Are you a non-U.S. citizen planning on putting up a business in the United States? Are you wondering what the essential and legal requirements you will need to get your enterprise going are? Well, you are on the right track because we will be providing you with fundamental knowledge about one of the most necessary legal requirements in starting up or buying a business, trade, or investment in the United States, the E2 visa.
However, if you want to know more about the E2 visa more than the length of its validity, check out Ashoori Law right after this read. They will fill you with vital information regarding the benefits and restrictions, and much more legal stuff.
What is an E2 visa?
The Treaty Investor (E2-Visa) is a non-immigrant visa issued to individuals who desire to engage in business and trade in the United States. Additionally, E2 visas are only granted to countries in the treaty of commerce and navigation with the U.S. For people in business and investors, they must invest a considerable amount of money on a bonafide company or enterprise in the said country to be approved of having one. There is no particular amount stated in regulating how much you should invest to be granted the said visa. However, to determine whether the amount of money you funded is substantial enough for you to be a qualified visa treaty investor, a proportionality test is carried out. But it is not enough that you only invest or start the business up. Consequently, you have to directly and solely run the business and develop it.
On the other hand, E2 visas can also be granted to those employees of treaty investors. However, they must be in executive, managerial or supervisory positions. Special qualifications are needed for employees with jobs below the mentioned ones. Furthermore, the employees who will apply for E-2 visas should be of the same nationality as the investor.
Application for an E-2 visa can last from two to six weeks, starting from the date of filing. But take note that the duration can take even longer than that, depending on the United State Consulate’s current workload at the time of your approval request.
When will your E2 visa expire?
After all the difficulty and hassle you experienced after you applied at the United States Consulate for your E2 visa, the next thing you must know is the length of its validity. E2 classification visa for investors and employees will only be allowed for a maximum of 5 years. However, extensions can be granted two years at most. Grantees should renew their E-2 visa every two years, should they wish to keep their business running in the U.S. If ever it is deemed valid for five years. Your status is not as long as that, and you still cannot stay in the U.S. Furthermore, the said visa does not determine the length of your stay in the states; your status does.
There is no particular limit for the number of renewals set by the U. S regulations. Therefore, you can always apply for renewal or extension of your visa. It is as long as your business or enterprise meets the law requirements, which still make you qualified to be a visa holder.
You must be aware when your visa’s permissibility will be over so you can file for an extension of status. Failure to extend its validity will mean you have to stay in the U.S. for 40 days to keep your business running with the decision pending. It is indeed advisable that you apply for its renewal before your Form I-94 expires or Form of Legal Entry so that you have a safe 240 days pending the consulate’s decision. That is quite a time to wait for the consulate’s judgement whether they will grant you an extension or not.
Benefits of being an E-2 visa holder
During your E-2 visa’s effectiveness, you are not restricted to fly in and out of the United States. You are also allowed to bring your spouse in the U.S., along with your kids below 21 years old. But they must be in a single status to be qualified as your dependents. Your spouse then can work in any bonafide company also. And for your children, they can enrol at any school of your choice. However, they are not permitted to work in any form, even if it is only a part-time job.
What circumstances will void your E-2 visa?
The United States Consulate can revoke the non-immigrant E-2 visa at any time, should the holder be proven to have grounds for revocation. This revocation shall automatically invalidate the legality of the said document.
The E-2 visa can be revoked if the holder is found to use it other than its lawful purpose. Another ground for revocation is when the holder issued false documents or requirements for the visa to be given to them. The United States Consulate can also invalidate the said permit if he is proven to be a threat in the States’ security or is involved in unlawful businesses such as smuggling and drugs.
Investing in a foreign country business is such a giant leap, especially if it requires a substantial amount of money, just like applying to be a U.S. treaty investor. All the requirements needed for your application, processing fees, and the charges it imposes is already a large amount, too. Once you finally decide to do it, you need to understand that a large amount of money you invested is already on the line. And that there is a chance that it might fail. You must ask yourself, are ready for that?
However, no business person does not ever take giant leaps to expand and grow. There is no guaranteed risk in the business world, after all. But of course, the decision you should make must be logical and wise enough before you try your luck and spend a large amount of money. That is how a real businessman weighs things and takes responsibility.