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Investment Visa USA

US immigration lawyer in Canada providing EB-5 Investor Visa and E-2 Business Visa services to Canadians. We offer free consultations!

USA E-2 Visa for Canadians

An E-2 Visa can allow a Canadian to start or invest in a business in the United States. In order to qualify, an applicant must invest a "substantial" amount of capital into a US business and must be actively involved in the enterprise. E-2 Visas are only available to entrepreneurs from select treaty countries, but Canadian citizens have been eligible since 1994. Since the requirements are broad it is easy to overlook this business visa, but in our experience it can be a great option for Canadian investors interested in living in USA.

E2 is a non-immigrant visa, so it does not automatically lead to a Green Card, but it can be renewed indefinitely. While it does not result in American citizenship, there are Canadians that have lived in USA on an E-2 Visa for decades. An applicant's spouse and unmarried children under 21 years of age can also qualify for visas allowing them to work or study in the United States. There is no minimum investment required, and some Canadians have been approved for an E2 Visa after investing as little as USD 80,000. An E2 entrepreneur is not required to maintain a foreign residence, which is a major advantage compared to other non-immigrant visas. This can enable a Canadian to sell their primary residence when moving to USA, helping them achieve non-resident tax status with CRA.

Qualifying Investment

The United States Citizenship and Immigration Services (USCIS) states that an E2 investment must be "substantial" in relation to the total cost of purchasing or establishing the business. The amount must be of a magnitude that will support the likelihood the investor will successfully develop and direct the business. While USCIS does not provide exact numbers, the amount invested must show a sufficient financial commitment to the success of the enterprise. Ultimately, the investment must support a business capable of generating enough income to support the applicant. The average size of an E-2 investment varies significantly by the type of enterprise. For example: a consulting firm can likely be launched with a small amount of money, while a manufacturing facility would typically require a much larger upfront investment.

Interested in a US Business Visa? Contact us now for a confidential consultation! Our American immigration lawyer can help Canadians apply for an E-2 Visa via the US consulate in Toronto (we are based in Ontario). We can also help Canadians already in USA apply for a Change of Status.

E2 Visas for Canadians

Canada is one of the top source countries for E-2 candidates. Canadian entrepreneurs love moving to the United States, and the US loves getting them. There are many reasons why Canadian businessmen and businesswomen want to relocate to their southern neighbour. For some it's the better weather. For other's it's the huge economy and lower taxes. Perhaps it's to be closer to friends and family, to attract venture capital, or to give your children increased opportunities.

America welcomes Canadian entrepreneurs with open arms - after all Canadians and Americans have similar culture, values, and a shared language. Each year, more than 20,000 Canadians interview for an E-2 Visa. Canadian E-2 applicants have opened businesses involving software, professional services, finance, construction, marketing, renewable energy, artificial intelligence (AI), healthcare, food services, crypto, tourism, education, and agriculture. While most Canadian E-2 Visa holders live in Florida, California, or Arizona, there are no geographic restrictions and you can move to any state.

E2 Visas can be issued for between one and five years depending on a person's nationality, and Canadians qualify for the max amount (5 years). A Canadian will typically need to exit and re-enter the United States at least once every two years, in order to renew their status (which is granted for a max of two years regardless of how long the business visa is valid). Renewing an E2 Visa is typically straightforward as long as the person continues to meet all the requirements.

Investing via Canadian Company

If a Canadian company invests in an American business, the foreign company will be considered the principal investor for E2 purposes. In such a case, the nationality of the business is determined by the individual owners of the business not the jurisdiction of the corporation. To qualify for an E-2 Visa, the business must be at least 50% owned by citizens of a treaty country. For example: a Chinese citizen cannot qualify for an E-2 Visa simply by incorporating in Canada. This is because USCIS will look at the nationality of the company's ownership, not the country the corporation is based in.

Can a Canadian PR Qualify for a USA E-2 Visa?

E2 eligibility depends on your nationality, not your current country of residence. Consequently, being a Permanent Resident (PR) of Canada, or a Canadian Study Permit or Work Permit holder, does not provide any qualification advantages. Unless you are a citizen of an E2 treaty country, this US Entrepreneur Visa will not be feasible. For example: a Canadian PR with an Indian passport will typically not qualify for an E-2 Visa until they obtain Canadian citizenship. If you hold multiple citizenships, you will likely qualify if one of them is an E-2 treaty nation.

Can I Bring My Family With Me?

Yes, when applying for an Entrepreneur Visa USA a Canadian can include their spouse and children in the application. If approved, your husband or wife will also have E2 status and can obtain authorization to work in the United States. If approved, your unmarried children under 21 years of ago will also have E-2 status and be authorized to study anywhere in America (but will not be allowed to work in the country).

What Type of Business Can I Invest In?

In order to acquire an E-2 Visa, you must invest in an active, for-profit business that conducts an entrepreneurial activity and is not considered a "marginal enterprise". In most cases, the enterprise will sell a product or service for a profit. Passive investments, such as investing in residential real estate or the stock market, will generally not work. The business should eventually be capable of generating enough income to support the investor and his or her family. The funds invested must be considered "at-risk" and irrevocably committed to the enterprise. In order to satisfy the at risk requirement, funds must be subject to either partial or total loss if the business fails, they cannot just sit in a corporate bank account or be guaranteed.

According to the Foreign Affairs Manual (FAM), the "projected future capacity should generally be realizable within five years from the date the applicant commences normal business activity of the enterprise." If the enterprise will not generate enough money to provide a minimal living to the entrepreneur and their family within five years, it must have "a present or future capacity to make a significant economic contribution" otherwise it will likely be considered a marginal business. For example: if the operation will employ many workers, it might qualify even if it does not generate much profit.

When Does the Investment Need to Be Made?

When applying for an E-2 Business Visa USA, your application should not be submitted to the USCIS until you have already invested in the applicable business or are in the process of doing so. A business that merely exists on paper will rarely impress consular officers. Consequently, it is best to wait until you are close to beginning actual business activities before you file.

Funding a corporate bank account alone is insufficient, an applicant must show a clear irrevocable commitment beyond just an intention to invest. This being said, it can be possible to place an investment in an escrow account where release of the funds is solely conditional on E-2 approval. A reasonable amount of investment capital can be also kept in a business operating account.

E2 Interview

Unlike other US immigration visas that are popular for Canadians, such as TN Visa (USMCA Professional) or L-1 Visa (Intra Company Transfer), all E-2 Visa applicants must attend an interview. For Canadian applicants, this in-person interview is held at the US consulate in Toronto. This is the only interview location available in the country, other US consulates in Canada do not offer E-2 interviews. Consequently, even if you live in Vancouver or Montreal you will need to travel to Toronto for the interview. In order to best serve our E2 clients, our Toronto-based US immigration lawyer can easily travel to the US consulate downtown.

As of 2024, E2 Visa applicants from Canada are typically scheduled an interview date about 4 to 6 weeks after application submission. This is substantially faster than in years past. If working with an E-2 Visa lawyer, interview preparation and coaching will likely be part of their service.

Is There a Minimum Investment?

According to United States immigration law, there is no minimum investment required for an E-2 Visa. The US Foreign Affairs Manual (FAM) states: "no set dollar figural constitutes a minimum amount of investment to be considered substantial for E-2 visa purposes." Instead, authorities use a "proportionality test" to evaluate whether or not the amount invested is substantial.

When applying for a USA Entrepreneur Visa, the proportionality test compares the total amount of money invested into the business to the total value of the business. When buying an existing business, the purchase price is generally considered the fair-market value. When creating a new business, the value is typically calculated as the total cost to make the start-up fully operational. Immigration authorities reviewing your E2 application will compare the money you invested into the business to the total value. This allows them to assess if they believe your investment was considerable enough to qualify.

For high value businesses, an investment might qualify for an E-2 Visa despite being a relatively small percentage of the total value. For example: when funding a business valued at more than USD 3 million, a 30% investment would often be considered substantial. For low value businesses, however, an investment will often need to be a high percentage of the total value in order to be considered substantial. For example: if the total investment is less than 500 thousand US dollars, it is often advisable that an E2 applicant fund at least 85% of it.

As a general rule of thumb, most professionals believe an E2 applicant should have invested at least USD 100,000 into an enterprise. While some Canadians have been approved with a smaller investment, the more you invest the better the likelihood it will be considered significant enough. While USCIS does not publish exact percentages which can make it difficult for entrepreneurs to formulate a plan, working with an experienced immigration lawyer can ensure your strategy is optimized for success. An E-2 Visa lawyer can also help you prepare the necessary evidence to justify the substantiality of your investment.

Questions about the E2 Visa? Our Toronto-based US immigration lawyer offers FREE consultations to Canadians from coast to coast!

Can I Invest in US Real Estate?

Investments that focus solely on residential real estate, such as buying a vacation property in Florida, will normally not satisfy the E-2 Visa requirements. In order to convince immigration officials it is not a marginal business, the enterprise should create employment opportunities (ideally for at least three people) and should make a tangible contribution to the American economy.

Active Involvement

While an EB-5 Visa can be acquired via passive investment, in order to get approved for an E2 Visa a Canadian citizen needs to be actively involved in a business in America. This is typically demonstrated by showing the applicant owns at least 50% of the equity in the business, or that they have operational control of the business such as a management position. If USCIS thinks you are moving to the United States for any reason other than to direct and develop the E2 business, you will likely have trouble getting approved.

E-2 Visa Fee for Canadians

The cost of obtaining a United States Business Visa can vary depending on a person's nationality. This is because the government processing fee is based on a reciprocity schedule. As of 2024, the E-2 Visa fee for Canadian citizens is USD 215 per person (including spouse and children). Canadians used to pay more, due to a USD 40 "visa reciprocity fee", but this has been eliminated and now Canadians only need to pay the regular DS-160 fee.

Source of Funds

When applying for a US Business Visa, you must prove to the American Government your funds were lawfully obtained. E2 applicants from Canada often made their money working (employment income), investing, or selling property. Gifted or inherited wealth is also permitted.

Can I Borrow Money to Invest?

Yes, it is possible to fund an E2 investment with borrowed funds, but the assets of the business cannot be used to secure the funding. For example: an entrepreneur from Calgary can purchase a business in Texas using funds secured by their personal assets, such as a home equity line of credit (HELOC) against real estate they own. The business itself can never be used as collateral, however, if the loan is secured by the company's assets it will disqualify the individual from getting approved.

Change of Status vs. Consular Processing

There are a variety of factors to consider when evaluating a Change of Status to E2 verses applying for an E2 Visa through the American consulate. Things to consider are current immigration status in USA, how quickly you will need the E-2 Visa, how soon you may need to travel outside the United States (such as a trip to Canada), as well as the size of your investment. An experienced immigration lawyer should be consulted!

E-2 Visa Processing Times

The US consulate in Toronto typically takes about 2 months to process an E-2 Visa for a Canadian citizen. If you are already inside the United States, a Change of Status can be a faster option. USCIS offers premium processing for Canadians. This can enable a Change of Status to E2 to be processed as quickly as 15 days. Consulate processing is never this fast. This being said, if you leave the US after a Change of Status, you will immediately lose your status upon exit and will need to obtain E-2 approval from an American consulate abroad before being able to re-enter the country. Furthermore, a successful Change of Status does not make getting approved for an E-2 Visa any easier, you will still need to submit a full application.

How Many Canadians Are Issued an E2 Visa Each Year?

The US Department of State (DOS) publicly issues E-2 approval numbers by nationality. Here are the statistics for Canada:
2020 - 2,651
2021 - 1,989
2022 - 6,923
2023 - 8,048

Please note: these issuance numbers include all E2 approvals from US Consulate in Toronto as well as all E2 approvals for Canadian nationals living abroad. They are also for each fiscal year ending September 30th (and thus include Q4 of previous calendar year). As you can see, interest in moving to the United States from Canada on an E-2 Visa is clearly growing!

While the US Department of State does not release official approval and rejection rates, it is possible to estimate them using the stats they do provide. Here are E2 Visa approval percentage estimates for Canada:
2020 - 88%
2021 - 93%
2022 - 91%

Intent to Depart

Most non-immigrant visa categories require an applicant to prove they have a non-imigrant intent, such as having a foreign residence or strong ties to your home country. This is not the case for an E-2 Visa. While an Entrepreneur Visa applicant must have an "intent to depart" if their E2 status ends, there is no proof needed. Instead, this requirement is satisfied simply by signing a statement. This can make it easier for the individual to reduce tax obligations in Canada by selling all assets there, but a qualified accountant should always be consulted.

Can My Employer Sponsor Me for an E-2 Visa?

Yes, a Canada-based company can sponsor you for an E2 Business Visa if they are expanding their operation in the United States. In order to qualify, the Canadian employee must be an executive, a supervisor, of have special skills that are essential to the enterprise.

USA E-2 Visa to Green Card

Since E-2 Visas are categorized as non-immigrant, they do not directly lead to a Green Card. Consequently, if an E-2 Visa holder from Canada is interested in living in the United States permanently and wants a Green Card, they will need to apply for an immigrant visa or apply to adjust their status to immigrant status.

One of the most common ways for an E2 Visa holder to obtain a Green Card is by transferring to an EB5 Visa. In some cases, capital invested to acquire the business visa will count towards the EB-5 investment criteria, and jobs created by the E2 business may also count towards the EB-5 job creation requirements. Consequently, if a Canadian has invested a large amount of capital in their E-2 business, and created several jobs, transitioning to an EB-5 Visa may be relatively easy.

Other ways Canadian E-2 Visa holders may pursue a USA Green Card are by getting sponsored by a family member who is a US citizen, or by marrying a US citizen. For example: some Canadians move to the United States on an E-2 Visa, meet someone while living there, and end up getting married to an American. It is also possible to get sponsored by a US-based company. For example: if an American company plans to buy your business, and wants you to continue to run it, they may be willing to sponsor you for a Green Card which would include them requesting a "Labor Certification".

Depending on your skills and the success of your business, it might be possible to self-petition for a Green Card via EB-1 A Visa for people with "extraordinary ability". If you have an "advanced degree" or "exceptional ability", applying for an EB-2 National Interest Waiver may also be a possibility.

E-2 Visa vs. EB-5 Visa

When it comes to American investor visas, EB-5 gets all the attention. Investing in a massive project, such as a brand name hotel, can seem more exciting than opening a coffee shop or fast-food franchise. This being said, for many Canadian entrepreneurs E-2 may actually be the superior investor visa as it can be more affordable, quicker to obtain, and an overall better fit for the business being launched. The primary advantages to EB5 are that it leads to a Green Card and can be obtained via passive investment. If your goal is to obtain dual citizenship, or you do not want to actively operate a business, EB-5 might be the better option.

Is There a Net Worth Requirement?

The E-2 Treaty Investor Visa does not have any net worth requirement! Furthermore, a Canadian does not need to have a minimum income in order to apply. This being said, a person's estimated net worth could play a factor in the strength of their business immigration application. For example: if USCIS thinks you are worth $10 million, and you plan to invest $200 thousand in a restaurant, they might question your commitment to the success of the venture since you are only investing 2% of your net worth.

What Business Expenses Count Towards E-2 Investment?

If you purchase new goods or equipment for your business, the full value can likely be counted towards the E-2 investment criteria. If you purchase used goods or machinery, the full value can also typically be counted as long as you prove the equipment will be used for business purposes. Expenses such as marketing and branding, including website design, can also likely be fully counted as long as they are properly documented. Commercial rent payments can be a bit tricky. In most cases, you cannot count the full value of a commercial lease, only the amount you have already paid at the time of filing your E-2 petition.

When applying for a US Business Visa from Canada, the onus is always on the applicant to provide sufficient documentation of all claimed expenses. This can include lease agreements, purchase agreements, vendor contracts, bank statements, receipts, and invoices. A detailed business plan including competitive analysis and 5-year projection is also required. E2 applications have a strict page limit of 70 pages, so it is advisable to prioritize crucial supporting documents. An experienced lawyer can help optimize your application for success by emphasizing important items and eliminating extraneous details.

Interested in business immigration to USA? Contact us today for a confidential consultation!

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