Start with the E-2 eligibility and application overview
Distinguish purchased property from other operating resources
Reconcile the asset schedule with the actual purchase, lease and supplier arrangements. E-2 requires substantial lawful capital that is traced and genuinely at risk; there is no fixed minimum investment. Do not count a third party’s property as the buyer’s acquired asset merely because it appears on the premises, or assume that legitimate leased resources cannot support a real operating business. Trace money from its lawful source through the applicant’s accounts to the recipient, distinguishing a purchase price, refundable deposit, financed amount, and ongoing lease duty. The relevant records are statements, wire confirmations, escrow instructions, invoices, and the executed purchase or lease documents. Sequence the review by confirming what has been paid or committed before assigning values to assets. A schedule that mixes supplier property with buyer property can make an otherwise real enterprise appear overstated.
Establish the treaty enterprise and its direction
The applicant needs treaty nationality and the ability to develop and direct, with at least 50% relevant national ownership of the enterprise. It must be real and nonmarginal, exceeding minimal investor-family support or meeting the applicable significant economic-contribution standard; no ten-job quota applies. Examine actual financing and escrow terms, including potentially qualifying visa-contingent escrow. Canadians generally require an E visa, and equipment access alone is not US work authorization. Test ownership, nationality, and control before finalizing the business plan, then test whether the plan shows an operating enterprise that is not marginal. The first review should produce a dated launch sequence, revenue assumptions tied to actual contracts or market evidence, and an explanation of the investor’s authority. If a material lease, licence, seller consent, or financing condition remains open, say so and decide whether it prevents filing. E-2 does not turn a revocable reserve into qualifying capital merely because it is intended for the business.
Owning half and directing the business are two requirements
E-2 classification depends on the nationality of the owners: at least 50 percent of the enterprise must be held by nationals of the treaty country whose nationality supports the case. Funds are described as committed while still sitting in a personal account and freely reversible, which is the opposite of at risk. If one partner borrowed, the collateral matters — a loan secured by the investor's personal assets is treated differently from one secured only by the business. Loans are not automatically disqualifying, but review what secures them and whose assets stand behind the collateral. Remember that owning the enterprise does not by itself authorize the buyer to work in the United States. Check treaty nationality, ownership and the enterprise’s non-marginal capacity alongside the rights issue rather than treating one successful negotiation as complete E-2 eligibility. The enterprise may not be marginal, so a plan based on the owner doing every revenue-producing task indefinitely deserves particular scrutiny. Say what the investor personally does in a normal week, since developing and directing means directing this enterprise's operations rather than holding shares in it and visiting occasionally.
Sources reviewed 2026-09-07. This guide covers a preparation focus; it is not an individual eligibility assessment.