One of the perks of residing in the US as an entrepreneur is the availability of many business opportunities you can explore. The dream of many people coming to America is to own a business to take care of themselves and their families. And the US government helps make this dream possible for foreign investors with the creation of E-2 visas. These visas allow entrepreneurs from 82 different countries of the world to live and work in the US for a company they have a stake in.
Also, E-2 visas allow the partner and unmarried, dependent children of foreign investors to relocate with them to the US. Since holders of this visa help create jobs and contribute to business activities in the country, they are considered an important part of the US economy. So, repealing this program will be a disservice to the American people and the nation. Continue reading to learn 5 surprising facts you probably don’t know about E-2 visas.
1. E-2 visas are not linked to American Citizenship
E-2 Visas are not meant for people who want to immigrate to the US. That is, they are temporary visas and cannot be used to become a citizen of the US. It differs from Green Cards, which enables you to live and work in America permanently.
2. They can be renewed an unlimited number of times
You can renew an E-2 Visa every 2 to 5 years as many times as you wish. How long you can stay in America with this visa varies based on your home country. For instance, E-2 Visa holders from Canada can operate their business in the US for 5 years, whereas those from Australia are only allowed to stay for 4 years.
3. E-2 Visas do not have a minimum investment requirement
If you are a foreign investor who wants to get an E-2 Visa, you have to put your money into a qualifying business and offer jobs to the US people. Are you wondering what the minimum amount to invest for an E-2 Visa is? Well, the US laws do not specifically state the least amount you need to invest in an American business to be eligible for this visa. However, experts believe that the more money you invest, the better your chances of securing the E-2 Visa.
For instance, while $100,000 is a good investment amount, the immigration officer handling your case will be more confident in your company’s ability to succeed if you have, say, $150,000 or more to put into a business.
4. Up-and-coming brands are more likely to partner with E-2 visa investors
As a foreign investor, you should consider new brands that are still trying to get off the ground instead of well-recognized names like Subway and McDonald’s. These bigger, well-known brands are never short of US investors, so emerging brands are more likely to accept an E-2 visa from abroad-based entrepreneurs. You also need to create an exit strategy to get out of the country once your business is completed.
5. You need to be in the process of investing in an eligible business to qualify for an E-2 visa
Like the minimum investment required for an E-2 visa, it is also not clear what type of business can make you eligible for the visa. However, foreign investors have to invest in a new or old business with a brick-and-mortar location like a storefront or office. Home-run businesses don’t qualify. Also, you have to be playing a critical role in deciding the direction of the US-based business before you can get an E-2 visa. You can achieve this either by having at least a 50 % stake in the company or being a manager in the establishment with critical skills.
Hiring a franchise consultant
It is advisable to get the help of a franchise consultant to know if franchising is good for you and which franchise opportunity suits you best. These experts can assist you in finding the right franchise business for you, depending on your skills, goals, and financial health.
E-2 Visa holders like buying franchises since it comes with a proven working system to follow. Plus, they require projection costs, allowing investors to know how much they need to set up the business. When you own a franchise as an E-2 Visa holder, you will not only be providing jobs to US people, but you will also be able to cater to yourself and your beloved family.
