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The E-2 visa for German, Austrian and Swiss nationals

Portrait of Thomas Plan.By Thomas Plan, Attorney at Law (New York) · Last reviewed

The E-2 treaty-investor visa allows a national of a treaty country — including Germany, Austria and Switzerland — to enter the United States to develop and direct a qualifying business in which they have invested, or are actively investing, a substantial amount of capital. The enterprise must be real and operating or ready to begin operations imminently.

It is a nonimmigrant classification tied to the qualifying enterprise. E-2 status may be extended, and the visa may be renewed, for as long as the legal requirements continue to be met. There is no statutory minimum investment. Subject to further conditions, certain employees of a qualifying enterprise may also receive E-2 visas without investing themselves.

An E-2 visa is applied for through a U.S. embassy or consulate that accepts the applicant’s case, ordinarily in the applicant’s country of residence.12 Each consular post sets its own submission procedures.

A qualifying person already in the United States may instead ask USCIS to change or extend their status to E-2, but USCIS does not issue a visa for later travel.11

E-2 visa - Key Facts

Minimum investment
No fixed statutory amount — a proportionality test applies
E-2 visas issued worldwide, FY 2025
51,0478
Issued to DE / AT / CH nationals, FY 2025
3,271 / 220 / 2098
Annual cap or lottery
None2
Period of admission
Generally up to two years with each entry4
Maximum visa validity
Germany and Austria: five years · Switzerland: four years9

FY 2025 figures are preliminary totals calculated from the State Department’s monthly issuance tables. All figures include visas issued to derivative spouses and children.

The E-2 visa requirements

The Foreign Affairs Manual (‘FAM’) gives the consular officer a checklist (9 FAM 402.9-6(A)). The E-2 investor must provide evidence of the following:

  1. A treaty exists, and you are a national of the treaty country. Germany, Austria and Switzerland each have one; nationals of more than 80 treaty countries qualify.6 The U.S. enterprise must share that nationality. As a general rule, at least 50% of the enterprise must be owned by nationals of the treaty country.

    9 FAM 402.9-4(A)–(B) 22 CFR § 41.51(b)(6)

  2. You have invested, or are actively in the process of investing. The capital must be spent or irrevocably committed — ‘at risk’ — not merely held in an account under your control. The lawful source of the funds and their path into the investment must be documented.

    9 FAM 402.9-6(B)

  3. The enterprise is real and operating — or about to open. A real, active, for-profit undertaking that produces a good or a service. Not a paper company, not an idle investment, not undeveloped land.

    9 FAM 402.9-6(C)

  4. The investment is substantial. There is no minimum figure; there is a proportionality test: substantial relative to what this business costs, and enough to make it work.

    9 FAM 402.9-6(D)

  5. The enterprise is more than marginal. It must have the present or future capacity to generate more than enough income to provide a minimal living for you and your family, or otherwise make a significant economic contribution. In a new enterprise, the projected future capacity should generally be realizable within five years. Hiring U.S. workers is important evidence, but not the only way to satisfy the test.

    9 FAM 402.9-6(E)

  6. You are in a position to develop and direct the enterprise. This is normally shown through at least 50% ownership, but in an appropriate structure it may also be established through operational control. A managerial title without actual control, or a purely financial interest, is insufficient.

    INA § 101(a)(15)(E)(ii) 22 CFR § 41.51(b)(11) 9 FAM 402.9-4(B)(c), 402.9-6(F)

  7. You intend to depart when E-2 status ends. You need not maintain a foreign residence or plan to leave after a fixed period, but you must unequivocally intend to depart the United States when your E-2 status terminates.

    9 FAM 402.9-4(C)

What the law actually says

The statute — the Immigration and Nationality Act — § 101(a)(15)(E) defines who qualifies, a treaty national who comes to develop and direct an enterprise in which he has invested a substantial amount of capital; § 101(a)(45) leaves what "substantial" means to the Secretary of State. INA § 101(a)(15)(E), (a)(45)

Text · 8 U.S.C. § 1101(a)(15)(E)(ii)

“… solely to develop and direct the operations of an enterprise in which the alien has invested, or of an enterprise in which the alien is actively in the process of investing, a substantial amount of capital.”

German text of the 1954 Treaty of Friendship, Commerce and Navigation, Art. II(1)(b): „… um ein Unternehmen aufzubauen und zu betreiben, in dem sie beträchtliches Kapital angelegt haben oder tatsächlich anzulegen im Begriff stehen.“

Source 1 · Source 7 · The treaty with Switzerland has been in force since 1855, with Austria since 1931, with Germany since 1956.6

How those provisions are applied is explained in the State Department’s regulation, 22 CFR § 41.51, and the Foreign Affairs Manual, 9 FAM 402.9. They instruct consular officers on what counts as invested, real and operating, substantial and more than marginal — and on who qualifies as an executive, supervisor or essential employee. 22 CFR § 41.51(b) 9 FAM 402.9-6, -7

Each consular post adds its own filing rules: what must be submitted, how the evidence must be organized, the permitted length or file size, and the method of submission.13

The investor process, in five steps

  1. The business idea or purchase. Business model, location, financing.
  2. Structure and documents. Entity, accounts, contracts, due diligence, business plan, the source-of-funds chain.
  3. Filing. Forms, the cover letter and the evidentiary packet in your consulate's format, then submission.
  4. The interview and the consular decision. You appear at the U.S. consulate, present your case and answer the officer's questions. At or after the interview, the officer decides the application or requests further information.
  5. Entry and the first two years. With the visa, you may seek admission in E-2 status and are ordinarily admitted for up to two years at a time. 8 CFR § 214.2(e)(19) From the beginning, operate the business and maintain its records so that a later visa renewal or extension of status can show that the enterprise remains real, operating, non-marginal and under your direction — and can explain any material departure from the original plan.

The E-2 visa for employees

The E-2 is not limited to business owners. Executives, supervisors and employees with special qualifications essential to the U.S. operation may also receive E-2 visas. The employee need not invest in or own the enterprise but must share its treaty nationality.11

A qualifying enterprise may therefore send employees of that nationality to its U.S. operation — even if no owner moves to the United States. Frankfurt, Vienna and Bern have specific procedures for employees of companies that are already registered or qualified.13 22 CFR § 41.51(b)(2), (b)(12)–(13) 9 FAM 402.9-7(A)–(C)

The benefits of an E-2 visa

Renewable for as long as the requirements are met. There is no numerical limit on visa renewals or extensions of status.11 The investor and enterprise must continue to satisfy the E-2 requirements.

No annual lottery or cap. Unlike cap-subject H-1B cases and many immigrant-visa categories, the E-2 classification has no annual numerical limit or selection lottery.2 Each application is decided on its own merits.

No minimum investment. Unlike the EB-5,10 the E-2 visa has no fixed minimum investment. What matters is whether the investment is substantial in proportion to the cost of establishing or purchasing the business. A relatively small business may therefore qualify if the investment satisfies that proportionality test and all other requirements are met.

Available for start-ups. A new company with a credible plan, a documented investment and a founder who personally leads it may qualify on the same terms as an acquisition.

Processing times. Depending on the consulate, appointment availability and the individual case, consular processing may sometimes be completed within weeks, but it can also take longer. An employment-based green card application, by comparison, can take years to decide. For German and Austrian nationals, an issued E-2 visa may be valid for up to five years; for Swiss nationals, up to four years.9

Family. Your spouse and unmarried children under 21 may receive derivative E visas to accompany you, and they are not required to have the same nationality as you. 22 CFR § 41.51(b)(3) The spouse may work in the United States by virtue of the status;11 the children may attend school.

Freedom to travel. E-2 status does not impose the continuous-residence requirements associated with permanent residence. You may travel internationally and, while the visa remains valid, seek readmission in E-2 status.

A long-established category. The E-2 classification rests on federal law and on treaties between the United States and individual treaty countries.6 It has existed for decades and across successive administrations, although fees, procedures, visa validity periods and adjudicatory practices can change.

Inquiry by e-mail

Write to [email protected] — your matter in outline is enough; confidential details and documents only once an engagement exists. You will have a reply within one business day, in English or German, and it will tell you whether the E-2 is worth examining in your case and what we would need to see next.

Sources

13 references

All references last verified 13 September 2026. Primary sources only: statute, regulation, Foreign Affairs Manual, the consulates themselves, USCIS, State Department statistics.

  1. U.S. Code, 8 U.S.C. § 1101, “Definitions” — Immigration and Nationality Act § 101(a)(15)(E)(ii): “solely to develop and direct the operations of an enterprise in which the alien has invested, or of an enterprise in which the alien is actively in the process of investing, a substantial amount of capital”; § 101(a)(45): “substantial” means “such an amount of trade or capital as is established by the Secretary of State”. Office of the Law Revision Counsel. https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title8-section1101&num=0&edition=prelim — retrieved 13 September 2026.
  2. 8 U.S.C. § 1184, “Admission of nonimmigrants” — INA § 214(e)(2): employment authorisation for the spouse of an E nonimmigrant; INA § 214(g)(1): annual numerical limits for H-1B and H-2B. https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title8-section1184&num=0&edition=prelim — 8 U.S.C. § 1151, “Worldwide level of immigration” — INA § 201(d)(1)(A): 140,000 employment-based immigrant visas per fiscal year. https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title8-section1151&num=0&edition=prelim — retrieved 13 September 2026.
  3. 22 CFR § 41.51, “Treaty trader, treaty investor, or treaty alien in a specialty occupation” — (b)(1) classification, including intent to depart; (b)(2) employee of treaty investor; (b)(3) spouse and children of treaty investor; (b)(6) nationality of the treaty country; (b)(8) bona fide enterprise; (b)(11) solely to develop and direct; (b)(12) executive or supervisory character; (b)(13) special qualifications. Electronic Code of Federal Regulations, current as of 10 September 2026. https://www.ecfr.gov/current/title-22/chapter-I/subchapter-E/part-41/subpart-E/section-41.51 — retrieved 13 September 2026.
  4. 8 CFR § 214.2(e), “Treaty traders and investors” — (e)(19) period of admission, initial period of not more than 2 years; (e)(20) extensions of stay in increments of not more than 2 years; (e)(21) change of nonimmigrant status. Electronic Code of Federal Regulations. https://www.ecfr.gov/current/title-8/chapter-I/subchapter-B/part-214/section-214.2#p-214.2(e)) — retrieved 2 September 2026; text re-verified 13 September 2026 at https://www.law.cornell.edu/cfr/text/8/214.2
  5. U.S. Department of State, 9 FAM 402.9, “Treaty Traders, Investors, and Specialty Occupations – E Visas”, CT:VISA-2190, 17 February 2026 — 402.9-4(A) Qualifying Treaty or Equivalent (#M402_9_4_A); 402.9-4(B) Nationality (#M402_9_4_B); 402.9-4(C) Intent to Depart Upon Termination of Status (#M402_9_4_C); 402.9-6(A) Evaluating E-2 Treaty Investor Applications (#M402_9_6_A); 6(B) E-2 Applicant Must Have Invested or Be in Process of Investing (#M402_9_6_B); 6(C) Commercial Enterprise Must Be Real and Active (#M402_9_6_C); 6(D) Investment Must Be Substantial (#M402_9_6_D); 6(E) Enterprise Must Be More Than Marginal (#M402_9_6_E); 6(F) Applicant is in a Position to Develop and Direct the Enterprise (#M402_9_6_F); 402.9-7 Employee Entitled to E-1 or E-2 Visa (#M402_9_7), 7(A) Employer Qualifications, 7(B) Executive and Supervisory Employee Responsibility, 7(C) Essential Employees. https://fam.state.gov/fam/09FAM/09FAM040209.html — retrieved 13 September 2026.
  6. U.S. Department of State, Bureau of Consular Affairs, “Treaty Countries” — Germany: E-1 and E-2, effective 14 July 1956; Austria: E-1 and E-2, 27 May 1931; Switzerland: E-1 and E-2, 8 November 1855. https://travel.state.gov/content/travel/en/us-visas/visa-information-resources/fees/treaty.html — retrieved 13 September 2026.
  7. Gesetz zu dem Freundschafts-, Handels- und Schiffahrtsvertrag vom 29. Oktober 1954 zwischen der Bundesrepublik Deutschland und den Vereinigten Staaten von Amerika, of 7 May 1956, Bundesgesetzblatt 1956 Teil II S. 487 (treaty text annexed; Art. II(1)(b)); in force 14 July 1956; U.S. citation 7 UST 1839, TIAS 3593. https://dejure.org/BGBl/1956/BGBl._II_S._487 — retrieved 13 September 2026.
  8. U.S. Department of State, “Monthly Nonimmigrant Visa Issuance Statistics”, tables “NIV Issuances by Nationality and Visa Class”, October 2024 to September 2025 (fiscal year 2025) — “preliminary data which are subject to change”; E-2 figures include derivative spouses and children; annual totals on this page are E2Pathway’s sums of the twelve monthly tables. https://travel.state.gov/content/travel/en/legal/visa-law0/visa-statistics/nonimmigrant-visa-statistics/monthly-nonimmigrant-visa-issuances.html — retrieved 2 September 2026.
  9. U.S. Department of State, “U.S. Visa: Reciprocity and Civil Documents by Country” — Germany: E-2, multiple entries, 60 months, no reciprocity fee (https://travel.state.gov/content/travel/en/us-visas/Visa-Reciprocity-and-Civil-Documents-by-Country/Germany.html); Austria: E-2, multiple, 60 months, no fee (https://travel.state.gov/content/travel/en/us-visas/Visa-Reciprocity-and-Civil-Documents-by-Country/Austria.html); Switzerland: E-2, multiple, 48 months, US$125 (https://travel.state.gov/content/travel/en/us-visas/Visa-Reciprocity-and-Civil-Documents-by-Country/Switzerland.html) — all retrieved 13 September 2026.
  10. 8 U.S.C. § 1153(b)(5)(C), “Amount of capital required” — INA § 203(b)(5)(C): $1,050,000; $800,000 in a targeted employment area or infrastructure project; automatic CPI adjustment beginning 1 January 2027 and every five years thereafter. https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title8-section1153&num=0&edition=prelim — retrieved 13 September 2026.
  11. U.S. Citizenship and Immigration Services, “E-2 Treaty Investors”, last reviewed/updated 8 April 2025 — “maximum initial stay of two years”; “There is no limit to the number of extensions an E-2 nonimmigrant may be granted”; the employee must “be the same nationality of the principal alien employer”; dependants’ “nationalities need not be the same as the treaty investor or employee”; “Spouses of E-2 workers in valid E-2 or E-2S status are considered employment authorized incident to status”. https://www.uscis.gov/working-in-the-united-states/temporary-workers/e-2-treaty-investors — retrieved 13 September 2026.
  12. U.S. Department of State, “Treaty Trader & Treaty Investor and Australians in Specialty Occupations” — interview “generally, at the U.S. embassy or consulate in the country where you live”. https://travel.state.gov/content/travel/en/us-visas/employment/treaty-trader-investor-visa-e.html — retrieved 13 September 2026.
  13. U.S. Consulate General Frankfurt, “Treaty Traders and Treaty Investors Visas” (English) / “Handelstreibende und Investoren im Rahmen des Handelsabkommens” (German) — filing format, Firmenbrief, marginality threshold, “real existiert”, “startbereit”, shares held by permanent residents, Tab 3a (payroll), E visas for employees of registered companies. https://www.ustraveldocs.com/de/en/treaty-traders-and-treaty-investors-visa · https://www.ustraveldocs.com/de/de/treaty-traders-and-treaty-investors-visa — U.S. Embassy Vienna, “Visa für Handelstreibende und Investoren” (German; English version on the same site). https://www.ustraveldocs.com/at/de/treaty-traders-and-treaty-investors-visa — U.S. Embassy Bern, “Treaty Traders and Treaty Investors Visa” (English and German). https://www.ustraveldocs.com/ch/de/treaty-traders-and-treaty-investors-visa — all retrieved 29 August 2026.