Building a Business in the U.S. with an E-2 Visa

Building a Business in the U.S

Building a Business in the U.S. with an E-2 Visa

Today's newspaper reports that the first big freeze of the year is coming. Coincidentally, many peoples' thoughts turn to sunnier climates, particularly Florida. But not many of us can afford to be on a permanent vacation there. Owning your own business, living and working in Florida or elsewhere in the United States is the next best thing. An E-2 visa can facilitate your dream.

E-2 Visa Criteria

The E-2 investment visa is a non-immigrant visa for investors of certain eligible countries, including the United Kingdom. In broad terms, an investment of circa $200,000 is usually needed to start a new business or purchase an existing business. The investment must be substantial enough to demonstrate that it is more than supporting the investor's family. The investor must be in a position to develop and direct the business, and if the applicant is an employee, he or she must be in an executive or supervisory position or possess skills essential to the business' operation.

Typically, the first E-2 visa is granted for a period of 2 years. Thereafter, assuming the business is financially profitable, the visa may be renewed. Subsequent renewals can be granted in increments of 5 years. The spouse and unmarried children under the age of 21 are eligible for dependant visas.

E-2 Visa Application Process

The process is complex and requires much supporting documentation as to the financial viability of the business enterprise. You should expect to provide the U.S. Embassy with detailed and comprehensive information about the business, for example, a complete money trail to show the lawful source of your investment funds, U.S. tax returns for the past 3 years in the case of an existing business, profit and loss statements, a detailed business plan, and payee records of the business' employees.

The processing time for an E-2 visa can be lengthy. The processing time varies depending on the U.S. Embassy's case load, and can be up circa 3-4 months. It is important to plan for these visa processing delays.

Selection of the business in the U.S. is a critical part of the process. If the business selected is not financially viable, the visa application will not be approved. Performing due diligence with regard to the financial performance of any business that you are considering purchasing is crucial. Similarly, if you are considering a start-up business, a careful well thought business plan with financial projections is a must.

E-2 Visa Application Form

As you can see, the E-2 visa application must be carefully prepared as your ability to enter and re-enter the U.S. to manage your business is dependent on the issuance of the visa. It follows that investment in professional legal advice is strongly recommended.

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