The E-2 visa is often the most appropriate visa for investors buying their own business or establishing a new business in the United States. The documentation which must be submitted to the American Embassy, however, is quite extensive, and recently documentary standards have been raised further. If you are a British citizen and resident in the UK, you are eligible to apply for an E-2 visa. If a citizen of another country you may also be eligible, if your country has an appropriate treaty with the US. Note: British citizens resident overseas, e.g. in Spain, are NOT eligible for E-2 visas.

Key requirements:

To qualify for this visa the most important factors are:

1. SUBSTANTIAL INVESTMENT: Your investment must be substantial. This is not defined in dollar terms, but is related to the amount necessary to purchase an existing business or establish a new business. Investments at the lower end of the range are usually between $100,000 and $150,000, but can be less than that. However, it may be difficult to get approval for E-2 visas if smaller investments are involved. Some financing is possible. However, we do not normally recommend more than 25% - 30% of the purchase price be financed for investments in the range $100,000 -$500,000. Your investment must be irrevocably committed to the purchase and should be placed in a special escrow account - funds in a business account, for example, are normally insufficient to qualify you for an E-2 visa.
2. NON-MARGINAL INVESTMENT: You will need to demonstrate that the business in which you are investing will generate more than enough income to support you and your family, and will contribute to the economy, usually by employing US workers.
3. ACTIVE INVESTMENT: The business must be a fully operating business as you, the applicant, are expected to be actively engaged in developing and directing it. Passive investments do not qualify.
4. INVESTOR MUST BE THE SOURCE OF FUNDS: The investor must be the source of the invested funds. Personal loans from relatives or friends can be considered part of your investment as long as the business is not collateral for the loan. Gifts of funds for the investment are also permitted.

Additional information:

The E-2 visa regulations currently allow for two co-investors to invest in and obtain visas to work in the business. This can be, for example, husband and wife, father/mother and son/daughter, or two unrelated business partners may also both be able to obtain E-2 work visas. E-2 investors are only permitted to work in their own business, not elsewhere. The spouse of an E-2 investor can apply for work authorisation once in the US, which will allow him/her to work for any employer.

Dependent children under 21 will normally receive E-2 dependent visas valid until their 21st birthday. Dependent visas do not permit recipients to work in the business or elsewhere, but they can study or simply accompany their parents. After reaching the age of 21, to stay in the US they will have to qualify for visas in their own right. They could obtain F-1 visas, if attending college, which would continue for the duration of their course of study; or they could become investors in a business and qualify for E-2 investor visas in their own right. If they are university graduates, they could qualify for H-1B visas for professional positions. H-1B numbers are however subject to an annual restriction.

Elderly or disabled dependents can usually accompany you. They must obtain B-2 visas, and are normally permitted to stay in the US with you as long as you remain in valid E-2 status. Their B-2 visas can be obtained simultaneously with your E visas.

E-2 visas can be issued for up to five years. It is not unusual, however, for the American Embassy in London to issue an E-2 visa for two years for the initial application. On renewal the visas are often granted for five years as long as the Embassy is satisfied that the business continues to meet the E-2 requirements.

All E-2 visas have to be renewed at the American Embassy in London, and all applicants over 14 years old must attend for a short interview.

If you have a criminal conviction this has to be stated in the visa application and you will need to submit a UK police certificate as well as a Memorandum of Conviction obtained from the Court in question. Visa eligibility will depend on the nature of the conviction. Minor offences are not likely to cause a problem. This should be discussed in advance, however.

Green Card considerations:

The E-2 visa does not automatically lead to a Green Card (nor does any other non-immigrant visa). However, as investors, you can keep renewing your E-2 visas indefinitely, as long as you continue to run the business successfully. If you have a business in the UK which continues to trade while you are in the US, you and your family may be able to qualify for Green Cards on the basis of a Multinational Manager application, after the US business has traded for at least one year. The sizes of the UK and US companies would have a bearing on your eligibility. You do not need to have a business in the UK to qualify for an E-2 visa, but you do need to have one to qualify as a Multinational Manager for a Green Card.

Other routes to obtaining a Green Card, after an initial E-2 visa:

1. Sponsorship by a close relative (parent, child or brother/sister, with varying waiting periods). If you have a child who marries a US citizen, he/she can obtain a Green Card. Once a US citizen, he/she can sponsor a parent for a Green Card.
2. Sponsorship by a prospective employer, where the employer can satisfy the Department of Labor they cannot find an American to do the job. This can take two years or longer. This, unfortunately, is a complicated and time consuming process.
3. Making an investment of $1 million (or $500,000 in a rural area or area of high unemployment) in a business, and creating 10 new jobs or investing in a Regional Centre which is pre-approved by USCIS. See www.greencardinvestor.com

For some people none of these represent viable options. In that case you can still remain on an E-2 visa in the US, and renew this every five years.