What the E-2 Treaty Investor visa is
E-2 is a nonimmigrant visa that permits nationals of countries with a bilateral investment treaty (or equivalent agreement) with the United States to enter and work in the U.S. based on a substantial investment in a real, operating U.S. business. The investor must direct and develop the enterprise.
E-2 is not subject to an annual cap or lottery. Initial status is typically granted for up to five years (depending on the treaty country's reciprocity schedule), and extensions are available in two-year increments with no maximum number of renewals as long as the enterprise remains operational.
Treaty country requirement
Only nationals of countries that maintain a treaty of commerce and navigation — or a bilateral investment treaty — with the United States are eligible for E-2 classification. The Department of State publishes the current list of treaty countries.
Major treaty countries include Japan, South Korea, Germany, France, the United Kingdom, Canada, Australia, Mexico, Turkey, Italy, Spain, the Netherlands, and Argentina. India and China do not have qualifying E-2 treaties, so their nationals are not eligible for E-2 unless they hold dual citizenship with a treaty country.
Substantial investment requirement
There is no statutory minimum investment amount. USCIS and consular officers evaluate whether the investment is 'substantial' relative to the total cost of the enterprise or the amount normally needed to establish a viable business of that type.
In practice, investments below $100,000 face heightened scrutiny. Most approved E-2 petitions involve investments of $100,000 to $500,000 or more, depending on the industry. The funds must be at risk — irrevocably committed to the enterprise — and cannot be held in a personal bank account.
Marginality test
The enterprise must not be marginal. It must have the present or future capacity to generate more than enough income to provide a minimal living for the investor and their family, or it must make a significant economic contribution through job creation, revenue generation, or other economic impact.
A business plan showing projected revenue, hiring, and growth over three to five years is standard evidence for new enterprises that have not yet demonstrated profitability.
Application process
E-2 visas are typically obtained through consular processing at a U.S. embassy or consulate in the investor's treaty country. Applicants already in the U.S. in another nonimmigrant status may apply for a change of status to E-2 by filing Form I-129 with USCIS.
Consular E-2 applications require Form DS-160, a detailed business plan, evidence of the investment, corporate formation documents, and proof of treaty-country nationality. Processing times vary by consulate — some posts adjudicate E-2 cases in days, while others take several weeks.
E-2 employee visas
E-2 classification extends to essential employees of the treaty enterprise — executives, supervisors, and workers with specialized skills essential to the enterprise's operations. The employee must share the same treaty-country nationality as the principal investor or the enterprise's majority owner.