WHAT IS AN E-2 VISA TO THE UNITED STATES?
The E-2 visa is a complex program established by the United States to encourage investors to invest in businesses in the United States for the purpose of growing the US economy. The E-2 visa is a temporary work permit to manage or work in an approved company. The visa can be granted for up to five years but is renewable indefinitely if the E-2 individual continues to work for the approved company, and the company continues to operate.
The basis of the visa is the making of a substantial and investment in a US business. There is no set dollar amount, but we recommend the investment be at least $100,000. The Investment can be into a new company or investment and purchase of an existing business.
Upon investment, the investor must own at least 50% of the company and must be coming to the United States to manage the business. The investor must show that it will create jobs for employees other than family members. There is no set number of jobs required but we recommend at least 5. The spouse of the investor is also granted an E-2 visa and once in the United States can apply for work authorization and can work in any occupation. Children under 21 are also granted E-2 visas but must qualify for their own visa when they turn 21.
The application must show how you obtained the funds to invest and how you spent the funds. It also should include comprehensive financial information, organizational documents, the contract to purchase and a business plan.
Once everything is compiled, the request for the E-2 Visa Israel – Investor Visa to the USA for Israelis is submitted to the US embassy in Israelto the special E-1/E-2 unit. The embassy contains professional personnel who scrutinize these filings. If something is missing in the E-2 visa Israel request, the embassy will contact the applicant. Finally, the embassy schedules an interview with the investor, his/her spouse and children ages 14-20. The embassy estimates that interviews will be scheduled from 4-6 weeks following the submission of the application.
It is important to note that this visa is only valid if the business is operating. If you sell the business or it stops operating, you will lose this visa. It also does not lead to permanent residence (Green Card) unless you invest an additional $400,000 to $900,000 to convert the visa to an EB-5 Permanent investment visa. To learn more about the E2 visa, please see our video at www.pollakimmigration.com/e2-visa. You can learn more about the EB-5 Investment Visa at www.pollakimmigration.com/eb5-visa
Given the flexibility of the E-2 Visa and Israel’s booming hi-tech sector, this new development has great potential to advance Israeli business interests in the United States.
To learn more, and have your questions clearly and fully answered, contact the Pollak PLLC team today. We are here to help!
Karen-Lee Pollak is the Managing Attorney at Pollak PLLC located in Dallas, Texas. She is a frequent speaker, author and blogger on immigration issues. She can be reached at karenlp@pollakimmigration