bank account awaiting use.

Strategy 3: Demonstrate a Substantial Investment

There is no set dollar figure for substantial. Officers use the proportionality test: the lower the cost of the business, the higher the percentage of funds that must already be invested. Applicants should prepare a cost sheet that lists the total required capital for the business and then document the share already committed.

Example: A boutique café requiring $150,000 to open would be expected to show that most of that figure has already been paid toward the lease, buildout, and equipment. A logistics firm with $1 million in start-up costs might qualify with $400,000 already invested, since the percentage is sufficient to prove commitment at scale.

Strategy 4: Document the Lawful Source and Path of Funds

Every dollar must be traced from its origin to its final use in the business. This means showing both source and path. Tax returns, payslips, or business earnings confirm the source, while sequential bank statements and wire receipts show the movement of money step by step into the U.S. business account. Officers look for continuity with no unexplained gaps.

Example: If investment funds came from the sale of an apartment, include the sales contract, closing documents, bank deposit records, and the subsequent transfer into the U.S. business account. This allows the officer to follow the entire trail without assumptions.

Strategy 5: Prove the Business Is Real and Operating

A business that exists only on paper does not qualify. Adjudicators expect evidence that the company is active or imminently ready to operate. Incorporation documents, business licenses, tax registrations, payroll, supplier agreements, client contracts, and photographs of premises help prove that the business is genuine.

Example: A digital marketing startup can present signed client contracts, invoices issued, and evidence of employee hires, even if revenue is still in early stages. This proves activity beyond incorporation paperwork.

Strategy 6: Show Control and Executive Direction

The E-2 visa is for applicants who actively run the business. Control can be shown through at least 50 percent ownership or through managerial authority. Operating agreements, bylaws, or board resolutions that define decision-making power are effective. Organizational charts and formal appointment letters also strengthen the case.

Example: An applicant with 50 percent ownership in a U.S. import company should submit the operating agreement showing joint control over hiring, budgets, and contracts. This establishes authority in daily operations.

Strategy 7: Address the Marginality Requirement

The enterprise must be able to generate more than the investor’s personal living. Established businesses should present tax returns, payroll records, and W-2s to prove they already employ U.S. workers. For new ventures, a detailed five-year business plan with credible hiring projections and revenue forecasts is essential. Plans supported by signed contracts or letters of intent from clients carry more weight.

Example: A landscaping company can strengthen its projections by attaching letters of intent from local property management firms. This supports revenue and hiring projections with committed contracts.

Strategy 8: Present an Organized Application File

Even strong evidence can lose impact if presented poorly. Consular posts often expect documents arranged in a binder with a table of contents, divided into sections for nationality, investment, business activity, financial records, and family. This helps officers match documents to requirements and demonstrates professionalism.

Example: Instead of handing over a stack of receipts and contracts, label each section clearly and provide a short cover sheet explaining what evidence is inside. Officers appreciate applications that are simple to review.

Strategy 9: Plan Ahead for Family Members

Spouses and unmarried children under 21 can be included in E-2 status. Spouses may apply for work authorization once in the U.S., and children can enroll in school. Including them in the initial application streamlines processing and avoids later amendments.

Example: A business owner relocating to Florida with a spouse and two children should list them as derivatives from the start, ensuring that the spouse can apply for work authorization immediately after entry.

*Figures are drawn from the cited third-party publications and government datasets and were current as of the publication date. While we strive for accuracy, please independently verify any numbers that are material to your decisions.

Sources:

U.S. Citizenship and Immigration Services (USCIS) – E-2 Treaty Investors
https://www.uscis.gov/working-in-the-united-states/temporary-workers/e-2-treaty-investors
U.S. Department of State – U.S. Visas: Treaty Trader and Treaty Investor Visas (overview)
https://travel.state.gov/content/travel/en/us-visas/employment/treaty-trader-investor-visa.html
U.S. Department of State – Foreign Affairs Manual (9 FAM 402.9) Treaty Trader and Treaty Investor Visas
https://fam.state.gov/FAM/09FAM/09FAM040209.html
U.S. Department of State – Form DS-156E, Nonimmigrant Treaty Trader / Investor Application
https://eforms.state.gov/Forms/ds156_e.PDF
U.S. Department of State – Nonimmigrant Visas Issued by Classification, Fiscal Years 2020–2024 (Table XV(B))
https://travel.state.gov/content/dam/visas/Statistics/AnnualReports/FY2024AnnualReport/Table%20XVB.pdf