E2 for an internet startup (?)

[domino66]

I have been researching the E-2 for several weeks now, and trying to decide if it's right for someone in my situation. I am a Canadian with an American business partner, and together we are launching a website. It's just he and I working on it (although we've hired US web developers / designers).

I have carefully read the requirements for an E-2 and consulted with 2 lawyers, but it really seems like the regulations for the E-2 were not written with internet start-ups in mind. In other words, lawyers I have spoken with have said that for a reasonable chance of success, I'd have to show, among other things:
- an at-risk investment of $100,000
- a 5-year business plan
- a minimum of 2 American jobs created.

The problem, as I alluded to, is that none of those requirements are really reasonable for an internet start-up. They'd make sense, say, if I were opening up a restaurant or a movie theater, but for an internet start-up, they're borderline nonsensical. I mean: $100,000 is a King's ransom for a website! And a 5-year business plan? Facebook is barely 5 years old! I guess I could put together that kind of business plan, but it would be more fantasy than reality.

So I guess the question is really whether the USCIS would take these into account when evaluating my application. The lawyers I have spoken with say that they look at the application as a whole, but I've got absolutely no idea whether they're used to seeing E-2 applications for internet startups, and make allowances for the fact that they're very different animals than "traditional" businesses. I don't want to go through the time/expense of the application process if there is a very low chance of success.

[domino66]

Bump - I guess this is a bit too esoteric a Q to hope for a response on...

[yellow211]

The State Dept website makes it fairly clear:

The Treaty Trader (E-1) or Treaty Investor (E-2) visa is for a national of a country with which the United States (U.S.) maintains a treaty of commerce and navigation who is coming to the U.S. to carry on substantial trade, including trade in services or technology, principally between the U.S. and the treaty country, or to develop and direct the operations of an enterprise in which the national has invested, or is in the process of investing a substantial amount of capital, under the provisions of the Immigration and Nationality Act. For a list of participating countries, select Treaty Countries.

I would say that a tech company would be ok. I would definately recommend you hire a good attorney to handle your case.

[bentlebee]

I doubt you will have a chance if you haven't rented at least an office. Where are you based...Canada or USA?

If you don't pay for a lease, hired employees or at least one and you can't afford to pay them a salary then it will be very hard.

Anybody can starta website but that isn't called a business.

You need to show a business plan, assets and at least an amount that is put in an escrow account that you won't be able to touch unless it is shown and meant for the business.

You don't have to spent $ 150K to start a business and to obtain a E2 visa, you can spend for example $ 75 K but it needs to show that more people can live of the money that comes in within the next yrs otherwise you won't get an extension.

[desionh1b]

Make sure you hire a good CPA & a good immigration attorney to cover your bases. I'm a business broker myself and cannot emphasize enough the importance of using competent CPA's & attorneys.