US law sets no minimum dollar amount for an E2 visa investment. The Foreign Affairs Manual at 9 FAM 402.9-6(D) instead applies a proportionality test: your invested funds are weighed against the total cost of establishing your specific business. A $60,000 investment can win approval for a consulting firm, while $200,000 can fail for an underfunded restaurant.
That relativity is exactly what confuses applicants. After 12 years preparing E2 business plans from our offices in Texas and New South Wales, we see the same question in every intake call: how much is enough for my industry? This guide answers it with observed ranges across eight common E2 business types, then covers what counts toward the total, what does not, and how to document your source of funds.
The Substantiality Test Under 9 FAM 402.9-6(D)
Consular officers apply three requirements to your investment before they look at anything else in your file.
Proportionality: The Inverted Sliding Scale
Substantiality is measured as a ratio of funds invested to the total cost of purchasing or creating the enterprise. The scale is inverted: the cheaper the business, the higher the percentage you must invest. A $100,000 business generally needs 90 to 100 percent invested. A $500,000 business may pass at 60 to 70 percent. A multimillion-dollar enterprise can qualify with a lower share because the absolute dollars remain significant. If you are new to the visa category itself, start with our explainer on the E2 treaty investor visa before working the numbers.
Funds at Risk
The State Department states that uncommitted funds sitting in a bank account are generally not considered an investment. Money must be subject to partial or total loss if the business fails. A signed commercial lease, purchased equipment, and paid franchise fees are at risk. A personal savings balance is not.
Irrevocably Committed
Funds must be spent or contractually committed before adjudication. Escrow arrangements conditioned only on visa issuance are the one accepted middle ground. Verbal intentions, refundable deposits, and “funds available for transfer” carry no weight.
Observed E2 Investment Ranges by Industry
The table below reflects ranges we observe across approved E2 cases we have written plans for, cross-checked against published guidance from immigration law practices. These are practical planning bands, not legal thresholds. Individual cases vary with location, business model, and consulate.
| Industry | Observed Investment Range | Why This Range | Typical Evidence Officers Expect |
|---|---|---|---|
| Consulting and professional services | $60,000 to $120,000 | Low asset needs; officers scrutinize small totals harder, so near-total commitment and real operating spend matter | Office lease, professional insurance, software contracts, payroll setup, marketing invoices |
| E-commerce | $80,000 to $150,000 | Inventory and fulfillment replace physical build-out; thin-asset models need visible inventory and ad spend | Inventory purchase orders, 3PL contracts, platform and ad spend receipts, warehouse lease |
| Restaurant or cafe | $150,000 to $400,000 | Build-out, kitchen equipment, and licensing drive high total costs; proportionality demands most of it invested | Signed lease, contractor invoices, equipment purchases, health permits, POS contracts |
| Franchise | $100,000 to $350,000 | Franchise disclosure documents fix the total cost, which anchors the proportionality math cleanly | Paid franchise fee, signed franchise agreement, FDD Item 7 estimate, territory lease |
| Retail storefront | $100,000 to $200,000 | Lease deposits, fixtures, and opening inventory set the floor | Lease, fixture and signage invoices, opening inventory receipts, insurance binder |
| Trucking and logistics | $80,000 to $200,000 | One to three trucks plus insurance and authority costs; titled assets document easily | Truck purchase or finance agreements, DOT and MC authority filings, insurance, dispatch software |
| Salon or barbershop | $60,000 to $150,000 | Build-out and stations dominate cost; modest totals need near-100 percent commitment | Lease, build-out invoices, equipment purchases, state board licensing, booking software |
| Tech startup | $70,000 to $200,000 | Development payroll replaces hard assets; officers want contracted spend, not a runway balance | Developer contracts and payroll, IP assignments, cloud service agreements, incorporation and legal costs |
Three patterns run through that table. Asset-heavy businesses require more money but document more easily, because every truck and oven produces a receipt. Low-capital services qualify at smaller totals but face a stricter percentage test, a challenge we cover in depth in our low investment E2 strategies guide. And franchises give officers the cleanest math because the disclosure document itself states the total startup cost; our dedicated resource on the E2 business plan for franchises shows how to present Item 7 figures inside the plan.
Proportionality Planning Bands
Industry ranges tell you the numerator. This framework, which we use internally when scoping client plans, connects it to the denominator officers actually test.
| Total Cost to Establish the Business | Invested Share Officers Generally Expect | Practical Reading |
|---|---|---|
| Under $100,000 | 90 to 100 percent | Commit essentially everything and show real operating expenditure, not reserves |
| $100,000 to $250,000 | 75 to 90 percent | Small financed portions acceptable if personally guaranteed |
| $250,000 to $500,000 | 60 to 75 percent | Larger financed share possible; secured against personal assets, not the business |
| $500,000 to $1,000,000 | 50 to 60 percent | Absolute dollars begin to carry the argument |
| Over $1,000,000 | 30 to 50 percent | Substantial in absolute terms even at minority share |
Consultants and other low-cost service founders sit in the hardest row: the smallest checks face the highest percentage bar. We built a separate playbook for that scenario in our guide to E2 plans for consulting firms.
What Counts Toward Your Investment Total
Officers count funds that are spent, contractually committed, and traceable to you.
Countable items:
- Business purchase price actually paid, or held in escrow pending visa issuance
- Lease deposits and prepaid rent on commercial premises
- Equipment, vehicles, and fixtures purchased or financed with personal guarantees
- Opening inventory that has been ordered and paid
- Paid franchise fees under a signed agreement
- Incorporation, licensing, and professional setup costs
- Contracted build-out, branding, website, and initial marketing spend
- Intellectual property or equipment you transfer to the business, at documented fair value
Items that do not count:
- Cash sitting in personal or business accounts as uncommitted reserves
- Working capital “planned” but not contracted
- Loans secured by the E2 business’s own assets rather than your personal assets
- Your home, unless proceeds from its sale were actually moved into the business
- Speculative future rounds, pledged funds, or letters of intent
- Sweat equity and unpaid founder time
The line between the two lists is the difference between an approval and a 221(g) refusal slip. Your business plan must present an investment table where every dollar maps to a receipt, contract, or wire confirmation, and where the five-year model spends the money credibly. Our article on E2 visa financial projections shows how the projections and the investment table have to reconcile.
Not sure whether your current spend clears the bar for your industry? Send us your investment breakdown and we will tell you, in a free consultation, whether the numbers support a strong plan or need restructuring first. Call +1 (512) 521-1557 or write to us before you sign further contracts.
Source of Funds: Proving the Money Is Yours and Lawful
Substantiality answers “how much.” The source of funds answers “where from,” and officers weigh it just as heavily. You must trace the money from origin to the US business account.
Document by source:
- Personal savings: 6 to 12 months of bank statements plus employment and tax records showing how the balance accumulated
- Sale of property or a business: sale contract, closing statement, and the deposit landing in your account
- Gift: gift letter, the donor’s own source-of-funds evidence, and the transfer record
- Inheritance: will or probate documents plus distribution records
- Loan: loan agreement secured by your personal assets, never by the E2 enterprise itself
- Currency transfers: wire confirmations and conversion records for every cross-border movement
Gaps in the chain trigger RFEs even when the amount is clearly substantial. Assemble this file before the plan is drafted, because the plan’s investment table must match it line for line.
How the Business Plan Argues Substantiality
The investment evidence proves what you spent. The business plan proves the amount is enough, and that the enterprise will be more than marginal under 9 FAM 402.9-6(E). A strong plan states the total cost to establish your specific business, shows your invested percentage against the proportionality scale, and projects revenue and US hiring across five years that justify the capital deployed. Applicants who need the full eligibility picture first, including nationality and ownership rules, can start with our overview of E2 visa eligibility.
Plan Your Investment Case With BPlanWriter
BPlanWriter has written E2 business plans for 12 years across every industry in the table above, through a three-step process: Explain, Draft, Review and Revise. We build the proportionality argument, the investment table, and the five-year financials as one reconciled document, and we revise until your attorney signs off. We are not a law firm; our plans complement, never replace, advice from a licensed immigration attorney. Request a free consultation through our contact page or call +1 (512) 521-1557, and we will give you a candid read on whether your investment level fits your industry before you spend another dollar.
FAQs
What is the minimum investment for an E2 visa?
There is no legal minimum. Officers apply the proportionality test in 9 FAM 402.9-6(D), comparing invested funds to the total cost of the business. In practice, most approved cases we see involve $60,000 or more, with service businesses at the low end and restaurants and franchises well above it.
Can I get an E2 visa with $50,000?
It is possible for genuinely low-cost businesses such as solo consulting practices, but the margin for error is thin. At that level officers expect close to 100 percent of startup costs invested, real operating expenditure rather than reserves, and a hiring plan that defeats the marginality objection.
Does a franchise fee count toward the E2 investment?
Yes. A paid franchise fee under a signed franchise agreement is committed, at-risk capital and counts in full. The franchise disclosure document’s startup cost estimate also helps fix the total against which your percentage is measured.
Can borrowed money count toward an E2 investment?
Yes, if the loan is secured by your personal assets or unsecured on your personal credit. Loans secured by the assets of the E2 business itself do not count, because that capital is not personally at risk.
Do I have to spend all the money before applying?
Most of it, yes. Funds must be spent or irrevocably committed at the time of adjudication. The accepted exception is escrow: placing purchase funds in escrow that releases only upon visa issuance satisfies the commitment requirement while protecting you if the visa is refused.
