Substantial investment — what counts
The investment must be substantial in relation to the total cost of purchasing or establishing the enterprise. USCIS applies a proportionality test: a higher percentage of the total enterprise cost invested means a stronger case. Investments of 100% of the enterprise cost virtually always qualify; investments below 50% face scrutiny.
The funds must be irrevocably committed — placed at commercial risk in the enterprise. Money sitting in a personal bank account, promissory notes, or contingent investments do not qualify. Evidence of commitment includes wire transfer records, purchase agreements, lease deposits, equipment invoices, and incorporation costs already paid.
Source of funds
Applicants must trace the investment capital to a lawful source. Common lawful sources include personal savings, salary and bonus income, proceeds from the sale of a prior business or real estate, gifts or inheritance (with documentation), and loans secured by personal assets.
Consular officers routinely request bank statements spanning two to five years, tax returns, property-sale records, and corporate financial statements to verify the source chain. Gaps in the paper trail are a leading cause of E-2 denials.
Business plan requirements
A professional business plan is expected for new enterprises that have not yet generated revenue. The plan should include an executive summary, market analysis, organizational structure, financial projections for three to five years, job-creation estimates, and a clear description of the applicant's operational role.
For existing enterprises, audited or reviewed financial statements showing historical revenue, payroll, and growth replace portions of the business plan. Operating enterprises with employees and revenue are generally stronger E-2 cases than pre-revenue startups.
Investor's role — directing and developing
The investor must be coming to the United States to 'develop and direct' the enterprise. Passive investors who do not participate in day-to-day management or strategic direction do not qualify. Evidence of the investor's operational role includes corporate governance documents, an organizational chart, and a description of decision-making authority.
Non-marginality evidence
The enterprise must not be marginal — it must either already generate sufficient income beyond a minimal living for the investor's family, or have the realistic capacity to do so in the near future. Job creation is strong evidence of non-marginality: enterprises that employ U.S. workers beyond the investor's family are viewed favorably.