16 Aug Latin America: The E-2 Visa -Opening the Door to Opportunities
While there was a time when having a business relationship with Latin America was of minor importance to the U.S., since the 1930’s, the importance of bilateral relationships with Latin American countries has changed drastically. Latin America currently represents an opportunity for two different kinds of investment into the U.S. – an opportunity to attract investors and an opportunity to invest. Its proximity to Latin America and its strong legal system, combined with established treaties with some Latin American countries, make the U.S. an ideal place for foreign investment from Latin America, which will be the focus of this article.
One option available for investing in the U.S. is the E-2 visa, which allows a national of a treaty country (a country with which the United States maintains a treaty of commerce and navigation) to be admitted to the U.S. when investing a substantial amount of capital in a U.S. business (however, the definition of “substantial” remains subject to interpretation). Additionally, the E-2 visa offers several advantages that are appealing to investors such as: business ownership, visa duration, short processing times, permission to work in U.S., inclusion of family (spouse and children) and key employees, ownership of real estate, and permission for dependents to attend school in the U.S. [1]
The bilateral treaties between the U.S. and Latin American countries are the beginning of the path for Latin American investors toward achieving the American Dream. Countries such as Argentina, Bolivia, Chile, Colombia, Costa Rica, Ecuador, Honduras, Mexico, Panama and Paraguay, maintain bilateral treaties with the U.S., which allows investors from these countries to qualify for E-2 visas. On the other hand, citizens of some Latin American countries such as Venezuela, Uruguay and Brazil are specifically excluded from the possibility of obtaining an E-2 visa, unless they hold passports from other countries that do have bilateral treaties with the U.S. For example, the mix of cultures in South America from different European countries has allowed many citizens from Brazil, Uruguay and Venezuela to hold dual citizenship. So, although being from a country that holds a treaty with U.S. is an important requirement, it is not necessarily “game over” if you are from Brazil, since many also hold passports from Italy, Spain, Poland, Denmark, etc.
However, having citizenship of a country that has a treaty with the U.S. does not alone guarantee that you will qualify for or obtain an E-2 visa. There are other important requirements that need to be fulfilled. For instance, the subject business must be owned 50% (or more) by nationals of the treaty country (whether the principal or not), the principal applicant must have the intention of departing upon termination (since an E-2 visa is temporary in intent), a substantial investment must be made, and the list goes on.
Applying for an E-2 visa is a complex process and varies greatly from case to case. In addition to the overall complexity of the process, there are some common misconceptions, for instance: many investors want to obtain a green card as a result of their investment – however, this is not as easy as it sounds, there is more to it than just the initial investment or holding an E-2 visa; and, an E-2 visa is itself temporary in nature which conflicts with the permanent intent of a Green Card; additionally, in order to transition from an E-2 to an EB-5, the investor would need to invest further personal (not corporate) funds and satisfy applicable EB-5 job creation requirements. Therefore, it is essential to have the right team behind you – a team that has the experience and knowledge that are imperative in the E-2 approval process and in respect of all plans that the investor might have or need after obtaining the visa.
Having the right business idea and the necessary funds are the first steps on the investor’s journey, towards acquiring an E-2 visa and opening the door to a land of diverse opportunities. Are you interested in obtaining an E-2 visa? Considering an E-2 visa application? Expert navigation is the key – with the guidance of immigration and business experts at e-Council Inc.com and the right business plan, success is just a hop, skip, and a jump away due to our extensive experience and depth of knowledge. Contact us at 1.866.724.0085 or info@ecouncilinc.com for more information.
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[1] https://www.uscis.gov/working-united-states/temporary-workers/e-2-treaty-investors