Overview

Who qualifies for E-2?

The E-2 Treaty Investor visa allows nationals of countries with a qualifying US bilateral commerce treaty to enter the United States to invest in, and actively direct, a bona fide commercial enterprise. The investment must be substantial, at risk, and committed — and the enterprise must not be marginal. There is no annual cap, no lottery, and no labor market test.

Two tracks exist under the E-2 category: the principal investor, who owns at least 50% of the enterprise or otherwise controls it, and qualifying employees of a treaty enterprise — executives, supervisors, and employees with essential skills who are nationals of the same treaty country as the business's majority owners. Both tracks are available under the same E-2 framework.

E-2 status is renewable indefinitely in two-year increments as long as the qualifying investment and enterprise remain operational and the investor continues to direct it. For founders and owner-operators building a US business from a treaty country base, E-2 is often the most efficient initial path — no employer sponsor, no wage requirements, no PERM process.

Requirements

The four qualifying requirements.

Every E-2 case — whether for the principal investor or a qualifying employee — must satisfy all four requirements. The investment record and the enterprise's capacity for growth are the foundation of the case.

01

Treaty nationality

The applicant must be a national of a country that maintains a qualifying bilateral treaty of commerce and navigation with the United States. The enterprise must also be at least 50% owned by nationals of the same treaty country.

02

Substantial investment

The invested capital must be substantial relative to the total cost of establishing or purchasing the enterprise — assessed proportionally, not by fixed dollar amount. The funds must be committed and at risk in the commercial sense: subject to partial or total loss if the enterprise fails.

03

Not marginal

The enterprise must have the present or future capacity to generate more than enough income to provide a minimal living for the investor and family. Enterprises with employees, documented revenue, and a credible growth plan meet this standard. A sole proprietorship with no employees and no growth documentation faces heightened scrutiny.

04

Directing the enterprise

The principal investor must own the enterprise or hold at least 50% ownership and have a real operational role directing it. Qualifying employees must hold an executive or supervisory position, or possess specialized skills that are essential to the enterprise's operations.

What qualifies as investment

Capital committed and at risk.

E-2 does not require a specific dollar amount, but the investment must be genuinely committed to the enterprise — not sitting in a personal bank account or contingent on visa approval. The proportionality test compares the invested amount to the total cost of the enterprise: a high proportion signals substantiality; a small percentage of a large enterprise does not.

Qualifies

At-risk committed capital

Cash equity transferred to the enterprise, equipment purchased for operations, inventory committed to the business, and other tangible assets with documented commercial purpose. The funds must be irrevocably committed — not contingent on E-2 approval.

Qualifies

Partial financing

A combination of equity and conventional business financing can qualify, provided the equity portion is itself substantial relative to enterprise cost. Loans secured by the investor's personal assets — not the enterprise's assets — are generally acceptable as part of the investment structure.

Does not qualify

Uncommitted funds

Money held in a personal or business bank account that has not yet been transferred to the enterprise does not count as invested capital. The funds must be actively deployed — bank statements alone, without evidence of commitment to the enterprise, are insufficient.

Does not qualify

Loans secured by enterprise assets

Financing secured against the assets of the enterprise being purchased — rather than the investor's own assets — does not qualify as the investor's own capital at risk. The investor must have genuine personal exposure to loss.

Pricing

Fixed fees, two tiers.

Every matter is quoted as a flat attorney fee, agreed before any work begins. Government filing fees are separate and depend on the forms and processing speed your case requires.

Standard
$7,500
Attorney fees only
Case evaluation and strategy
Evidence development and document review
DS-156E / I-129 package preparation
Filing management
Premium
$8,500
Includes RFE response + re-file protection
Everything in Standard
Priority case management
One RFE response included
One re-file if petition is denied

Government filing fees are non-refundable and separate from attorney fees. Reciprocity fees apply for some nationalities — Australian nationals, for example, pay approximately $5,000 in additional government reciprocity fees at the consulate; confirm current amounts at travel.state.gov. RFE responses for Standard clients are quoted in writing before work begins and are capped at $3,500. The controlling fee is the amount in your retainer agreement.

What to expect

Timeline from evaluation to status.

Most E-2 applications are filed at a US consulate abroad using the DS-160 and DS-156E forms. Consular processing is generally faster than USCIS change of status and does not require a separate petition. For applicants already in the US in valid nonimmigrant status, USCIS change of status via I-129 is available.

1

Case evaluation

We assess treaty country eligibility, the investment structure, enterprise viability, and the marginality argument. We identify evidentiary gaps — particularly around the substantiality and at-risk requirements — before preparation begins.

1–2 business days
2

Investment documentation

We work with the client to compile evidence of committed, at-risk capital: bank wire records, purchase agreements, corporate formation documents, business financials, and pro forma projections demonstrating non-marginality.

2–4 weeks
3

Application package preparation

Your attorney prepares the DS-160 + DS-156E (consular) or I-129 petition (USCIS), supporting brief, and full exhibits. The brief establishes substantiality, non-marginality, and the investor's directing role.

2–3 weeks
4

Consular interview or USCIS adjudication

Consular path: application submitted to the US embassy; interview scheduled and conducted. Decision issued at interview or within days. USCIS path: I-129 petition adjudicated in 3–5 months (regular) or 15 business days (premium processing).

2–8 weeks (consular) · 15 days–5 months (USCIS)
5

Entry and status maintenance

After visa issuance, the investor enters the US and begins directing the enterprise. E-2 status must be maintained through continued qualifying investment and active direction; we advise on renewals and the documentation practices that make renewals straightforward.

Ongoing — renewable every 2 years
FAQ

Common questions.

There is no fixed dollar minimum. DOS and USCIS apply a proportionality test: the investment must be substantial relative to the total cost of establishing or purchasing the enterprise. A $300,000 investment in a $350,000 business is generally substantial; the same $300,000 in a $3 million enterprise may not qualify. As a practical matter, investments below $100,000 face heightened scrutiny unless the enterprise itself is modest in cost — a service business with low startup costs can qualify at lower dollar amounts than a capital-intensive operation.
A marginal enterprise is one with no present or future capacity to generate income beyond what is needed for the investor and family's minimal living expenses. To clear the marginality test, the enterprise must demonstrate — through actual revenue or a credible, detailed business plan — that it will generate more than a minimal living within five years of the E-2 grant. Enterprises that create US jobs are more readily found non-marginal; sole proprietorships with no employees and no documented growth plan face greater scrutiny.
Yes. Qualifying employees of an E-2 enterprise may seek E-2 status if they hold an executive or supervisory role, or possess skills that are essential to the operations of the enterprise and not readily available in the US labor market. The employee must be a national of the same treaty country as the principal investor and the enterprise's majority owners. The enterprise itself must satisfy all E-2 requirements.
Consular processing requires filing a DS-160 nonimmigrant visa application plus a DS-156E treaty visa supplement at a US embassy or consulate abroad. Decisions are typically issued at the interview or within a few days. USCIS change of status (I-129) is available for applicants already in the US in valid nonimmigrant status — it takes 3–5 months on regular processing or 15 business days on premium. Consular processing is generally faster for investors outside the US; change of status avoids international travel but requires maintained lawful status throughout adjudication.
E-2 status is initially granted for up to two years and can be renewed in two-year increments indefinitely, as long as the qualifying investment and enterprise remain active. There is no statutory cap on renewals. Each renewal requires demonstrating that the enterprise is still operating, the investment remains at risk, and the investor continues to direct the enterprise — maintaining clean investment and business records year-round makes renewals straightforward.
E-2 has no direct immigrant path — it is a nonimmigrant status only. However, E-2 investors who scale their enterprise with significant capital and US job creation may qualify for an EB-5 immigrant investor green card. Those who develop a managerial track record within a qualifying multinational structure may become eligible for EB-1C. E-2 holders with documented extraordinary ability or national interest arguments may also pursue EB-1A or EB-2 NIW independently. We assess green card options at the initial evaluation.