Why Every E-Visa Applicant Needs to Read FAM
E-visa applications are decided by U.S. embassies or consulates abroad.
The Foreign Affairs Manual ("FAM") instructs consular officers during the adjudication or decision of E-visa applications. While the required supporting documents may vary depending on the consulate, the FAM applies to all. It is therefore worthwhile to know that the provisions of FAM.
Qualifying for an E-2 Treaty Investor Visa
An E2 visa applicant needs to show and prove that they meet all the qualifications and requirements to be able to obtain an E2 Visa.
If you're planning to apply, we have included the FAM citation for each E2 Visa qualification or requirement below to help you:
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You Must "Direct and Control" the Business
9 FAM 402.9-6(F)
The easiest way to prove control is through 50% ownership of the E-2 business.
You may own less than 50% if the majority is held by persons with the same treaty nationality. Public companies take the nationality of the stock exchange where they trade.
E-2 employee applicants must share the investor's nationality. They do not need to invest.
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National of an E2 Treaty Country
9 FAM 402.9-4(B)
You must be a citizen of a qualified E-2 treaty country. U.S. treaties vary, so requirements differ by country.
Applicants who gained citizenship through investment may need three years of domicile first. Exceptions may apply.
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Invested or In The Process of Investing a Substantial Amount of Capital in a Qualifying Business
9 FAM 402.9-6(B)
9 FAM 402.9-6(D)
The investor must make a substantial investment. There is no fixed minimum amount.
Substantiality is measured relative to the total cost of the business. For example, $60,000 may be substantial for a small business but not for a large one.
Consular officers typically look for at least $100,000, though this is not a legal requirement.
Investments can include cash, inventory, or intellectual property.
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Invest in an Irrevocably Committed Investment the Funds
The investment must be irrevocably committed. Speculative or passive investments do not qualify.
Funds placed in escrow count as irrevocably committed. They do not need to be spent before filing. However, you must show the business is at least close to being operational.
Funds in a regular bank account do not meet this requirement. Escrow funds must cover the expenses in your business plan.
If your visa is denied, escrow funds can be returned. Escrow accounts are held by major financial institutions.
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No Marginal Investments
9 FAM 402.9-6(E)
It is required that the investment must not be considered a "marginal
investment". This means that it must generate income beyond to provide a
living for the investor and their family. If the E2 investment has the
capacity to make a significant contribution to the U.S. economy within 5
years, then the investment is not considered marginal.
An easy way to demonstrate that a business is not "marginal" is by employing
workers. An application that involves only future jobs may be questioned by
the consular officer or the USCIS.
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The E2 Business must be "For Profit"
9 FAM 402.9-6(C)
Charities and entities under 501(c)(3) don't qualify as E2 businesses. It is
required that the E2 business is an "active for-profit" business. "Active"
means that the business allows commercial activity, while "for-profit" means
that it must produce goods or offer services. If the investment is passive or
is a non-profit business, then it will not qualify for the visa.
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Lawful Source of Funds
You must be able to prove that you obtained your E2 investment through lawful
means or sources. In practicality, fewer questions are asked about the source
of an E-2 applicant's funds than in an EB-5 visa application.
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Intention to Depart
9 FAM 402.9-4(C)
You must state that you intend to leave the U.S. when your E-2 status ends.
Under 9 FAM 402.9-4(C), you do not need to keep ties to your home country. You may sell your home and move your household to the U.S.
A simple statement of intent to depart is enough. However, some consular officers may still ask questions about this.
What documentation do you need for an E-2 Visa?
U.S. immigration laws do not mandate a lot of required documentation in E-2 visa cases. If you have an immigration lawyer, they can give you a list of the required relevant documents you would need for your application. This would likely include the following:
- Form DS-160 Confirmation Page
- A copy of your valid password that is valid 6 months beyond your intended period of stay in the U.S.
- Passport-size photograph
- Evidence of treaty country citizenship
- A detailed and comprehensive business plan
- Evidence of investment funds
- Evidence of bona fide enterprise
- Articles of Incorporation or Registration
- Lease agreements or property ownership, if you have secured a space for your business
- Financial statements and corporate documents
- Market research
- Payment receipt; and
- Any other supporting documents that can help with your case.
Knowing the documentation expected by different officers in different U.S.
Embassy or Consulate is crucial as well when filing E-2 visas in a specific
consulate.
March 2026 Update: Why Consistent Documents Matter for E-2 Visas and E-2 Visa Renewals
A March 2026 update to 9 FAM 403 confirms that consulate documents are now digitized and stored electronically.
For E-2 applicants, this means:
- Business plans and investment evidence are easier to review at renewal
- Officers can compare filings across applications
- Consistent documentation is more important than ever
What Every E-2 Visa Applicant Needs to Know
E-2 applications are processed at U.S. consulates abroad. If you are already in the U.S. on valid status, you may apply for a change of status through USCIS.
The Foreign Affairs Manual (FAM) guides consular officers on E-2 decisions. Requirements vary by consulate, but the FAM applies everywhere.
See our E-2 visa process and E-2 visa costs guides for more details.
E2 Visa Application Procedure and Processing Times
Step1 - COS or Consular Processing
First, decide whether to file a Change of Status in the U.S. or apply at a consulate abroad. See our
COS vs. consular processing guide.
- An E2 status is different from an E2 visa. E2 visas can only be obtained
from a US consulate outside the United States. An experienced
E2 visa lawyer
can help you understand the important steps to take during your application to the consulate.
- The application for E-visas don't involve the filing of an application or petition with the DHS or USCIS.
- The DHS and USCIS only rule on E2 visa Change of Status cases and extension of E2 status cases filed in the U.S.
- The DHS and USCIS are not involved in the initial adjudication of an E visa. This gives E1 and E2 visas a significant advantage in terms of processing time.
Step 2 - Which Consulate to Use
As consular procedures and processing times vary, the choice of consulate can be critical. Your E-visa lawyer can give you advice on this choice. The consular options include:
- The US consulate where the applicant lawfully resides.
- The consulate in an applicant's home country.
- Sometimes the consulate serving the area where an applicant is visiting may be willing to adjudicate an application.
What Questions Will I Be Asked at My E-2 Visa Interview?
Questions vary by consulate and officer. Common topics include:
- How much you invested
- Where the funds came from
- Your role in the business
- The business plan and operations
Golden Rule for E-2 Visa Success
E-2 visas are filed directly at a U.S. consulate. USCIS is not involved in the initial decision. This gives E-2 applicants faster processing than most visa types.
Note: an E-2 status (granted inside the U.S.) is different from an E-2 visa (issued at a consulate). USCIS only handles change of status and extension cases.
You can apply at:
- The consulate in your home country
- The consulate where you lawfully reside
- Sometimes, a consulate where you are visiting
Key Features of the E-2 Visa for Treaty Investors
When compared to other nonimmigrant visa classifications, here are some of the key features of an E2 Visa:
- The treaty investor and their qualified employees can work legally and
strictly in the E2 investment enterprise so long as the investor and their
employee are nationals of the same treaty country;
- The visa validity depends on a reciprocity schedule is
initially (usually 5 years) depending on the investor's country
of origin which can be extended indefinitely.
- The treaty investor can be accompanied by their spouse and unmarried
children under the age of 21.
- The spouse, not the children, may be employed in the U.S. without a need
for an Employment Authorization Document (EAD).
Limitations of an E-2 Visa
Like other classifications, there are limitations visa applicants may experience under an E2 Visa:
- It's a non-immigrant visa, which means that it doesn't directly lead to a lawful permanent residence or a green card.
- To maintain the treaty investor status, you must maintain a substantial investment in an active business and be involved in its management and control.
- It's only available to nationals of treaty countries, which are countries
that have a treaty of commerce and navigation or a qualifying bilateral
agreement with the U.S., or those which has been deemed qualified by law.
- The visa doesn't offer a direct road to U.S. citizenship.
Business and Investment in E-2 Visa
The business must produce goods or services. The investor must direct and develop it day to day.
It cannot be a marginal enterprise. It must add value to the U.S. economy. A strong business plan helps prove this.
The investment should generally be made before the visa is granted. The E-2 allows you to manage your enterprise, not to make new investments.
There is no fixed investment amount. The investment must be substantial enough for the business to succeed.
About the Authors
Mark I Davies, Esq.
Chairman of Davies & Associates; focused on E visa strategy and complex consular filings.
Mark I Davies, Esq. JD, University of Pennsylvania Law School, Licensed with the SRA (SRA ID: 384468) in the UK, Member Law Society of England & Wales, MBA, Wharton School of Business. Top 10 Investment Visa Lawyer, Licensed (USA), Georgia State Bar. AILA Member.
| Area |
Details |
| Education |
JD, University of Pennsylvania Carey Law School | MBA (Finance), The Wharton School, University of Pennsylvania | Chartered Accountant (ICAEW) |
| Financial Training |
Completed Analyst Training Program at a major international bank | Chartered Accountant background with professional training in financial analysis and reporting |
| Legal Practice |
Admitted to practice in Georgia (USA) | Registered Solicitor with the Law Society of England & Wales | Former CMBS lawyer at one of the world's largest international law firms |
| Immigration Track Record |
15+ years advising HNW investors | Zero denials for clients advised on source-of-funds compliance in EB-5 | Hundreds of successful EB-5 cases globally |
| Recognition |
Named a Top 25 EB-5 Immigration Attorney by EB5 Investors Magazine (2018–2023) |
| Professional Engagements |
Lecturer/trainer for other lawyers at AILA, ACA, University of Pennsylvania Law School | Frequent speaker at global investment immigration conferences |
Country Specific E-2 Guides:
About the Authors
Mark I. Davies, Esq.
Chairman of Davies & Associates; focused on E visa strategy and complex consular filings.
Mark I. Davies, Esq., J.D., University of Pennsylvania Law School, licensed by the
SRA (SRA ID: 384468) in the UK, and a member of The Law Society of England & Wales,
MBA, Wharton School of Business. Top 10 Investment Visa Lawyer. Licensed in the USA.
Georgia State Bar member. AILA member.
| Area |
Details |
| Education: |
JD, University of Pennsylvania Carey Law School | MBA (Finance), The Wharton School, University of Pennsylvania | Chartered Accountant (ICAEW) |
| Financial Training: |
Completed the Analyst Training Program at a major international bank | Chartered Accountant background with professional training in financial analysis and reporting |
| Legal Practice: |
Admitted to practice in Georgia (USA) | Registered Solicitor with the Law Society of England and Wales | Former CMBS lawyer at one of the world's largest international law firms |
| Immigration Track Record: |
15+ years advising HNW investors | Zero denials for clients advised on source-of-funds compliance in EB-5 | Hundreds of successful EB-5 cases globally |
| Recognition: |
Named a Top 25 EB-5 Immigration Attorney by EB5 Investors Magazine (2018–2023) |
| Professional Engagements: |
Lecturer/trainer for other lawyers at AILA, ACA, University of Pennsylvania Law School | Frequent speaker at global investment immigration conferences |
E-2 Visa for UK Citizens
E-2 Visa for Italians
E-2 Visa for Australians
E-2 Visa for Singaporeans
E-2 Visa in New York City
E-2 Visa for Canadians
E-2 Visa from the UAE
E-2 Visa for Argentinians
E-2 Visa for Germans
E-2 Visa for French
E-2 Visa for Turkish
E-2 Visa for Grenadians
E-2 Visa for Taiwanese
