What kind of business qualifies for an E-2 visa?

What makes an E-2 business qualify?

The E-2 rules do not list permitted industries. They describe the kind of enterprise that meets 3 requirements. Any business type can qualify. The test is whether that specific business, with that specific investment and structure, passes each one.

Under 9 FAM 402.9, a consular officer checks:

1. Real and operating. The business produces a service or a product. It cannot be a paper company or an idle investment held for appreciation, such as undeveloped land.
2. Substantial investment. The qualifying funds invested are proportional to the total cost of the business. A lower-cost business generally needs a higher share of its cost invested.
3. More than marginal. The business has the capacity to do more than earn a living for the investor and family, generally within 5 years. Jobs for people beyond the investor are one of the clearest ways to show this.

For the full list of 9 points an officer checks, see E-2 visa requirements explained (opens in a new tab).

The business plan is the document that connects these 3 tests to the specific business. For what goes in it and how it is structured, see what goes into an immigration business plan (opens in a new tab).

Franchise businesses

Franchises are among the most common E-2 structures, and their strength is largely evidentiary. A franchise brings ready-made proof that an officer needs.

The Franchise Disclosure Document (FDD) shows the full cost of entry, which builds the investment proportionality case. The franchisor's operating history shows that the concept works, which addresses the real-and-operating question for a new location before it opens. A staffed model, where the investor manages a team rather than doing every task, addresses marginality cleanly.

Franchise categories that have a track record in E-2 cases include cleaning and home services, senior and healthcare services, food service, fitness and wellness, and home improvement. The list is not official. What matters is whether the specific unit passes the 3 tests, not the brand name.

What the plan needs to show for a franchise:

Buying an existing business

An investor can buy a U.S. business that is already operating, rather than starting one. The purchase price is compared with the fair market value, which is usually the same as the price, and that total becomes the cost of the business in the proportionality test. Under 9 FAM 402.9-6(D), the investment is then assessed against that figure.

The main advantage of an existing business is evidence. It already has customers, staff, revenue and financial history. Marginality is easier to show when the business already earns above a minimal living. The plan explains what the new investor will change, grow or improve.

What the plan needs to show for a purchase:

Food and beverage businesses

Restaurants, cafes, food trucks and specialty food businesses qualify for the E-2 when their investment and staffing structure passes the 3 tests. Food service businesses often clear the investment test naturally, because a commercial kitchen, build-out, equipment, licenses and working capital add up quickly. That total then becomes the cost of the business.

The plan for a food business puts extra weight on the hiring timeline. A restaurant with a chef, floor staff and delivery team has job creation built into its model. That is what the marginality analysis looks for. Projections need to reflect realistic covers per service, pricing and payroll, with assumptions tied to the location and the concept.

Home services and cleaning

Cleaning, landscaping, pest control, HVAC, plumbing and similar home-service businesses qualify when structured correctly. They are common in E-2 cases because their models create jobs in clearly defined roles, which makes the marginality argument straightforward.

The challenge is the investment test. A cleaning business has lower startup costs than a restaurant, so the investor generally needs to invest a higher share of the total cost. The plan's use of funds needs to account for equipment, vehicles, insurance, working capital and the first months of operations, so the total cost is well-documented and the investment as a percentage of it is clear.

For how the proportionality test works, see how much do you need to invest for an E-2 visa (opens in a new tab).

Healthcare and senior care services

Senior care, home health aide services and wellness businesses are among the fastest-growing E-2 categories. The model works well for the visa because demand is documented in public data, job creation is built into the staffing model, and the investor typically takes a managing rather than hands-on role.

A staffed home care agency, for example, creates a team of caregivers managed by the investor. The plan shows the management structure, the certification or licensing requirements in the state, and how revenue grows with the number of clients and caregivers. Financial projections need assumptions tied to the local population and the going hourly rate for care in that market.

Logistics, transportation and warehousing

Logistics businesses, trucking companies, courier services and last-mile delivery operations can work well for the E-2 because their startup costs include vehicles, insurance, licensing and facilities, all of which build the investment base, and because growth in this sector usually means more drivers and more routes, which creates jobs.

The plan for a logistics business maps the fleet size, the routes, the contracts or customer pipeline, and the hiring schedule. Revenue projections are built from contracted loads or average deliveries per vehicle, and payroll tracks the driver count year by year.

Retail businesses

Retail operations, including product shops, specialty stores and e-commerce businesses with a U.S. physical presence, can qualify. The investment in lease deposits, fit-out, inventory and working capital builds the proportionality case. Staffing a shop with sales and stocking roles addresses marginality.

An investor who buys an existing retail store benefits from its sales history and customer base. A new retail concept needs to show projected customer volume, its pricing and what distinguishes it in the local market. The plan's market analysis section carries extra weight for retail, because it shows real demand for the specific product or concept in that location.

Consulting, technology and professional services

These businesses can qualify, but they require more careful structuring than a franchise or a restaurant. The challenge is the investment test. A consulting or software business can start with very low costs, so the investor needs either a higher documented investment or a clear case that the total cost of becoming operational is higher than it appears.

A technology company that builds a product, sets up infrastructure, hires engineers and operates an office has a higher cost base than a solo consultant with a laptop. The plan's use of funds needs to show what the investment actually buys: servers, software licenses, office space, salaries for key hires and product development costs, all documented.

The marginality test for a service business often rests on a team, not just revenue. A consulting firm where only the investor earns income is harder to position as more than marginal. One where the investor manages 3 to 5 specialists, each billing their own hours, is easier.

Can an online business qualify for an E-2 visa?

This is one of the most common questions from E-2 applicants, and the answer is: sometimes, but it depends on the structure.

The Foreign Affairs Manual says a physical office is not required for an E-2 business. That settles the most common misconception. But the other rules still apply fully.

The real and operating test. Under 9 FAM 402.9-6(C), the business must produce a service or product and cannot be a passive or speculative investment. An online business that sells products, provides software, delivers a service or generates revenue from real customers passes this test. An online business that is not yet generating revenue and is waiting for the visa before it starts is harder to show as real and operating.

The investment test. This is where many online businesses struggle. A purely digital business can start for very little money. If the total cost of the business is small, the investment must cover a high share of that cost, and the resulting number may not be enough to show financial commitment to the enterprise. An investor who documents cloud infrastructure, software development costs, U.S. entity formation, office or coworking space, marketing and working capital can build a higher and more defensible investment base.

The marginality test. A solo operator running an online business from home, with no U.S. employees and income going mainly to the investor, is very hard to position as more than marginal. An online business with a U.S. team, documented growth plans and projections that show revenue growing well past the investor's living costs has a much stronger case.

What works better for online businesses:

• An e-commerce business with a U.S. warehouse, logistics staff and a customer service team
• A software or SaaS business with U.S.-based engineers or customer success staff
• A digital marketing or creative agency where the investor manages a team of specialists
• An online education or training platform with content production staff and a U.S. student base

What is harder to show:

• A solo freelancer or consultant who works remotely with no U.S. team
• A passive investment in an online platform, such as a website portfolio or affiliate site
• A digital business where the investor is the only earner and there are no U.S. employees

If your business is online or location-independent, the plan needs to work harder on 2 things: documenting the full investment cost with line-item evidence, and showing a hiring plan that creates U.S. jobs as the business grows.

For how the hiring plan supports the E-2 case, see the hiring plan and job creation schedule (opens in a new tab). For five-year projections that show growth past the marginality threshold, see five-year financial projections (opens in a new tab).

What kind of business does NOT qualify?

The Foreign Affairs Manual sets out what does not work. Under 9 FAM 402.9-6(C), a business that only earns income through holding real estate, owning stocks or other passive investments does not qualify. Neither does a business that simply stores an asset waiting for it to grow in value.

A few specific structures that do not qualify under the E-2 rules:

• Undeveloped land or property held for appreciation
• A passive investment in another company, such as a silent partnership with no operational role
• An investment that amounts to a job for the investor, not a business, such as driving for a rideshare platform
• A non-profit or charity, because the E-2 requires a for-profit enterprise

The question of a purely online business with no U.S. presence falls into a gray area. The FAM says a physical office is not required, but the other tests still need to be met. The structure matters more than the digital or physical nature of the business.

Which factors matter most when choosing a business type?

The E-2 rules do not point to any business as the right choice. The right business is the one that fits the investor's experience, can be properly capitalized, creates jobs as it grows, and can be shown to be real and operating at the time of filing.

A few questions shape the choice:

Your immigration attorney can confirm which structure fits your case. The business plan builds the evidence for whichever structure you and your attorney agree on.

Where does VisaPlans fit?

VisaPlans prepares the E-2 Business Plan (opens in a new tab) for every business type covered here: franchises, purchases, food and beverage, services, technology and online models. Expert-trained AI writes the plan and a human specialist reviews every page. Delivery is within 3 business days of confirmed information. See pricing (opens in a new tab) for what is included.