Obtaining a US Immigration Visa Through Acquiring a Business
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VR Business Brokers has helped thousands of immigrant investors to earn the right to live and work in the United States through the purchase of a business.
There are two primary programs under which immigrants obtain investor visas, the E2 and the EB-5. Of these, the E2 is probably 50-100 times more common than the EB-5.
The EB-5 has far stricter requirements, requires a substantially greater investment ($500,000 minimum but usually $1 million or more), needs to support at least 10 employees, and has a lower approval rate. But if successful, it gives the investor and their family permanent residence or “green cards”. If you are interested in and have the funds for such an investment, please contact Steve Abdalla, President of VR Hawaii for more information.
The remainder of this page will focus on the E2 investor visa, since it is more suitable for most investors. The E2 visa allows the investor and their family to stay in the US indefinitely, assuming they successfully maintain their investment in the acquired or subsequent businesses.
We strongly recommend you work with an immigration attorney. Contact us for a list of immigration attorneys with special expertise in obtaining business acquisition related visas.
Details on E-2 Nonimmigrant Visa:
Treaty Investor and Treaty Investment Employee
Experience indicates the best businesses and applicants for an E-2 visa have the following characteristics:
- Low risk (e.g., service oriented)
- Family employment opportunities present
- Well established (a national franchise is usually acceptable)
- Buyer friendly (e.g., learnable business that does not require special knowledge)
- Expansion opportunities possible
- Investor may not have been convicted of a serious crime
- Real estate investment does not count
- Business must be actively engaged in producing goods and services
- Must have verifiable tax returns
- Generally, $100,000 of the purchase price must be in debt free cash deposited and verified in a U.S. escrow account before the visa application will be processed
- No notes or purchase money mortgages unless more than USD $100,000 invested
- Must have at least one U.S. employee
- Business plan must show direction
- Business should have a solid net profit (tax return shows positive net income or break even for the past 3 years)
- Owner’s benefit should be at least USD $70,000 after add backs. Add backs include net income, owner’s salary, interest, depreciation and owner’s medical insurance expense.
- Investors’ net worth should be at least USD $150,000
Treaty Investment Visa E-2
The E-2 nonimmigrant visa authorizes a citizen of a treaty country to oversee their investment in the U.S. or work with a U.S. business which is at least 50% owned by citizens of the treaty country. The visa can be extended every two (2) years without limitation on the total period of stay. The spouse and minor children may accompany or follow to join the E-2 principal. Employees from the treaty country, including executives, managers and essential employees are eligible for the E-2 visa.
E-2 Treaty Investor Visa Requirements
The E-2 visa requires (1) a treaty allowing investment in the U.S between the U.S. and the country of which the person is a national; (2) the investor is a treaty national or a qualifying organization (50% or more owned by treaty nationals); (3) the applicant is actively in the process of investing a substantial amount of capital (generally at least USD $100,000, debt free); (4) entering the U.S. to develop and direct the investment, or entering the U.S. to work in an executive, managerial or “essential employee” capacity; and (5) the U.S. investment is fifty percent (50%) owned by a treaty national or qualifying organization.
Treaty Countries
Many countries have investment treaties with the United States which qualify for the E-2 visa. Last we looked, the list of treaty countries included:
Albania, Argentina, Armenia, Australia, Austria, Azerbaijan
Bangladesh, Belarus, Belgium, Bosnia, Bulgaria
Cameron, Canada, Colombia, Congo (Brazzaville), Costa Rica,
Congo (Rep. Democrat), Croatia, Czech Republic
Ecuador, Egypt, Estonia, Ethiopia
Finland, France
Georgia, Germany, Grenada
Haiti, Honduras
Iran, Ireland, Italy
Jamaica, Japan, Jordan
Kazakhstan, Korea, Kyrgyzstan
Latvia, Liberia, Luxemburg
Latvia, Liberia, Luxemburg
Mexico, Mongolia, Moldova, Morocco
Netherlands, Nicaragua, Norway
Oman
Pakistan, Panama, Paraguay, Philippines, Poland
Romania, Russia
Senegal, Slovakia, Slovenia, Spain, Sri Lanka, Sweden, Switzerland, Surinam
Taiwan, Thailand, Togo, Trinidad-Tobago, Tunisia, Turkey,
Ukraine, United Kingdom, Uzbekistan
Yugoslavia
Zaire
Premium Processing
The INS has a business service called Premium Processing where the INS responds within 15 working days from the date of the receipt of the application. There is $1,000 INS filing fee for the Service. This fee is an addition to other applicable filing fees that the applicant must pay.
Approval of the Visa
The Immigration and Naturalization Service has jurisdiction to change status to E-2 and the U.S. Department of State, through U.S. Consulates, have jurisdiction to approve E-2 visa classification.
The INS issues an approval notice as evidence of the principal investor or key employee's E-2 status. The approval notice allows the employee to work for the petitioning company only. Dependents are issued approval notices as evidence of their E-2 status. The U.S. Consulate issues the E-2 visa in the passport as evidence of the principal investor or key employee’s E-2 status. The visa in the passport is annotated with the name of the petitioning company.
Work Authorization for Spouse
The spouses of E visa holders are allowed work authorization in the U.S. Spouses of E visa holders file for work authorization with the INS Service Center and pay the applicable filing fees. The investor, employees and dependents must have E-2 visas in their passports for travel back to the U.S. This application is made at U.S. Consulates and is referred to as visa consular processing.
E-2 Nonimmigrant Visa
Document List
E-2 Applicant
- Resume (with detailed description of job duties and dates of employment)
- Diplomas, degrees, and certificates
- Evidence of nonimmigrant status if present in the U.S. (visa, I-94, approval notices)
- Passports of E-2 Applicant and all dependents (passports valid for at least 6 months)
- U.S. Company or Business Enterprise
- Certificate of Incorporation and Articles of Incorporation
- Stock certificates (showing total ownership of the company)
- Business sale agreement or stock purchase agreement
- Business information (history, facilities, products, number of employees, clients)
- Business appraisal, business valuation or prospectus
- Business registration, business license, business permits, fictitious names (DBA's)
- Commercial lease
- Brochures, catalogs, promotional and product literature, and advertisements
- Invoices, contracts, bills of lading, and other business documentation
- Photographs of the business (if applicable)
- Corporate tax returns (IRS 1120, IRS 941, employee W-2 and 1099’s)
- Financial statements (balance sheet, income statement)
- Bank account statements
- Bank wire transfers; certified checks or other documentation of investment in the U.S.
Foreign Company (if applicable)
- Certificate of Incorporation and Articles of Incorporation
- Business information (history, facilities, products, number of employees, clients)
- Business registration, business license, business permits
- Commercial lease
- Brochures, catalogs, promotional and product literature, and advertisements
- Invoices, contracts, bills of lading and other business documentation
- Photographs of the business (if applicable)
- Corporate tax returns
- Financial statements (balance sheet, income statement, payroll taxes, W-2, 1099)
- Bank account statements
Source: Fong & Associates, L.L.P. www.fonglegal.com used with permission.
