If you’re a Canadian and you want to start a business in the United States, you will need to understand the E-2 visa business requirements. It is incredibly important that you understand these requirements, whether you are looking to start a business or you want to invest in a business. In this article, we will be discussing the E-2 investor visa eligibility and how to create an E-2 business plan. So, keep reading to find out more about the E-2 visa business requirements and how an immigration attorney can assist you.
What Is an E-2 Visa, and Who Qualifies?
If you are a Canadian, you may be interested in starting a business or investing in a business in the United States. If that is the case, one of the best options available is an E-2 visa.
An E-2 visa is a treaty investor visa meant for foreign nationals who intend to invest a significant amount of capital into a business in the United States. It isn’t an immigrant visa, so it doesn’t lead to permanent residency, but it does have other benefits. It is typically granted for as long as five years and has the possibility of unlimited renewals.
However, to qualify for this visa, you need to meet the E-2 visa business requirements for both business owners and investors. Here are some of the eligibility requirements to review before submitting an application:
- You must be a Canadian citizen. Dual citizens can also apply, but one nationality must be from a treaty country.
- You must be able to invest a significant amount of money into the U.S. business, with the average investment ranging from $100,000 to $200,000.
- You have to own at least 50% of the business or hold a managerial position that gives you operational control.
- The business you are investing in must be currently active and generating income.
- You must have a solid business plan that shows the potential for growth and job creation.
- You must provide proof that your investment funds are coming from lawful sources.
- The funds have to be at risk.
Preparing Your E-2 Visa Application: Step-by-Step
Now that you know about the eligibility requirements, how do you prepare an E-2 visa application in Canada? The good news is that once you have ensured that you meet the eligibility requirements, the application process is quite simple.
Here is the step-by-step process of preparing your E-2 application as a business owner or investor.
Create a Business Plan
The very first thing you need to do before submitting your application is to have a strong and comprehensive business plan. This business plan needs to outline job creation goals, financial forecasts, operational strategy, and your investment. In many cases, your business plan is what will ultimately make or break your application.
Make the Investment
Before submitting your E-2 visa application, you need to first invest funds. Depending on the type of business, this could include signing leases, setting up the business operation, purchasing equipment, etc.
Make sure you keep track of things like bills, receipts, and other financial documents outlining how your funds have been spent.
Register a U.S. Business Entity
Another step you will need to take is to register the business in the United States. You’ll need to open a business bank account that will allow you to manage your investment, and you will need to obtain the licenses for the business to operate.
Gather Evidence
To support your application and prove that you meet the eligibility requirements, you will need to gather significant documentation. Here is a breakdown of some of the most important documents you will need to include with your application:
- Proof of citizenship
- Investment evidence
- Financial records
- Tax returns
- Business plan
- Legal agreements
- Business registrations
- Proof of fund transfers
Keep in mind that the type of evidence you need to include with your application will vary depending on the details of your case.
Complete Form DS-160 and Form DS-156E
You will also need to complete form DS-160, which is an online non-immigrant visa application form. When you have done that, you will be able to file form DS-156E, which is specifically for those applying for an E-2 visa. This form will include specific details regarding the business and investment, such as financial data and the business’s structure.
It is essential that both of these forms are filled out thoroughly and accurately to avoid running into time-consuming delays. You should hire an immigration attorney to assist you with this as they can help you complete the forms correctly, as well as ensure you have included all the necessary documentation.
Attend the Interview
The last step of applying for an E-2 visa is to schedule and attend an appointment at the U.S. consulate or embassy in Canada. Make sure you prepare for this interview beforehand so that you are comfortable discussing the investment details, your business, and your future business plans. Also, make sure you bring all of your supporting documents when you go to the interview.
Hire an Immigration Attorney Today
Do you need to know if your business qualifies for an E-2 visa? Contact us today at U.S. Immigration Law Counsel at 800-666-4996 to speak with an immigration attorney about your situation. We will deal with the government, so you don’t have to!
FAQ Section:
What counts as a “substantial investment” for Canadian E-2 visa applicants?
Although there is no fixed minimum required by the USCIS, most E-2 applicant investments are between $100,000 to $200,000 or more.
Can a startup business idea qualify for an E-2 visa?
Yes, it is possible for a startup business to qualify for an E-2 visa, but it must be active and already earning an income. You will also need to include a thorough business plan that charts a clear path forward regarding revenue and jobs.
Do I need to hire employees before getting the visa approved?
Yes, it is important to hire employees to show the job creation potential of your investment. However, there may be some rare instances where you are still able to obtain this visa before you hire U.S. employees.
