THE COMPLETE E2 VISA INVESTMENT GUIDE

E-2 Visa Investment Guide: Introduction

One of the most important questions for aspiring E-2 investors is: “How much do I need to invest, and what counts?” The U.S. government does not set a fixed minimum dollar amount. Instead, the focus is on whether your investment is substantial, at risk, and irrevocably committed to a real, operating business. These factors are evaluated using the “proportionality test” described in the Foreign Affairs Manual (9 FAM 402.9).

What Counts as an “Investment” for the E-2 Visa?

Under the E-2 visa rules, an investment means more than just transferring money into a U.S. bank account. According to the Foreign Affairs Manual (9 FAM 402.9), an investment is the placement of capital at risk in a commercial sense, with the goal of generating profit. To qualify, your funds must be actively committed to the business and subject to potential loss.

In practical terms, this means you should already be spending money on the startup or acquisition before your application. Immigration officers expect to see that your money is irrevocably committed — not waiting on the sidelines.

Examples of Qualifying Investments

Purchasing an existing business (including funds placed in a properly structured escrow account).
Prepaid leases or rent for commercial premises.
Buying equipment, inventory, or raw materials.
Professional fees (attorneys, CPAs, consultants) related to establishing the business.
Marketing and branding expenses that launch the company.
Technology, software licenses, or intellectual property directly tied to operations.

What Does Not Count

Money sitting in a personal or business bank account without being spent.
Passive real estate investments (such as vacant land or single-family rentals).
Loans secured by business assets (since the investor is not personally at risk).

In short: only active, at-risk, and business-directed expenditures count. If the money could easily be withdrawn without financial risk, it will not meet the E-2 standard.

The At-Risk Requirement

A core principle of the E-2 visa is that your investment must be at risk. In other words, the money you commit to the business must face the possibility of partial or total loss if the business does not succeed. This ensures that you are truly invested in building and operating a real enterprise — not just moving money around on paper.

The Foreign Affairs Manual (9 FAM 402.9) makes this clear: the investor must be personally and financially committed. If the funds are protected from risk, they do not qualify.

Examples of At-Risk Spending

Signing a commercial lease and paying initial rent.
Buying inventory or equipment for your business.
Paying contractors or vendors to launch operations.
Using an escrow arrangement where funds are released only upon visa approval (if structured properly).

The key takeaway: you must show genuine financial commitment. Officers expect to see receipts, contracts, bank statements, and other records proving your funds are actively committed and exposed to business risk.

The Proportionality Test

Unlike the Eb-5 investment based green card, the E-2 visa does not set a fixed minimum investment. Instead, consular officers apply the proportionality test to decide if your investment is “substantial” for the type of business you are starting or buying.

Under this test, your investment is compared to the total cost of purchasing or creating the business. The higher your percentage of committed funds, the more likely the investment will qualify as substantial.

How the Test Works

Low-cost businesses: You are generally expected to invest nearly all of the required startup or purchase costs.
High-cost businesses: A lower percentage may still qualify if the absolute dollar amount is significant (for example, investing $1 million into a $10 million project).
Case-by-case: There is no fixed percentage, but the investment must be enough to show you are fully committed to the enterprise.

The key question officers ask: Would this level of investment be enough to ensure the business is viable and to demonstrate the investor’s financial commitment?

Example: If your business requires only $60,000 to launch, you would be expected to invest nearly all of it. But if your business requires $2 million, investing $800,000 (40%) might still be considered substantial.

Lawful Source & Path of Funds

To qualify for the E-2 visa, you must prove that your investment funds come from a lawful source and that there is a clear, traceable path into your U.S. business account.

Acceptable Sources of Funds

Personal savings from lawful employment or business income
Sale of assets (real estate, stock, or other property)
Gifts (with documentation of the donor’s lawful source and transfer)
Inheritance (supported by legal documentation)
Personal loans for which you are personally liable (secured by your personal assets or unsecured), as long as the E-2 business’s assets are not used as collateral

What Does Not Qualify

Loans secured by the assets of the E-2 enterprise
Funds where you are not personally obligated to repay (no clear personal liability)
Unexplained large deposits or transfers without supporting documentation

The path of funds requirement means documenting the movement of money from the original source (salary, asset sale, gift, loan disbursement) all the way into the U.S. business account. Expect to provide bank statements, wire receipts, contracts, gift/loan agreements, and related records.

Tip: Create a simple “source & path of funds” table that lists each source, dates, amounts, and matching documents. Adjudicators value a clean paper trail.

Timing of the Investment

A successful E-2 application requires that your funds be irrevocably committed to the U.S. business before the visa interview. It is not enough to simply show money sitting in a personal account. The adjudicator must see that you have already taken concrete steps that put your capital at risk.

Ways to Show Irrevocable Commitment

Signed lease agreements with deposits paid
Paid invoices and/or receipts for equipment, inventory, etc.
Executed contracts with vendors or suppliers
Funds deposited and spent from a U.S. business operating account
Escrow arrangements that release funds automatically upon visa approval

Escrow Accounts

In some cases, applicants place their investment funds into an escrow account (controlled by a third party) pursuant to a binding escrow agreement. This means the money is released only if the visa is approved (for example, to complete a business purchase). Escrow can be a useful tool, but it must be a real and binding contract, not a vague promise to invest later.

What Does Not Work

Funds kept only in a personal savings account
Unexecuted business plans without actual spending
Conditional “letters of intent” with no transfer of funds

Tip: The government wants to see that you are all in. The safest approach is to complete as many startup steps as possible (training, lease, inventory, equipment, professional fees) before applying.

Documenting Your Investment

Meeting the investment requirement isn’t just about spending money — it’s about proving every dollar was lawfully sourced, placed at risk, and tied to the U.S. business. Clear documentation is critical.

Common Evidence to Include

Business bank account statements showing deposits and withdrawals
Wire transfer receipts from personal to business accounts
Contracts with suppliers, landlords, or franchisors
Invoices and receipts for equipment, inventory, and services
Proof of lease payments and utility deposits
CPA or accountant letters summarizing the investment and at-risk expenditures

Organizing the Evidence

The goal is to make the adjudicator’s job easy. Organize your investment proof with a matching spreadsheet or table. Each item should have a supporting document.

Tip: Think like an examiner: if they had only 10 minutes to review your file, would the investment story be obvious? A well-organized set of exhibits makes a strong impression.

Sample Investment Spreadsheet

Below is an example of how to present your investment expenditures. Organize entries by category, list the date and amount, and note the supporting document (invoice, receipt, bank statement). Your actual spreadsheet can be more detailed, but this structure keeps it clear and easy to follow.

Date	Category	Description	Amount (USD)	Supporting Document
01/15/2025	Premises	Lease deposit for office space	$5,000	Lease agreement + wire transfer receipt
02/02/2025	Equipment	Commercial espresso machine	$8,500	Invoice + business account statement
02/10/2025	Inventory	Initial product order	$3,200	Supplier invoice + business credit card statement
02/15/2025	Other	Website design & development	$2,000	Payment receipt + bank statement

Tip: Keep the table clean and consistent. Each row should clearly tie a specific expense to a document that proves it.

Common Pitfalls to Avoid

Even strong entrepreneurs sometimes run into trouble with their E-2 visa investment because of avoidable mistakes. Here are some of the most common issues we see:

Funds parked in a bank account: Capital that hasn’t been spent or committed doesn’t count as an investment.
Relying on loans with no personal liability: If the business fails and you don’t risk personal loss, those funds won’t qualify.
Undocumented transfers: Every dollar must be backed by bank records, contracts, or receipts that show the path of funds clearly.
Passive or marginal businesses: Buying property to hold or investing in a business that only supports the investor’s family will not qualify.
Underspending on essentials: A “light” investment that skips training, equipment, or setup costs can undermine the case because it looks half-hearted.

Tip: The safest approach is to fully commit to launching your business. If you cut corners, the adjudicator may conclude the investment isn’t substantial and that the business isn’t real or viable.

Key Takeaways & Next Steps

The E-2 visa requires a substantial, at-risk investment that’s proportional to the type of business.
Your funds must be irrevocably committed and actively directed toward launching or acquiring the business.
Uncommitted funds, passive holdings, or paper-only entities will not qualify.
The adjudicator must be convinced that your business is real, viable, and capable of creating U.S. jobs.

If the investment falls short or is poorly documented, the adjudicator may conclude that the investment isn’t substantial and that the business isn’t real or viable.

Next Steps:

Map out your startup or acquisition costs in detail.
Make sure your spending is well-documented (bank statements, invoices, contracts, receipts).
Work with a professional to structure everything correctly.
Review the full Complete E-2 Visa Guide to see how investment fits into the overall visa process.

E-2 Visa Investment FAQ

Is there a minimum investment amount for the E-2 visa?

No fixed dollar minimum exists. Instead, the investment must be “substantial” relative to the type of business. For low-cost service businesses, that may mean $80k–$120k; for high-cost operations, several hundred thousand may be expected.

Do funds in my bank account count as an at-risk investment?

No. Funds must be irrevocably committed and at risk — for example, used to buy equipment, pay for a lease, or placed into an escrow account. Operating capital in a business account may be added to the investment total, but the focus will be on the at-risk investment.

Can I use a loan as part of my E-2 investment?

Yes, if you are personally liable for repayment. Loans secured by personal assets or signature loans can count. Loans secured only by the business’s assets, with no personal risk, will not qualify.

When must the investment be made?

By the time of the interview, your investment should already be committed and at risk. The consular officer needs evidence of the investment such as executed leases, bank statements, receipts and paid invoices.Promises to spend in the future will not suffice