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E2 Finance via Credit Card

Discussion in 'General E-1, E-2 and E-3 Visas and Related Issues' started by MacTexas, Nov 11, 2013.

  1. MacTexas

    MacTexas Registered Users (C)

    My wife and I would like to move to Texas from the UK on an E-2 visa. We are planning to start a franchise business and are in talks with 2 franchisors.

    Our immigration lawyer told us the UK consulate typically expects at least $100k investment for an E-2.

    Right now, we have about $70k cash. Using credit cards, we would like to borrow about $30k short term to bridge the gap.

    We have some assets over here which should cover the credit card amount and more - but they will take some time to sell.

    Are there any problems in using credit cards in this way to seed the US business for an E-2?
     
  2. del0175

    del0175 Registered Users (C)

    You may want to show your bank balance and the value of the physical assets (like property, stocks/bonds, etc.) to demonstrate your financial situation. Unless you can borrow the money on your credit card and deposit it in your checking account, that really does not count. The consulate officers analyzing your E2 visa application are looking for hard evidence of your ability to finance a business in the US and there are many ways to prove it to them.
     
  3. MacTexas

    MacTexas Registered Users (C)

    Thanks for the reply.

    Yeah, I was intending to do exactly that - I have some pretty big "interest free" offers on transferring balances to my checking account (there's a 4% transfer charge) ,so I could get enough cash into the US corporation's accounts.
     
    Last edited by a moderator: Nov 15, 2013

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