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  Finance | Financial advice | Business advice | Immigration | Money



Dilip Patel
IMMIGRATION

BASICS OF THE E-2 INVESTOR VISA INDIA UNFORTUNATELY ISN’T ON THE LIST
By By DILIP PATEL AND BRENT REES

The E-2 Treaty Investor Visa is a nonimmigrant visa that can permit a foreign national to enter the United States to work in his or her own business. It is available to citizens of certain “treaty countries.” Most Western European countries, such as the United Kingdom, Germany, France, Spain and Italy, are listed as E-2 treaty countries. Certain South Asian countries, such as Bangladesh and Sri Lanka, also are on the list. Although the list is constantly being updated, India unfortunately is not on it.

It is possible to continually extend the E-2 as long as the investor continues to direct and manage a qualifying business. It also allows the spouse and children to accompany the investor in the same E-2 status. The investor’s spouse may obtain open market work authorization and children can attend public primary or high school.

In addition to being a citizen of a treaty country, there are five core requirements for the E-2 investor visa. First, the investment must be “substantial”; which means it must be sufficient to ensure the successful operation of the business. There is no set dollar amount. Instead, each investment is evaluated individually. A critical factor is the amount of personal funds invested compared to loans secured by the business assets. For smaller businesses, the investor would need to show that none of the invested funds were borrowed against the assets of the business. Second, the investment must not be “marginal.” To meet this requirement, the business should show a good income for the owner coupled with the employment of a few U.S. workers. Third, the investment must be a “real operating” enterprise. Speculative or idle investment (for example ownership of land or a home) will not qualify. Fourth, the investor must have control of the funds and the investment must be “at risk” in the commercial sense. This basically means that you must already own the business or have taken all steps required for you to own it. Finally, the investor must be coming to the U.S. to develop and direct the enterprise. An E-2 approved business can even obtain the E-2 visa for a managerial or skilled worker who is a citizen of the same country even if such worker is not an investor.

A recent example of an approved E-2 will illustrate the criteria. A United Kingdom citizen was granted the E-2 visa to manage and direct a fast-food franchise business. He had raised funds by mortgaging his home in England and purchased the business for $150,000. The business employs six workers (some part time) in addition to the owner and showed owner income of $50,000 per year after payment of expenses. His wife was issued a work permit and now works in the billing department of a medical practice. Their children can attend local schools.

Dilip Patel is a Board Certified Immigration Attorney. He is the founder of the Dilip Patel, P.A. law firm (www.dplawfirm.com) and has practiced business and immigration law in the Tampa Bay area since 1990. He can be reached at (727) 712 0066 or by email at info@dplawfirm.com


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