A frequent question from E2 planners: does the investment come before or after the visa? The direct answer is before. The E2 requires the funds to be committed and at risk in the business at the time of the application — and understanding this changes how you plan.

As always, our role in context: Unike handles the selection and analysis of the franchise; the legal structuring and the visa application stay with the immigration attorney we refer. Below, the overview of when and how the investment needs to happen.

The money needs to be committed — and at risk

The E2 doesn't accept an investment that exists only on paper. The funds need to be genuinely deployed in the business:

  • Existing business: normally the transaction must be completed for the full acquisition amount.
  • New business (like a franchise): the amount must be available and a good part already spent or committed — franchise agreement signed, fee paid, lease signed, furniture, equipment, or inventory purchased.

Even capital that will only be used after opening (like working capital) usually needs to be available in the company's US account before the application.

Why it works this way

It makes sense as a matter of logic: the US government won't grant a multi-year visa tied to a business that exists only as a promise. That's why the "at risk" concept is central — the funds need to be genuinely committed to the venture.

How to structure the company from abroad

The natural question: how do you set up a company in the US while living abroad? This is where the B1 business visitor visa comes in (or a visa-waiver/ESTA trip, for eligible nationalities), allowing trips to the US for structuring activities — signing franchise and lease agreements, meeting franchisors, attending training. One caution: these trips are for preparing the business, not operating it; the attorney advises exactly what's allowed at each stage.

Where the franchise choice makes a difference

Since you commit a significant amount before knowing the visa's outcome, the quality of the investment decision is decisive. A well-chosen franchise, with a tested model and franchisor support, sustains the case better and reduces uncertainty.

Beyond that, many franchises used to E2 candidates offer refund clauses — part (sometimes all) of the franchise fee can come back if the visa isn't approved. It's one of the points that mitigate financial risk, and one we evaluate when selecting the right franchise for your profile.