In this blog you will be able to discover everything you need to know if you want to process your E-2 visa as a Spaniard in 2024. All relevant information without filter.
Also, watch the YouTube video (above). There you will be able to see the interview with our Spanish clients who now live in Texas. This couple of entrepreneurs give us the best tips for all Spaniards looking to apply for the E-2 investor visa and settle in the USA. They tell us all their trajectory and challenges that one encounters with this type of procedure. Enjoy!
Thank you very much Fernando and Almudena for all the great information you provide to the Spanish audience!
First we are going to start by defining what the E2 visa is and then we will go into detail some important things you should know.
What is an E-2 Visa
The E-2 visa is a type of U.S. non-immigrant visa that allows Spanish investors, managers, or essential employees along with their families (“family” is defined as a spouse and children under the age of 21) to run a business and live in the United States.
What this means is that if you invest in your own business or work in a Spanish-owned business and are Spanish, you can legally live in the United States with your family. This E-2 visa also allows the spouse to work legally in the USA. In the following sections we will clarify all the details of the E-2 visa for Spaniards.
This visa is a visa based on trade treaties with the United States and Spain, so it is important that applicants, whether investors and/or employees, have Spanish nationality. It does not matter if they live in another country or have another nationality apart from Spanish.
There are many details that are essential to know before venturing into an E-2 visa for Spaniards. For example:
- How much do you have to invest for an E-2 visa in USA for a Spaniard to qualify?
- What requirements do I need to meet to qualify for an E-2 visa if I am Spanish?
- What is considered a “business” under U.S. law?
- How long does the E-2 visa process take?
- What are the benefits of the E-2 investor visa in the U.S. for Spaniards?
- How is the process? Visa or investment comes first?
In this article we are going to answer all these questions for you.
If you have any doubts or questions, do not hesitate to contact us or if you want to ask us a question in the video of the interview, we will gladly answer them.
E-2 Investor Visa Requirements for Spaniards
- The investment of the business must be a “substantial” amount
What a substantial investment means is that the investment has to be sufficient for the business to be already operating or about to operate. Depending on the line of business or the type of business, this amount can vary. There is no amount defined by law, that is, there is no minimum or maximum, but over time it has been seen that those who apply for an amount greater than 100,000 USD have been favorable to such an application.
- The business must be active for the E-2 visa applicant
The business must be a business in order to operate or direct the business, i.e., whoever applies has to prove that the business is an active business. Whether the investor, manager, or essential employee must have active responsibilities in the business. Speculative investments such as Bitcoin, stock market, or any other passive investment will not qualify for an E-2 visa. Real estate investments are not usually good investments for an E-2 visa, as real estate is usually considered passive investments.
- The funds of the investment must have a lawful and verifiable origin
You have to prove that the origin of the money came from legal places. The most common receipts are usually tax returns, real estate purchases, inheritances, and donation letters. If the source of your money is none of these, there is no problem. As long as the origin of the money is licit, you should not have any problem. Usually, for this visa you don’t have to go through a very complex history. They usually only ask for the origin of the funds, movement of the funds, and how that money entered the USA.
- The Spanish owners of the company must have at least 50% of the shares.
This is very important to remember. At a minimum, the owners must be 50% of Spanish origin. It does not necessarily have to be the same owner, but all the owners must add up to more than 50% of Spanish nationality.
For example, in a company where an American owns 51% and a Spaniard owns 49%, this entity does not apply for an E-2 visa for Spaniards. Now, if we reverse the example and 51% of the company is owned by a Spaniard, then the investor and/or his employees (manager or essential employee) could apply for the E-2 visa in the USA. In reality, if the company is 100% Spanish, that is even better and simpler. For this visa, the money of the Spaniards is also at risk. We will explain this principle later.
- The business must produce money not only for the investor to live well, but also to be able to employ people from the United States.
Basically, for this visa it is important to hire Americans and stimulate the American economy. There is no minimum number of North American employees you need, but the more you employ the better. Many attorneys will recommend a minimum of 2-3 employees in the first year of business. If you hire more, it’s better.
- The company must be for-profit; Don’t forget to pay your taxes
The purpose of the company must be to produce money and have expenses. The company has to be real, with “real” expenses that a common business would have. For example, expenses such as renting commercial real estate, buying and selling a franchise, payments to suppliers, payroll, purchasing inventory, etc.
Basically, no nonprofits or shell companies.
One way to lose this visa is by not paying your taxes, it sounds obvious, but some people think they can be passed over. In this instance it is important to have the help of an accountant who has experience working with Spaniards.
It is essential to keep in mind that when you renew your E-2 visa for Spaniards, you will be asked for your federal and/or state tax returns (not all states have state income or payroll taxes) for the last 3 years at least.
What is the process like for an E-2 visa if I am Spanish?
First of all, you need to consult with an immigration attorney to determine whether or not you qualify for an E-2 visa. Once the lawyer tells you that if you have a good case, you have to find out what type of businessyou are going to undertake/invest in.
Our firm has precisely that function, we help foreigners understand the business landscape in the USA and we advise on the different investment opportunities that exist throughout the United States. This is a fairly complex exploration process that we help you navigate.
DISCLAIMER: It’s extremely important that you discuss all of this with an immigration attorney first. If they don’t have a trusted lawyer we can recommend a law firm that knows how to work with E-2 visas for Spaniards.
It is crucial that you DO NOT take this guide as legal advice, as every case is very different. This guide has a function so that the Spanish audience has a general idea.
Here is a guide on how this process is carried out.
How do I apply for the E-2 visa as a Spaniard?
- Consult with an immigration lawyer about your case, here you can choose to hire the lawyer you consult with; however, it is not yet necessary at this stage.
We recommend that you talk to at least 2-3 lawyers to see which one you like best and see if they all tell you more or less the same thing. Many immigration attorneys are not experts on the E-2 issue. In case you do not have a lawyer, we can recommend one. Many immigration attorneys do not charge for the first consultation, some do. Try to respect the lawyers’ time, as they will probably respect yours.
- Consult with a business advisor who works with foreigners. You have to see if your business idea is viable (economically). You should see what investment options there are in case you don’t know what to invest in. You must understand how to drive the business.
Normally, the immigration lawyer will not know how to answer these questions or doubts. Remember, immigration attorneys are experts in immigration law, not business.
Contact us if you need help driving the business or are looking for advice on acquiring a franchise in the United States.
- Since you understand the panorama and you have been advised on the business and the immigration aspect, you have to make the idea a reality. Here you have to incorporate the company, usually it will be an LLC (Limited Liability Company). They are easy to set up and fast, it is worth mentioning that this depends a little on the state.
If one of the partners has a social security number, your company could be ready in less than 2 weeks. In case they are pure foreigners in the LLC it can take between 4-6 weeks for your LLC to be ready. We can also help you set up your company.
- Let’s say you already have your LLC created. Now you have to open the company’s bank account and capitalize the company’s bank account with what you are going to invest.
Here it is important to know how to move money, both from your country to the USA, and within the USA. There are right ways to do it. If you already had the money in the USA before and it is verifiable, there is no problem. It doesn’t necessarily have to come from your country, but it does have to be YOUR investment that is at risk.
- Now that the account is compounded, it’s time to invest. This is where you have to make the necessary expenses for the business to be operating or about to operate. In this step, you should already have your immigration attorney hired to guide you through the detailed step-by-step.
- In this step you must create the business plan for your visa application since you have an idea of the business, we can help you make your business plan for the E-2 visa.
The business plan for the E-2 visa has certain unique specifications and every E-2 visa application must come with a business plan. If you do not submit a business plan with your E-2 visa application, your application will probably be rejected, at least you are acquiring an existing business and the business has some history. It is advisable to send a business plan, in case the current figures are not ideal.
- Since the business is operating or is about to operate, you already have your complete business plan, and you have all the documentation that the attorney asked for, it is time for the immigration attorney to prepare the E-2 visa application for Spaniards. Usually, it should take no more than 2-5 weeks for an attorney to prepare your visa application. If it takes longer than this to have ALL the information, it’s probably time to look for a new attorney.
- Lawyer sends application and wait for the steps to follow and/or interview date at the American consulate in Madrid.
- Go to the interview with all the necessary documentation. We, and surely your lawyer, prepare you for the interview with a consular officer. We are going to give you all the tips and details of this interview, as well as understand your business plan well.
- Once you were approved, you will be asked to keep your Spanish passport for a few days.
- In less than 2 weeks they will send you your passport with your E-2 visa printed in the passport.
- Consult with your immigration attorney before entering the U.S. with your new visa. You are going to fly to the USA and at the port of entry they will ask for a new permit. Here you should be given an E-2 permit with a duration of 5 years. Every time you enter you should be given a new 2-year permit. However, the duration of your permit is at the discretion of the port of entry officer. Remember to be respectful of immigration officials even if they are sometimes not.
You are already in the USA, time to process your social security number and/or driver’s license. Here is a guide to process your social security number while in the USA.
I have already submitted my E-2 visa application, how long does it take for me to be granted a consular interview?
The reality is that this answer is always changing and it is not that there is a limit to how long this process can take. A lot depends on how many paperwork they have in the funnel. Times can vary due to many factors that not even the immigration lawyer can control or manage. Be patient with the lawyer, remember that he is on the same team and wants to have the visa approved.
At this time, the management of an E-2 visa for Spaniards can take between 3 to 8 months to have the interview with the American embassy in Madrid, that is, once the E-2 visa file has been submitted it will take between 3-8 months to have this interview. After you have the interview at the American embassy, if you obtained the approval, it does not usually take much longer, we will be able to calculate 2 to 4 weeks for the E-2 visa to finally arrive.
In some cases the immigration officer may request more documentation and this can lengthen your process a little longer. That’s why it’s important to submit a strong case from the start, to avoid these setbacks. Having a good immigration attorney and business advisor by your side helps avoid these setbacks.
How long is the E-2 investor visa for Spaniards? What happens when the E-2 visa for Spaniards expires? Does the permit to live last the same 5 years?
At this time, in 2023, the E-2 visa is being granted for a maximum of 5 years for Spaniards (this may change over time, but in general terms it does not change very frequently).
In general, they will give you the maximum time, which is 5 years. At the end of the day, the immigration officer has the last word, so it is important to be respectful and give a good presence at the time of the interview. It is relevant to mention that the duration of the E-2 visa is based on your nationality; however, the longest duration for any nationality is 5 years.
Another thing to understand is that, even if you have the E-2 investor visa as a Spaniard with a duration of 5 years, you are usually granted a permit for 2 years at a time. This means that you will have to travel outside the United States before those 2 years or you can also apply for an extension of status. Ask your immigration attorney to explain all of this if this sentence doesn’t make much sense to you.
Before your E-2 permit as a Spaniard expires, most Spaniards travel outside the U.S. and when they enter back they are usually given a new permit. NOTE, that’s why we use the word “usually” because at the end of the day, you’re in the hands of CBP (Customs & Border Protection) officers and their decision of how long they want to grant you your permit. This is also important to discuss with your immigration attorney.
As long as the business is operating, your E-2 visa can be renewed indefinitely. So there is no limit to how many times you can renew the E-2 investor visa.
Can the E-2 visa for Spaniards be renewed?
As long as your business is operating, you can renew your E-2 visa. It is advisable to speak with your immigration attorney 1 year before your investor visa expires to see how long the renewals are taking and detail what documentation you will need for the renewal of the E-2 investor visa.
Usually, renewals are simpler and in some cases you do not need to go to an interview like the first time you apply to apply for the E-2 investor visa. These rules are always changing, so consult with your immigration attorney. Sometimes interviews are random.
How many times can I renew the E-2 visa as a Spaniard?
You can renew it as many times as you want, as long as your business is operating and you are stimulating the American economy. The more jobs you create in your business, the better it will always be for your investor visa.
Where is the E-2 visa for Spaniards processed?
Currently, the E-2 visa for Spaniards is being processed at the American embassy in Madrid.
Can I apply for my E-2 visa as a Spaniard while in the United States?
Visas can only be issued at consulates and embassies. However, if you enter with a visa you can make a change of status, which is a very different procedure from the previously mentioned. VERY IMPORTANT: If you enter with the VWP or the ESTA program, changing status is not an option.
Who qualifies for the E-2 visa as a Spaniard?
The people who can apply are the E-2 visa holder, the spouse if any, and unmarried children under 21 years of age. Even if your child is 18 years old, but married, they will count as another household and will not be able to apply for the E-2 visa with you.
The investor visa holder can be either an investor, a manager, or an essential employee who has Spanish nationality. Here it is important that E-2 visa holders have Spanish nationality.
Usually, for a manager or an essential employee, a letter of offer of employment explaining their roles, experience, and why a U.S. company needs them will have to be attached along with the application for the E-2 investor visa. In the case of the investor, the letter of job offer is not required, since he is the owner of the company. Again, we emphasize that this is not legal advice and you have to consult these issues with an immigration lawyer in the United States.
What benefits do I have as a Spaniard by having the E-2 visa?
The benefits of an E-2 Visa are primarily working in your business and living legally with your spouse and children under the age of 21. In turn, this allows you to apply for a social security number, which also opens the doors to mortgages and the entry of the American credit system.
Your children will be able to attend the American educational system, both private and public. The E-2 visa also allows you to apply for a driver’s license in the state in which you are living.
Another very good benefit of the E-2 visa is that the spouse has access to work either in the E-2 visa company or in any other company/place. This does not apply to the E-2 visa holder, because he or she can only work in the company with which he or she applied for the investor visa.
How much do I have to invest to qualify for an E-2 visa as a Spaniard?
Experts recommend more than $120,000 USD as a minimum.
The law says that you have to invest a “substantial” amount. This means that there is no minimum or maximum amount. A substantial amount can be whatever the business needs to get started and be self-sustaining, so this is going to depend on business by business.
This is where many experts on the subject have their “magic numbers”. Your immigration attorney will explain to you how much is the minimum they are comfortable working with. Some lawyers will say from +$75,000 and up. But the vast majority of immigration lawyers will tell you that you will need $100,000 USD or more and some $150,000 or more.
What businesses apply for the E-2 visa as a Spaniard?
It can be any business that requires the applicant to be in the United States and for the business to produce jobs. These are considered active businesses. Passive investments or investments in real estate are not considered good business for an E-2 visa. Usually, the best businesses for an E-2 investor visa are those businesses tied to services.
Services can be construction, remodeling, cleaning, restaurant, home services such as air conditioners or plumbing, elder care, professional services, etc.
At Interlink FBC we are specifically dedicated to that, so that our clients understand what business opportunities exist in the USA, what business is best for them based on their level of investment, and how much an investor could earn in these types of companies.
What is the best business model for an E-2 visa?
Franchises
What we have seen is that franchises are usually the best business model for those who do not have experience starting a business in the United States, since franchising has a proven business model and franchises usually have a high success rate in the United States.
It is important to mention that not all franchises are good and not all franchises are good for the E-2 investor visa. This is why it is crucial to be advised by experts who know the subject.
Each franchise has different roles, responsibilities, and business models. The beautiful thing about franchising is that it is regulated at the federal level and in some states at the state level. This gives greater degrees of security and predictability when investing, especially as a foreigner. The good thing about franchises is that many of them automatically meet all the requirements of the E-2 visa.
Business Transfer for Spanish E-2 Visa
Another investment model that is often used is the acquisition of an existing business or also called a business transfer. This can be high risk, since this type of procurement is not usually regulated by any government entity, although some states are a little more regulated (depending on the state).
We have seen that when the business is relatively cheap, there is a high probability that the reason why it is being transferred is difficult to know, and if the business works very well, it will be transferred at a really high value, because it will include the customer portfolio, real estate, workers already hired, among several other issues.
We always recommend that you seek advice from professionals and carry out your due diligence.
Starting a business from scratch for Spaniards E-2 visa
The third investment model that can be used is to start a business from scratch. This format of the three that exist for a Mexican to apply for their E-2 visa is usually very high risk and is not recommended, unless they already have business experience in the United States.
It is important to understand that the way of doing business in the United States is radically different than in Spain. This is a mistake that many Spaniards make when starting a business to apply for an E-2 Visa. We have seen successful entrepreneurs in Spain fail in the US because they wanted to replicate their business model in the United States. It is crucial to seek advice from a business consultant to help them clearly understand how to start a business in the United States from scratch.
As a Spaniard, who can help me with my E-2 visa?
Usually, for this type of project you need strategic allies to help you shape your project. The basic basket for this type of project usually consists of an immigration lawyer, an American accountant, a real estate advisor, and different advisors or business consultants.
Generally, the immigration attorney will be the one who will prepare your E-2 visa application and see if you have a good case for the E-2 visa. On the other hand, the accountant will help you with the accounting of the business, the real estate advisor will help you find the best location for your commercial premises or office. Finally, the business advisor will assist you in landing the business and creating the business plan.
This type of investment and emigration projects are complex projects, which is why a multidisciplinary team is required to be carried out successfully. Each expert will take you by the hand in their area of expertise. The most important thing is to surround yourself with experts who have unique and valuable knowledge working with Spanish foreigners. Not all immigration attorneys know about the E-2 visa for Spaniards and not all accountants have the knowledge of the tax side for a foreigner.
Do Spaniards need a business plan to apply for an E-2 visa?
The short answer is YES.
Normally, the E-2 investor visa application for Spaniards is accompanied by a business plan specially made for E-2 visas. Here it is important to highlight the importance of having a consulting firm specialized in making this type of business plan.
Unless the business has been operating for many years and you have tax returns for the last 3 years with good numbers, your immigration attorney may tell you that it is not necessary to use a business plan, but this is not usually that common.
How risky is the E-2 visa process for Spaniards?
If you are well advised, it is usually very easy to process, as long as you meet all the previously mentioned requirements and of course, you do not have legal or immigration problems in the United States. In general, the E-2 visa has between 87% and 92% approval globally, according to the data provided by government entities. That 8% – 13% denial is likely because they weren’t well advised or didn’t meet the basic requirements of the E-2 visa.
Apply for your E-2 visa as a Spaniard
The most important thing is always to be well advised.
Don’t follow the advice of your “buddy” or “cousin.” Very often we receive clients telling us that “my compadre told me that with $50,000 I could apply” or “the investor visa you have to invest $500,000”, as there are many such stories. The reality is that there may be some kind of truth in those comments or anecdotes; however, many of these stories are not 100% true or no longer apply today. In this world of E-2 visas, it is always constantly changing and what was true last year may not be real today.
As a consultancy, we focus a lot on the entire business aspect. Our specialty is related to how to land your investment/business in the United States. If you have any questions or concerns, please do not hesitate to contact us at our offices in Texas.
This content is written to be a general information guide. Not to be used or construed as legal advice. As we repeat several times in this article, CONSULT WITH AN IMMIGRATION ATTORNEY SPECIALIZED IN WORKING WITH SPANISH AND E-2 VISAS.
If you have questions or concerns, please do not hesitate to write to us. If you liked this type of information, follow us on our social networks
Thank you!
