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When European founders think about moving to the US, the O-1 visa usually dominates the conversation. It's the "extraordinary ability" visa, and for founders with strong press, awards, or a clear track record, it's an excellent path.
But most early-stage founders don't have that profile yet. They're building something new, and their biggest accomplishments are still ahead of them. For these founders, the E-2 Treaty Investor visa is often the smarter, faster option.
This guide covers what the E-2 is, who qualifies, and what you need to make it work.
What is the E-2 visa?
The E-2 is a nonimmigrant visa for citizens of countries that maintain a treaty of commerce with the United States. It allows you to enter the US to develop and direct a business in which you've made a substantial investment.
Key features:
- No annual cap or lottery
- Applied for at a US consulate abroad
- Renewable indefinitely as long as the business operates
- Spouse receives work authorization
- Can include employees with the same nationality in executive, supervisory, or essential-skill roles
Who qualifies?
Two primary requirements:
1. Treaty country citizenship. Your home country must have a commerce treaty with the US. Most European countries qualify: Czech Republic, France, Germany, Spain, Italy, the UK, Sweden, and many others. The full list is maintained by the US State Department.
2. Substantial investment in a real US business. There's no fixed dollar minimum. "Substantial" is measured relative to the type of business you're starting. A software company has different capital needs than a restaurant. What matters is that the investment is genuine, at risk, and sufficient to make the business operational.
The business must be real and operating. You can't use the E-2 for a paper entity or idle speculative investment. It needs to be a for-profit enterprise that generates economic activity and employment.
What you'll need to apply
The E-2 application goes to a US consulate or embassy in your home country. The documentation is extensive but straightforward:
Ownership and entity documents: articles of incorporation, share certificates, organizational chart showing ownership structure.
Investment evidence: a complete money trail showing where the funds came from, how they moved to the US, and how they were spent on qualifying business expenses. This includes bank statements, wire transfers, invoices, and receipts.
Business viability: for startups, a 5-year comprehensive business plan covering market analysis, staffing projections, financial forecasts, and a detailed timeline of first-year activities.
Tax documentation: US business tax returns (if applicable), personal tax returns, employer quarterly filings.
Personal documents: passport copies, resume, diplomas, and any immigration history.
The consulate wants to see that the investment is real, the business is viable, and you intend to develop and direct it. Thorough documentation is the single most important factor.
E-2 vs. O-1: how to choose
The choice depends on your profile and timeline:
The O-1 requires extraordinary ability: press coverage, awards, high compensation, or a demonstrable record of achievement. It's a strong option for serial founders or those with significant visibility.
The E-2 requires a real investment in a real business. It doesn't demand a track record of extraordinary achievement. For first-time founders or those early in their journey, the E-2 is often more accessible.
One important distinction: the E-2 is not a direct path to a green card. The O-1 can be part of a green card strategy. Many founders start with an E-2 to get operational in the US, then transition to an O-1 or EB-1 once their profile is strong enough.
Common mistakes to avoid
- Underinvesting: the investment must be proportional to the business. A $5,000 investment in a company that needs $100,000 to operate won't pass.
- Incomplete money trail: every dollar must be traceable from its original source to its use in the business.
- Missing the business plan: startup applicants need a detailed 5-year plan. Generic templates won't cut it.
- Wrong entity structure: the business must be majority-owned by nationals of the treaty country. If your ownership structure doesn't reflect this, it needs to be fixed before you apply.
The bottom line
The E-2 visa is one of the most practical paths for European founders entering the US market. It doesn't require extraordinary ability, has no lottery or cap, and gets you building on US soil while you figure out the long-term immigration strategy.
At Fellow, we work alongside immigration counsel to help founders choose the right visa path and get their corporate structure set up correctly from the start. If you're expanding to the US and the O-1 doesn't fit yet, the E-2 is worth a serious look.
