Many people considering the E-2 Treaty Investor visa begin the process with a mix of emotions: excitement about expanding a business into the United States, feeling overwhelmed by the level of preparation required, and uncertainty about how the final decision will be made.
The application involves a detailed review, a financial investment, and a visa interview at a U.S. embassy or consulate. For many applicants, the process can feel like one hurdle after the other as documentation is gathered, funds are committed, and business plans are reviewed.
A consular officer reviews the application and determines whether the legal requirements are satisfied. That review follows standards set out in U.S. immigration regulations and Department of State guidance used in visa adjudications.
These standards explain why some applicants experience the E-2 process as difficult. The visa has specific eligibility requirements related to treaty nationality, the investment, and the nature of the business. Applications may be refused when the evidence does not clearly show that one or more of these requirements are met. The sections below explain the E-2 requirements that most often create challenges, based on how U.S. government rules describe and apply them.
Challenge 1: Proving treaty nationality and qualifying ownership
The E-2 Treaty Investor visa is available to nationals of countries that maintain a qualifying treaty of commerce and navigation with the United States. If an investor is not a national of a treaty country, the E-2 classification is not available.
For applicants who do meet the treaty nationality requirement, this aspect of the E-2 process is usually straightforward. Complexity can arise, however, when the investment involves business partners or shared ownership. In these cases, U.S. government guidance requires that nationals of a treaty country own at least 50 percent of the enterprise for the business to qualify for E-2 purposes.
When a business has multiple owners or layered ownership structures, consular officers examine the nationality of each equity holder to confirm that the treaty ownership threshold is satisfied. If the documentation does not clearly establish qualifying treaty ownership, the case may not meet E-2 requirements. Officers rely on the official treaty country list published by the U.S. Department of State when making this determination.
Challenge 2: Proving the investment is substantial and committed
One of the most common questions applicants face is whether their investment will be considered sufficient for an E-2 Treaty Investor visa. U.S. immigration rules require a substantial investment in a real U.S. business, but they do not define a specific dollar amount.
Instead of applying a fixed minimum, consular officers evaluate whether the investment is substantial in relation to the total cost of establishing or purchasing the business. This means the same investment amount may be viewed differently depending on the type of enterprise, its startup or acquisition costs, and its operational needs.
Applicants also encounter uncertainty around whether their funds qualify as a real investment under E-2 rules. The investment must be committed to the business and exposed to potential loss through normal business activity. Funds that remain outside the business or are tied only to future plans may not meet this standard.
Because there is no set investment threshold and no single form of proof, this requirement is assessed case by case. Applicants often experience this stage as one of the most difficult parts of the E-2 process, since the outcome depends on how the investment fits the specific business.
Challenge 3: Proving the business is real and operating
Beyond nationality and investment, consular officers assess whether the U.S. business itself meets the requirements of an E-2 enterprise. The business must be real and operating. It must actively provide goods or services and show ongoing commercial activity, rather than exist only as a legal entity or future plan.
Applicants often find this stage challenging because the review focuses on present business activity. Officers look for evidence that the enterprise has begun operations or is clearly in the process of doing so. This assessment relies on indicators of active business operations, such as commercial arrangements, transactions, and use of the premises.
This review also includes whether the business is more than marginal. U.S. immigration rules require that the enterprise have the capacity to generate income beyond supporting the investor and their family. Officers evaluate the scale of operations and overall economic capacity of the business when making this determination.
Difficulty can arise when business activity is limited, early-stage, or not clearly documented. Even when the investment itself meets E-2 standards, the case may not satisfy the requirement if the evidence does not clearly demonstrate that the business is operating or capable of more than minimal activity.
Challenge 4: Proving the investor will develop and direct the business
In addition to meeting nationality, investment, and operational requirements, the applicant must show that they are coming to the United States to develop and direct the enterprise. The E-2 classification is not available to passive investors. The investor must have a controlling interest in the business or possess operational control through a managerial or executive role.
Applicants often experience this stage as challenging because officers assess the investor’s actual role in the company. The review focuses on whether the investor will guide the business, make strategic decisions, and oversee its operations, rather than serve in a purely technical or subordinate capacity.
This determination is based on the structure of the company, the investor’s ownership interest, and the responsibilities outlined in the business plan and supporting documents. When the investor’s role is not clearly defined or appears limited to routine operational tasks, the case may not meet the E-2 requirement that the investor develop and direct the enterprise.
This requirement can feel difficult because it requires alignment between ownership, authority, and day-to-day responsibility. The evidence must clearly demonstrate that the investor will direct and develop the enterprise in accordance with E-2 standards.
Challenge 5: Proving the lawful source of funds
In addition to demonstrating that the investment is substantial and committed, the applicant must show that the invested funds were obtained through lawful means. U.S. immigration rules require that the invested capital be lawfully obtained and under the investor’s control.
Applicants often experience this stage as document-intensive. Consular officers review financial records to trace the origin of the investment capital. This may include reviewing earnings history, business profits, property sales, inheritance, gifts, or other lawful financial activity used to fund the investment.
The review focuses on whether the funds can be clearly traced from their origin to the U.S. enterprise. When the source of funds is unclear, insufficiently documented, or inconsistent with the applicant’s financial history, the case may not satisfy the requirement that the investment be lawfully obtained.
This requirement can feel difficult because it requires detailed financial documentation beyond the investment itself. The evidence must show both lawful acquisition and a clear path of transfer into the E-2 business.
So, is it hard to get an E-2 visa?
The E-2 visa is neither inherently hard nor easy; its complexity depends on how clearly an applicant satisfies the legal requirements.
Each element of the case is evaluated against defined regulatory standards, including treaty nationality, the structure and proportionality of the investment, the operation of the business, the investor’s role, and the lawful source of funds. The review focuses on whether the evidence supports each requirement in a consistent and organized manner.
Applications that align closely with these standards and present clear documentation move through review more smoothly. Cases that require additional clarification or supporting evidence involve closer examination.
The outcome ultimately turns on preparation and alignment with the governing criteria. The standards are established in regulation, and the strength of the application rests on how fully those standards are demonstrated.
Sources:
- U.S. Department of State (DOS). https://travel.state.gov/content/travel/en/us-visas/employment/treaty-trader-investor-visa-e.html
- U.S. DOS. https://travel.state.gov/content/travel/en/us-visas/visa-information-resources/fees/treaty.html
- Electronic Code of Federal Regulations. https://www.ecfr.gov/current/title-8/chapter-I/subchapter-B/part-214/subpart-A/section-214.2
- U.S. Department of State – 9 Foreign Affairs Manual (9 FAM 402.9). https://fam.state.gov/FAM/09FAM/09FAM040209.html