How the E2 Investor Visa Aligns with the Rise of Digital Economy Startups
The American market has seen an astonishing rise in the quarter-century since the Dot-com Bubble burst. Artificial intelligence and machine learning account for much of this impressive rise. The focus still remains on Silicon Valley despite challenges in recent years. That means California could be the ideal place for your digital economy startup.
For businesspeople like you, the E2 Investor visa is ideal. It allows you to bring the right employees with you to start your US-based business, and comes with an impressive degree of flexibility.
Bringing Your Best Workers with You
In a tech sector that is increasingly driven by the super individual contributor, those with the skills, experience, and ability to leverage AI to drive value for your business as an individual. Digital economy startups are no different, and you can bring trusted workers with you to the US on the E2 Investor visa to participate in your most specialised roles.
You will also want to bring trusted executives with you to the US, who you will be comfortable giving absolute control over your business operations. As a result, you will have the flexibility needed to start and operate digital economy startups in other parts of the world.
In your E2 visa application, it is essential to show that the workers you are bringing with you have suitable skills and a position in your business’s hierarchy. Prove this by including their resume, a detailed job description, and a letter from you detailing their responsibilities.
Any worker who is not in a specialised role or will be in an executive position cannot be brought with you on the E2 Investor visa. Instead, you will need to hire such individuals from the domestic US labour market. Luckily, you will find this market has plenty of talent to pick from.
Stay as Long as You Want
Digital economy businesspeople also love the E2 Investor visa because it comes with the theoretical ability to remain as long as you want, meaning that your business can become permanent. The validity of your visa will be reciprocal to what is offered to US businesspeople in return by your home nation. For example, British nationals have a maximum E2 validity of five years. However, so long as your business remains active and you fit the other visa requirements, you can renew the visa as many times as you like. Each renewal will usually add on the same length of validity as your initial visa.
US visa authorities have strict processes to check that you and your business are still eligible. Firstly, you will need to submit Form I-129 if you are extending from inside the US and Form DS-160 from outside the US. You will also need to show up-to-date financial documents, including tax returns and bank statements. This will show that your business is active and generating significant profits. You can also submit payroll documents to show the contribution your business has made to the domestic labour market.
Requirements Your Digital Economy Startup Needs to Fulfill
Not every digital economy startup will be appropriate for the E2 Investor visa. Firstly, it needs to be based in the USA. The business can also not be marginal. As such, it has five years to make a meaningful profit and to contribute to the US economy. Often, the business will need to offer jobs to the US market.
There are also stringent requirements on yourself as the investor. Firstly, you need to be from a nation that shares a financial treaty with the USA, and own at least 50% of the business. You also need to be in the process of investing or have invested finances that you cannot easily recover. The money can already be in your business or in an escrow account with appropriate conditions of withdrawal. You will need to show that you obtained the finances through legal means, such as through other business activities. Finally, your travel to the US must be for the sole reason of opening and operating your business.
What Other Visas Could be Appropriate?
The E2 Investor visa isn’t the only option for investors who would like to join the rising digital economy startups. Firstly, for those who want to make their move to the USA permanent, the EB-5 route could be ideal. It gives you access to a Green Card, so that you can live and work permanently in the USA and have a pathway to full citizenship.
EB-5 may not be appropriate for all digital economy investors due to the hefty minimum investment requirement. You will need to invest $1,050,000 unless your business is classified as within the Targeted Employment Area (TEA), dropping the minimum investment down to $800,000.
L-1 may also be appropriate for some businesspeople, as it allows for intracompany transfers to a US entity. This could be suitable if your business already has permanent operations in the US and your home country.
How Can IAS Help?
The E2 Investor visa is essential for consideration if you are an experienced businessperson in the digital economy with access to the capital needed to begin a business in the USA. Yet, the application process can prevent eligible individuals from applying. For example, the lack of a clear minimum investment can make it difficult to understand if your business is eligible.
Immigration law firms like Immigration Advice Service can help you understand if your digital financial services startup is eligible. We can then guide you through the whole application process to give you a great chance at success despite the difficult US immigration landscape. We then remain connected to you after your successful application to assist with your E2 visa renewal.
To learn more about how IAS can help, visit our website or call us to be directly connected with an immigration lawyer or advisor.
