IN THIS GUIDE · Treaty nationality is a fact about people, and the money must have left your control
Start with the E-2 eligibility and application overview
Nationality first, then the arithmetic
Treaty status follows citizenship, not residence. Where the enterprise itself is treated as having nationality, at least fifty per cent of its ownership must be held by nationals of the treaty country who are not United States permanent residents. That single rule decides more cases at the planning stage than every other element combined, because ownership splits are usually settled for commercial reasons months before anybody looks at them for immigration. Map the cap table early, holder by holder, with each person’s country of citizenship beside their percentage, and confirm current treaty status on the official Department of State list rather than from memory or from a summary written years ago.
Irrevocably committed, and genuinely capable of being lost
Money is at risk when it is subject to partial or total loss if the business fails. A fully refundable deposit is not at risk; funds released from escrow into the seller’s hands on an unconditional closing are. Signed leases, paid invoices, purchased equipment, and non-refundable commitments all evidence risk. Amount is judged proportionally: substantial in relation to the total cost of purchasing an established enterprise or establishing a new one, which is why a modest sum can be substantial for a service business and inadequate for a production facility. The enterprise must also be real and operating, and must generate more than a marginal living for the investor and family.
Develop and direct, and what the category does not offer
The investor must be in a position to develop and direct the enterprise, ordinarily through ownership of at least half of it or through demonstrable operational control such as a managing partner interest or a controlling voting arrangement. A passive holding does not qualify. Spouses of treaty investors are employment-authorized incident to status, and unmarried children under twenty-one may accompany and study. What the category does not include is any direct path to permanent residence; renewals may continue while the enterprise and the qualifications continue, and a family that intends to settle permanently should plan that separately from the outset.
Sources reviewed 2026-09-07. This guide covers a preparation focus; it is not an individual eligibility assessment.