E-2 Visa Minimum Investment 2026: How Much Money Do You Really Need?

Is there a minimum investment for the E-2 visa?

No. There is no legal minimum investment for the E-2 Treaty Investor visa. The State Department's adjudication guidance, 9 FAM 402.9, states plainly that no set dollar figure constitutes a minimum amount of investment to be considered "substantial". Neither the Immigration and Nationality Act nor the regulations in 8 CFR 214.2(e) name an amount either. Any figure you read on a website is an estimate, not a rule.

What the law requires instead is a substantial amount of capital, irrevocably committed and at risk, in a real and operating US business that you develop and direct, owned at least 50 percent by nationals of your treaty country. For readers in Germany, Austria and Switzerland the nationality condition is met: all three countries have E-2 treaties with the United States, in force since 14 July 1956, 27 May 1931 and 8 November 1855 respectively. The same applies to Italy and Turkey, among many other treaty countries. Our E-2 guide for Germans, Austrians and Swiss covers the full requirements, consulates and family rules; this article focuses on one question only: how much money is enough.

German readers often search for an "E2 Visum Mindestinvestition", and Italian readers for a "visto E2 investimento minimo". The honest answer in every language is the same: the amount depends on the business, not on a published threshold.

What does the State Department mean by "substantial"?

Under 9 FAM 402.9-6(D), a substantial investment is an amount that meets three conditions at the same time:

• it is substantial in a proportional sense, measured by the proportionality test;
• it is sufficient to ensure your financial commitment to the successful operation of the enterprise; and
• it is of a magnitude that supports the likelihood that you will successfully develop and direct the enterprise.

The guidance explains the purpose: to ensure, to a reasonable extent, that the business is not speculative but is, or soon will be, a successful enterprise, and that the investor is unquestionably committed to it. Once the consular officer accepts that your investment is substantial, it generally does not need to be assessed again unless ownership changes, for example through an acquisition.

How does the E-2 proportionality test work?

The proportionality test weighs the qualifying funds you have invested against the total cost of the business. 9 FAM describes it as "a sort of inverted sliding scale": the lower the cost of the business, the higher the percentage of that cost your investment must represent; a very expensive business can qualify with a lower percentage. There are no bright line percentages.

The guidance gives two illustrations at the ends of the scale. An investment covering 100 percent of the cost of a business with a start-up cost of USD 100,000 would normally qualify. At the other extreme, an investment of USD 10 million in a USD 100 million business may be considered substantial because of the sheer size of the amount. Between those two poles, every case is assessed on its own facts.

How is the cost of the business calculated?

The base of the test is the cost of the business, and 9 FAM defines it differently for the two common situations:

• An established business you buy: the cost is generally its purchase price, which is normally the fair market value.
• A new business you create: the cost is the actual amount needed to establish the business to the point of being operational. This combines the assets you have already bought with cost estimates for the additional assets the business needs, supported by invoices, contracts, appraisals, accounting audits and similar records.

For a franchise, the same logic applies: there is no franchise-specific rule, and the total franchise cost, including the franchise fee, build-out, equipment and working capital, is the base for the test. Our E-2 franchise page and the article on buying a US franchise for the E-2 visa explain how this works in practice.

The guidance also notes that the cost of a business depends on its nature. A manufacturing plant may cost many millions, while a consulting firm or a small service business may cost relatively little. The cost alone does not decide anything: what matters is whether all the other E-2 requirements are met.

Is USD 100,000 enough for an E-2 visa?

It depends on the total cost of the business. USD 100,000 can be enough where it covers all, or almost all, of what a specific, well-planned business genuinely costs to buy or to make operational, and where that business can earn more than a minimal living. The same USD 100,000 is unlikely to be enough where the business really costs several times that amount and the gap would be filled with money that does not qualify.

Two practical consequences follow. First, a low-cost business does not lower the bar: under the inverted sliding scale, the smaller the business, the closer your investment must come to its full cost. Second, a small amount raises a separate question, the marginality test explained below. A business that only pays its owner a modest salary may fail that test even when the owner funded it entirely.

The right way to approach the number is therefore in reverse. Start with a credible business and its real cost, then check how much of that cost your own qualifying funds will cover, and finally test whether the business plan shows enough income or economic contribution. No adviser can promise that a given amount will be accepted, because the consular officer or USCIS assesses each case on its evidence.

What counts towards the E-2 investment, and what does not?

Not every euro, franc or dollar you spend counts as qualifying investment. 9 FAM 402.9-6(B) and (C) set out which funds and assets can be counted. The table summarises the guidance as we read it on 17 October 2026.

Do loans count towards the E-2 investment?

Some loans count and some do not, and the dividing line is who carries the risk. Under 9 FAM 402.9-6(B), mortgage debt or commercial loans secured by the assets of the enterprise cannot count, because you do not risk your own money: if the business itself is the collateral, the loan funds are not at risk, even where some personal assets are pledged as well.

By contrast, a loan collateralised by your own personal assets, such as a second mortgage on a home, or an unsecured loan on your personal signature, may be included, because you lose your own assets if the business fails. For a German, Austrian or Swiss business owner this can matter: borrowing against property you already own at home can fund a qualifying investment, while a US bank loan secured on the business you are buying does not add to it. Seller financing for an acquisition needs the same analysis, and it should be reviewed by the independent licensed US immigration attorney who prepares your case.

Does property or real estate count for the E-2 visa?

Property counts only when it is part of a real and active business. 9 FAM 402.9-6(C) excludes idle speculative investments held for potential appreciation in value, and names undeveloped land as an example. Holding land in the hope that it rises in value is an idle speculative investment and does not count; a house bought to live in serves personal purposes and is not normally treated as part of the investment, which your attorney confirms on the facts.

Real estate can still play a role in two ways. First, buildings, land and equipment that the operating business genuinely needs are part of the cost of that business, and appraisals of their market value are among the evidence the guidance lists. Second, as shown above, your existing home can serve as collateral for a personal loan that funds the investment. In both cases the investment is in the enterprise, not in the property itself.

Every figure in an E-2 case starts with the business plan, so the number that works for you can only be found case by case. Mirabello Consultancy reviews your capital, your business idea and your family situation, and coordinates the work with an independent licensed US immigration attorney who prepares and files the case. Book a free consultation to test your numbers before you commit any funds.

What is a marginal enterprise under the E-2 rules?

A marginal enterprise is one that does not have the present or future capacity to generate more than a minimal living for you and your family. Under 9 FAM 402.9-6(E), an E-2 business must be more than marginal. A business that cannot generate such income may still qualify if it has a present or future capacity to make a significant economic contribution, and the projected capacity should generally be realisable within five years from the date the business starts normal operations.

In practice, non-marginality is commonly shown through a credible five-year business plan, projected revenue and the hiring of employees. This is where the size of the investment and the quality of the business meet: a substantial investment in a business that only replaces the owner's salary may still be refused. The guidance also notes that unverified and unaudited financial statements based only on information supplied by the applicant are normally insufficient, so the evidence has to be independent and well documented.

Does the money have to be spent before the E-2 interview?

The money does not all have to be spent, but it must be irrevocably committed. 9 FAM 402.9-6(B) accepts an investor who is "in the process of investing" only where funds are committed through a real and irrevocable arrangement, and the investor is close to the start of actual business operations. Signing contracts that may be broken, or scouting for premises, is not enough.

Typical committed uses include a signed purchase agreement, paid build-out costs, equipment, inventory and the working capital that the business plan requires. Where the purchase of a business is conditional on the visa, holding the funds in escrow for release once the visa is issued can still be treated as an irrevocable commitment. Funds that remain freely available to you, whether in Germany, Austria, Switzerland or the US, do not count.

Where may the money come from?

The guidance accepts capital from savings, gifts, inheritance, contest winnings, loans collateralised by your own personal assets and other legitimate sources. The funds need not come from outside the United States, but they must not result from illicit activity, and you must demonstrate possession and control of them. Plan for a clear paper trail: bank statements, sale contracts for assets you sold, gift or inheritance documents, and the transfer records for every amount you move.

How does the E-2 investment compare with the green card routes?

The flexible E-2 amount comes with a clear limit: E-2 is a temporary, non-immigrant visa, not a green card. The initial stay is up to two years, with extensions in increments of up to two years and no limit on their number, as long as the business continues to qualify, according to the USCIS E-2 Treaty Investors page. It does not lead to permanent residence by itself.

Investors who want a green card from the outset look at the EB-5 Immigrant Investor programme, which requires USD 800,000 in a targeted employment area or infrastructure project, or USD 1,050,000 otherwise, and is open to all nationalities: see our EB-5 page. Owners of an established company abroad may also compare E-2 with the L-1A intracompany transferee visa, which has no investment test at all; our article on E-2 or L-1A for business owners sets out that choice. If you plan to stay in the long term, read E-2 visa to green card: your options, and for the tax side of a move, US taxes after moving from Germany, Switzerland or Austria. The USA immigration overview places every route side by side, and traders rather than investors should read our E-1 Treaty Trader page.