Advantages of Investing in a Franchise to Get an E-2 Visa
Over the past decade, more than eight million individuals from around the world became naturalized U.S. citizens. In fact, 843,593 people became citizens in 2019 alone.
Citizenship in the United States comes with many benefits. It’s a prosperous country with countless opportunities for hardworking individuals.
But getting to the United States can be a challenge. There are multiple types of visas available, but not all of them apply to people of all countries. There are often many fees involved, and dozens of documents to fill out and sign.
However, investing in a franchise can help streamline and simplify the process.
Investing in a U.S.-based franchise is a flexible way to gain entry to the United States. People who invest in a franchise become eligible for an E-2 investor visa, as long as they meet certain qualifications. This gives them access to a wide range of benefits and opportunities, including the chance to acquire a green card and even citizenship down the road.
If you’re unsure whether an E-2 visa franchise is right for you, you’ve come to the right place. Here we’ll go over all the benefits of coming to the U.S. by investing in a franchise.
Work Legally for a U.S. Company You Own an Investment In
The most obvious advantage of starting a franchise business with an E-2 visa might be that you get to conduct business legally in the United States. Not only that, but you’ll have at least partial ownership of the business, which adds to your net worth, and could increase in value over time.
It’s important that you play a vital role in the business you’re coming into. You must be able to show proof that you will be developing and directing the E-2 visa franchise. You can accomplish this by demonstrating that you have at least 50% ownership of the enterprise, or that you have significant operational control through a management position.
Upon submitting your application, you will need to list all owners of the franchise you’ll be starting. The other owners will need to add their signatures to this list. This will show that you own a controlling interest in the business, and make you eligible for an E-2 visa.
Get Support With Starting up Your Franchise Business
If you’ve never started a business before, or if you aren’t familiar with U.S. business regulations, becoming an entrepreneur can be intimidating. If you were to start a company from scratch to obtain your E-2 visa, you would have to manage all paperwork and create a business plan on your own.
Fortunately, when you start a franchise business, you can expect significant help and support from the company that provides the franchise. Business planning, staff and management training, and even assistance with legal paperwork are often provided.
For example, when you start a bookkeeping franchise with BooXkeeping, you get direct assistance from the BooXkeeping development team. Although you still own the controlling interest in your business, this ensures you get the support and information you need to thrive.
We will even help you find bookkeepers to work with you, allowing you to focus on developing your business and taking care of your customers.
Visit our FAQ page to learn more about starting your own BooXkeeping franchise.
No Minimum Investment Amount Required
One of the greatest advantages of coming to the United States on an E-2 visa is the flexible terms. E-2 visa requirements are much less stringent than requirements for other visas. For one thing, the U.S. government does not specify a minimum investment amount to apply for an E-2 visa.
This means that individuals with limited funding have a better chance at qualifying for entry to the U.S. If you were to apply for an EB-5 visa, you would be required to make a minimum investment of $900,000 USD. Many intelligent and hardworking entrepreneurs around the world wouldn’t have access to this kind of funding.
The only similar requirement for an E-2 visa is that you must invest enough money to successfully launch a non-marginal business. This means the business you start needs to provide an essential service at a profit.
Returning to the BooXkeeping franchise opportunity, bookkeeping is a highly in-demand service that countless U.S. businesses rely upon. By starting a bookkeeping franchise, you’ll be providing an essential service, and you’ll get the support you need to do it profitably.
Your Spouse Can Work for Your Franchise With a Work Permit
If you have a spouse, they can come to the United States with you to help run your new business. Spouses of E-2 investors may apply for a temporary work permit or employment authorization document. This will allow your spouse to work for your company. If if they want to, they can even start their own business while you run your franchise.
If your spouse is approved for an employment authorization document, there are no restrictions on where they may work. In most cases, spouses of E-2 applicants are given the same period of stay as the E-2 visa holder. They may also file an extension of stay when they reach the end of this period.
Your Children Can Attend a School of Your Choice With an E-2 Dependent Visa
One of the most common reasons people come to the United States is to secure a better education for themselves or their children. When you move to the U.S. with an E-2 investor visa, your children get the benefit of attending any U.S. school of your choosing.
Although children under 21 do not qualify for a work visa, they may pursue higher education while you run your business. They can do this after they get approved for an E-2 dependent visa. Later, they may apply for a non-immigrant visa so they can work in the U.S. after pursuing a degree.
Most of the time, children must file an F-1 visa that only allows them to attend the specific school where it was approved. But with an E-2 dependent visa, they have a wider range of education options.
It’s worth pointing out that once your child turns 21, they may no longer stay in the U.S. with an E-2 dependent visa. At that point, they will need to apply for their own visa, which will let them continue school or begin work.
Stay in the United States Indefinitely
Investors in the U.S. on an E-2 visa maintain their visa status for two years following approval. But even when their visa expires, they may request an extension of stay as many times as they like without restriction. In effect, this means that someone with an E-2 visa may reside and conduct business in the U.S. indefinitely.
Because spouses and children are usually granted the same period of stay as the E-2 visa holders they came with, they will need to apply for an extension as well. Keep in mind that they must do this before the expiration of their E-2 dependent visa if they are to remain in the U.S.
There are a few requirements that must be met to extend an E-2 visa, but they are very basic and common-sense. As long as you were lawfully admitted into the United States in the first place, your non-immigrant visa status has remained valid, and you haven’t committed any crimes during your period, you may renew your E-2 visa an unlimited number of times.
Travel Freely in and Out of the United States With No Restrictions
Possibly the only thing better than being allowed indefinite stay in the United States is being allowed to leave and return freely as many times as you like. As long as your E-2 treaty visa remains valid, foreign investors and any dependents may come and go as they please. They are even allowed to live outside the U.S. if they wish, also for an indefinite amount of time.
This benefit makes E-2 visas much more flexible than other visas available. Most of the time, a visa holder will be required to live within the country for a specific period of time. Since E-2 visas have no such requirements, they are ideal for people with family or business to conduct in multiple countries.
Study at a U.S. College Without Compromising Your Business
Although you want a good education for your children if you have any, you may be interested in getting an advanced education for yourself. While investors on an E-2 visa generally aren’t focused on getting an education, you are permitted to study while living in the United States with an E-2 visa.
However, unlike those who come to the U.S. on an F-1 visa, you aren’t allowed to join a full-length college program on an E-2 visa. This is because, although studying is allowed, it must not interfere with the primary interest of your visa—namely, your new business franchise.
However, if you were interested in mastering new skills or earning a degree during your period in the U.S., this needn’t deter you. Many schools offer night programs and unstructured classes which allow you to learn new things at your own pace. You may even earn credit or a degree with an unstructured online program.
Enjoy a Fast Application Processing Time
Another reason the E-2 visa is so popular is that you can be approved for an E-2 much faster than you can usually be approved for other visas.
In recent years, the wait times for EB-5 visa approval have increased dramatically. This could discourage anyone who was hoping to start a new life in the United States. Fortunately, the processing time for an E-2 visa application can be as little as two weeks.
Although this varies depending on the workload in the U.S. Consulate, you can rest assured that entry to the U.S. should be no more than a few months away once you apply. As long as you have money to invest and you’re from an E-2 treaty country, it’s never been easier to come to the United States and start a franchise.
Apply for a Green Card While Investing in a Franchise
If you want to eventually become a U.S. citizen, having an E-2 visa won’t get you there on its own. Although an E-2 investor visa is a fast and flexible way to establish yourself in the U.S., it isn’t a direct path to citizenship.
However, once you and your business are established in the United States, you can convert your E-2 visa to an EB-5 or EB-1C visa, or you can apply for a green card. This is something you can do at any time after you’re already living in the U.S. It’s far more convenient than waiting to be approved while living in your home country.
Learn How You Can Launch Your Own E-2 Visa Franchise Today
From flexible eligibility criteria to simplified business preparation, these are just a few of the many benefits of investing in a franchise for an E-2 visa.
Just because you know all the advantages doesn’t mean you understand how to get started, however. Fortunately, BooXkeeping can help with that by setting you up with the best franchise for E-2 visas.
Get the opportunity to come to America and provide a valuable service to the people and businesses here. To find out if a BooXkeeping franchise is the right fit for you and to get started, contact us here.