Many are familiar with the E-2 visa program which has been the traditional route for immigration to the US. However, for those who have resided in America for a number of years there has been a degree of anxiety, as well as expense at renewal periods. It is increasingly clear that renewal of the E-2 visa cannot be taken for granted however long you have lived in America.
New E-2 applicants are finding a lengthy waiting period, possibility of rejection, and the need to inject an increasingly higher level of funding to find a qualifying business.
There are particular concerns
»» If you wish to retire,
»» Have children approaching their 21st birthday,
»» If you want to remain legally in the US
Another downside is the E-2 has ‘non-immigrant’ status, which has serious implications that many have ignored to date. There are thousands of E-2 visa holders living in the US and sooner or later they are going to have to confront their status. If they sell their business or it ceases operating, their E-2 Visa will not be renewed. In addition, children reaching the age of 21 will need their own visas or be forced to leave the US. Such a lack of long term security will not suit everyone looking to reside in the US.
Comments from a Consular Office
‘I would also like to point out that a non immigrant (E-2) visa is not a good option for someone who intends to reside permanently in the US. If the investor retires or sells their investment, his or her visa status lapses and he or she must leave the US. Only single dependent children under 21 are eligible for visas to accompany their investor parent, and when these children turn 21 they lose their status as a dependent and their visa. The more secure option for those that have the necessary capital is the permanent resident (green card EB-5) investor visa. In this case the required investment is one million dollars, or under certain circumstances $500,000.’
-John Caulfield, Consul General, US Embassy London.
The EB-5 investor green card option is rapidly becoming increasingly popular, not only because the E-2 investor visa has become so difficult, but because with an EB-5 Visa the person is not burdened with the daily management of the business.