How to Select an E2 Business
Selecting the right E2 Business is essential for both the success of the E2 Visa and the success of the business once you begin operating it. While you can start or buy just about any business you choose and may be passionate about, there are a few key points you want to keep in mind.
After working on E2 cases for the last few years, we have seen that one of the biggest hurdles and struggles our clients encounter is actually finding a suitable business. This is due in part to the fact that most E2 visa applicants are not in the United States, rather they are in their home country trying to secure a business from abroad. As such, we have created this article to serve as a guide for what to consider during this process.
If you are looking to buy a business, we always encourage our clients to buy a business that has been going for at least five years and has good financial records. You should consider hiring an accountant to review the available financial information.
Setting up your Own Business
Running your very own “start-up” business is an option that many clients choose to explore. Building the business from the ground up is a satisfying process as you get complete control over the financial and operational decisions and will feel the satisfaction of creating something on your own. However, when setting up your own business it’s important to remember that there will be additional steps that you will have to take. In most cases, our clients will end up putting more funds “at risk” in order to ensure that the business will be up and running since they have to cover start-up costs as well.
Buying an Existing Business
For those purchasing a business, make sure the financial records are up-to-date as these will need to be submitted with the application. Additionally, this will allow you to rest assured that the business that you purchase will continue to be profitable after the ownership change. As such, you should consider hiring an accountant to review the available financial information.
Some clients choose to purchase a business that has operated under the ownership of another, while other clients will instead purchase a franchise business. The benefits of purchasing a franchise is that it will come with brand recognition which in turn effects the bottom line in a positive manner. When selecting a franchise to purchase be sure to account for franchise and royalty fees as those can be quite high. If you feel that purchasing a franchise is the right option for you, checkout our franchise gallery for some information on some great E2 franchises.
Factors to Keep in Mind
Whether you are looking to purchase an existing business or start-up your own E2 business there are some general factors to keep in mind as you do your research. First, you want to make sure that the investment that you will be making is indeed a “substantial investment.” While there is no set number for this, a typical E2 investment ranges upwards of $100k. Second, you want to show that your business will employe at least 2 U.S. workers. Whether that is achieved right away or in the future, it is an important consideration to keep in mind. Third, you should select a business that you believe you can generate a steady income for, as you will be required to show this in your initial application for the E2 Visa as well as in any subsequent renewals.
We Can Help
Whether you have already secured a possible E2 business or are in the process of finding the right business, contact our offices and we can help you determine if the business is the right fit for the E2 Visa. Call us today or fill out the free consultation form on this page to schedule your free phone consultation. We look forward to hearing from you soon and guiding you through the E2 Visa process.
US Immigration Law Offices of Chris M. Ingram
Chris M. Ingram LL.M., ESQ – Immigration Attorney
Admitted in New York.
Practice Specializing in US Immigration Law
401 Wilshire Boulevard, 12th Floor,
Tel: 310 496 4292
Everyday the Law Offices of Chris M. Ingram provides a comprehensive range of US Immigration expertise. We also provide a free consultation for our prospective clients.
Please note that nothing contained in this website or link therefrom shall be regarded as providing legal advice. Please contact us directly for legal advice specific to your situation. Thank You.
Specializing in the E2 Visa, EB1 Green Card, L-1A Visa and O1 Visa and K1 Visa Marriage-Based Immigration. Attorney Chris M. Ingram is dedicated to providing the very best in US Immigration legal representation. Enjoy our website.
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