What is required when your E-2 Visa business changes?
When your E2 Visa Business changes:
Requirement 1. – As a treaty investor, you must come to the United States to invest in a new or existing business.
U.S.C.I.S (US Citizenship and Immigration Services) defines an E-2 investment as being: investment of certain assets (including funds and other assets) at risk in the commercial sense for the purpose of generating a profit. Your investment may be for the purpose of buying a pre-existing business. establish a new business. Regardless of this, you must demonstrate that the capital you invest is considerable.
Condition 2 – Your investment must be in a good faith business and may not be marginal.
An investment that is considered "bona fide" is a business that is a real and active business or entrepreneurial enterprise that produces services or tangible assets for profit. Such an enterprise can not be an unused investment intended for "potential appreciation", such as undeveloped land or shares held by an investor who does not intend to run the business .
A marginal business is considered a business that will not generate enough revenue for significant economic contribution or provide a minimal life for you and your family.
Upon approval of an E-2 investment, the investor is allowed to work only for the company that he founded (or purchased) and the company must manage the activities previously specified in the application at the time submission. Of course, it can happen that a business owner wants to develop or modify the E-2 business. This raises the question of whether the investor should officially address this change of status, structure, etc.
If a change in activity is major, the investor must ask the consulate for approval for this change of activity. This process differs from one consulate to another, but you should also contact the consulate directly to ask what their criteria are. Some consulates simply ask petitioners, on the basis of previous applications, to send evidence of the new activity (eg new activities, business plan, etc.) and to approve or reject the change.
The consulate may ask you to resubmit your E-2 application, but this depends on changes that have occurred or have occurred. It must be said that this request is only necessary if the change of enterprise is substantial.
For example, if you have an E-2 endorsed visa for a restaurant and you are developing your restaurant business to include a bar. It is unlikely that your business has changed sufficiently to justify a reclassification. However, if you were initially licensed as a wedding photography company and you had started an auto repair shop at the back, this would clearly represent a substantial change in business.
Deposit your change with the USCIS in the United States is another possibility. Again, this is only done if there has been a "substantive change" in the business. A substantive change is defined by USCIS as follows:
"A fundamental change in the basic characteristics of the employing entity, such as a merger, acquisition or sale of the division in which the foreigner is employed." Is considered a "substantial change".
When the USCIS considers that the entity has undergone a "significant change", the filing of a new application in Form I-129 then becomes necessary. Filing the I-129 form with the USCIS facilitates the process of finding and obtaining approval for a "substantive change". In this case, the E-1 / E-2 classification supplement, the $ 325 tax as well as an appropriate explanation and supporting documentation must also be provided at the time of filing.
A "substantial change" in business activities is the key here. When considering the new aspect (s) of your business, can you make a rational connection between the new and the current? If you can make this rational connection, a change request may not be necessary.
When writing your business plan, describing your business and submitting your E-2 application, consider the above, key factors.
For example, the main activity of your business plan may be: wedding photography, but may also describe additional services, such as; "Wedding consultant", "nutrition planning" for weddings, etc.
Taking into account future possibilities when you submit your application, may eliminate the need for additional approvals through these government channels.