Approving your E-2 visa marks a significant milestone in your journey toward expanding your business into the United States. While the approval is cause for celebration, it is also the start of the following critical phase: setting up and managing your business in a way that complies with U.S. immigration and business laws. Here are five essential steps to take once your E-2 visa is approved to ensure you are on the right track.
1. Entry Into the United States
Once your E-2 visa is approved, your first step will be to plan your entry into the United States. Typically, an E-2 visa is issued for up to five years, but you must make sure your visa stamp and the authorized stay duration (given at the port of entry) are aligned with your business plans. Upon entry, U.S. Customs and Border Protection (CBP) will provide an I-94 document specifying how long you can stay. Verify the information on your I-94, as this will be your legal record of entry and stay.
2. Finalize and Establish Business Operations
The next step is to finalize the establishment of your business entity if you haven’t already done so. This includes securing your physical business location, setting up your banking accounts, and formalizing contracts with suppliers or service providers. If your business structure was not fully set up before your E-2 visa approval, now is the time to complete the necessary registrations with federal, state, and local authorities. You must also ensure compliance with local zoning laws, business licensing requirements, and industry regulations.
3. Prioritize Key Business Activities
With your business established, it’s important to set operational milestones to maintain E-2 visa compliance. One key factor for E-2 visa holders is demonstrating that their business is active and generating income. You should prioritize:
- Hiring U.S. Employees: An essential element of E-2 visa compliance is creating job opportunities for U.S. workers. Hiring local employees early will demonstrate your commitment to expanding U.S. job opportunities.
- Establishing Operational Milestones: Develop a clear business plan that includes operational goals such as increasing revenue, expanding market reach, or developing partnerships. These milestones should show the viability and profitability of your business over time.
- Financial Planning: Keep meticulous financial records demonstrating your business’s income and expenses. U.S. Citizenship and Immigration Services (USCIS) may review these records during visa renewals to ensure your business is making a positive economic impact.
4. Stay Compliant with E-2 Visa Requirements
Maintaining compliance with the E-2 visa conditions is critical for keeping your visa status valid. The key requirements include:
- Business Activity: You must continue to operate your business actively. A passive investment, such as owning shares in a U.S. company without participating in day-to-day operations, does not qualify.
- Employment of U.S. Workers: Hiring and maintaining U.S. employees is crucial. Your business cannot exist solely to support you and your family; it must create job opportunities for U.S. citizens or residents.
- Maintaining Non-Marginality: Your business must not be considered marginal. This means it should generate enough income to support you and your family and employ U.S. workers.
5. Plan for E-2 Visa Renewal or Exit Strategy
An E-2 visa does not lead to permanent residency, so starting planning for the future is essential well before your visa expires.
- E-2 Visa Renewal: To renew your visa, you must show that your business remains active and continues to meet the visa’s requirements. Keep records of your business activities, employment records, and financial documents. Reviewing your business performance every year is a good idea to ensure it aligns with E-2 visa standards.
- Exit Strategy: If you decide not to renew your E-2 visa, plan your exit strategy carefully. This may involve selling your business, transferring ownership, or restructuring the company to continue operations without your direct involvement.
Conclusion
Receiving E-2 visa approval is just the beginning of your entrepreneurial journey in the United States. By following these five steps—entering the U.S., setting up your business, prioritizing key activities, staying compliant, and planning for the future—you can ensure that your business thrives and your E-2 visa status remains secure. Whether your goal is to expand your U.S. market presence or eventually seek other immigration options, taking these actions will help set you up for success.
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