First of all, you must have a substantial amount of money OVER the $100,000 that you can use to live on for at-least 1 year ... you can not use the store to support yourself at first ...that is called a marginal enterprise.
Second, it is best if you own 51%.
Third, $100,000 is the bare-minimum and will only be accepted by the US government if it is appropriate to the overall value of the business (aka: proportionality test) Thus, your cousin needs to pay for a business appraisal that shows it to be worth $200,000.
Fourth, this is quite complicated and requires a good, written, business plan.
Thus, as I hope you can see, you should hire a lawyer to help with the process.
PS Yes, you would apply in Bangladesh at the US Consul and, not, a denial of the E-2 won't necessarily result in the cancellation of the B visa, but it could if you give the Consul reason to think that you aren't being honest ... another reason to hire a lawyer.
PROFESSOR OF IMMIGRATION LAW for over 10 years -- email@example.com -- www.capriotti.com -- This blog posting is offered for informational purposes only. It does not constitute an attorney-client relationship. Also, keep in mind that this is an INTERNET BLOG. You should not rely on anything you read here to make decisions which impact on your life. Meet with an attorney, via Skype, or in person, to obtain competent personal and professional guidance.
First, you should know that although Bangladesh is a treaty country, part of the Reciprocity deal is that they will not issue U.S. visas for a period longer than 3 MONTHS. So you will need to renew your visa very often. However, you will still be issued a 2 year I-94 upon entry to the U.S. $100K is theoretically enough but it is really the bare minimum. Owning only 50% can be done if you have a proper shareholders agreement that gives you daily control of the business but 51% is a much better way to go. It is very complicated. We submit a few of these a week and most of them are 300-400 pages. NOT something you should do on your own!!
An E2 application would not mean the cancellation of your B visa, but it could complicate things in the future. $100k should be fine. This will go smoother if you control 51% but that's not mandatory. You would be best off working with a lawyer. These things are complicated.
This is not legal advice and no attorney-client relationship has been formed, now or in the future. This is just a casual opinion expressed about a hypothetical situation.
You must be sure to invest a ¨substantial¨amount so that the business is not considered ¨marginal¨. There is no magic set dollar figure that automatically qualifies an investment as ¨substantial¨; this depends, on the size and characteristics of the specific business. The investment amount must satisfy what is known as the ¨proportionality test.¨ I usually counsel my clients to invest a minimum of $150,000 in at-risk funds in a small business, but sometimes less is needed, other times, more.
It makes things easier of you own an at least 51% controlling interest in the business, but there is something called the Negative Control Rule, whereby one can qualify as and E-2 investor where you have 2 (but not more) partners, each owning exactly 50% of the business, each with equal control over the business and equal veto rights. Each owner has the equal capacity to make decisions that are binding on the entity, and each owner retains full management rights and responsibilities. In this Negative Control situation, however, the other 50% owner must be a national of the treaty country.
Your spouse and children under 21 can accompany you or follow to join you, and your wife would be permitted to obtain work authorization.
A denial of the E-2 would not automatically revoke your B1/B2 status, but were you to be denied for the E-2 based on a perceived immigrant intent, for example, this could bring you problems for your B1/B2.
Best of luck to you.
Please note, the above answer is for general informational purposes only. We are a full-service immigration and criminal defense law firm, representing clients in all 50 states and worldwide. Kristy Figueroa-Contreras, Esq., firstname.lastname@example.org, NEGRI, TORRES & FIGUEROA-CONTRERAS, PA, The Minorca, Suite 214, 2030 South Douglas Road, Miami, FL 33134, Tel. (305) 639-8599. Hablamos español. Falamos português.
In most instances, $100,000 should be enough. However, you must understand that there are other requirements. Specifically, overcoming the marginality test.
The information on this website is not intended to be legal advice.
There are a number of issues surrounding E-2 visas. Whether $100,000 will be enough of an investment will depend upon different factors including the value of the busness eterprise, how much of the enterprise you will own, and whether it is profitable or not, to name a few. Also, in most instances, the investment must be made prior to your application for an E-2 visa so the risk is great if the visa is refused.
You will best be served by consulting with an immigration attorney who has extensive experience dealing with E-2 visa issues. He or she can explain the ins and outs of a successful application so you do not find yourself disappointed.
Click on the link below for information on E-2 visas and immigration for business investors. Many immigration attorneys will conduct consultations via telephone or Skype for clients outside their local area.
While this answer is provided by a Florida Bar Certified Expert in Immigration and Nationality Law, it is for general information purposes only and an attorney/client relationship is neither intended nor created. You should seek out qualified counsel to review your case and provide you with advice specific to your situation. Call +1-561-478-5353 to schedule a consultation with Mr. Devore.
It is recommended that you hire an E2 Lawyer for your matter. More than 50% ownership is often better. The amount of investment will depend on the type of business. There is no strict minimum dollar amount. What type of business will this be? Be prepared for the types of questions asked on each B1/B2 entry and follow the permissible activities on this visa.
You should contact an E2 visa lawyer before coming to the United States. Many offer a free consultation. Sachdev Law PC - Phone: 916-248-6667.
MUST READ FULLY: 1-916-248-6667. THIS IS NOT LEGAL ADVICE. I am not your attorney by posting or answering or even by consulting with you initially. You may not quote that I am your attorney in any way. California licensed attorney only. This is general information and is not legal advice for your particular situation. You need to consult with an attorney licensed in your state prior to taking any action. There are time limits for some actions you can take and you need to consult a local attorney regarding these. Posting of information about your case is at your own risk. Do not post anything confidential. Contact an attorney directly and confidentially instead. The information posted here may not be confidential.