Opening a company in the United States does not automatically give you the right to live and work there. If you want to run your American business in person, the visa question must be tackled straight away — and for many Italian entrepreneurs the main route is the E-2 visa, reserved for investors from countries linked to the USA by a specific treaty. Italy is one of those countries.
This is part of the journey described in our full guide: Opening a Company in the USA →
What the E-2 visa is
The E-2 is a “treaty investor” visa: it lets a national of a treaty country enter the USA to develop and direct a business in which they have invested substantial capital. It is not an “employee” visa nor a permanent residence permit: it is designed for those who bring a real investment and actively manage it.
The main requirements
- Italian nationality (or of another treaty country): the basic prerequisite.
- Substantial investment: real capital, already irreversibly committed to the business. There is no fixed minimum threshold: the amount must be proportionate to the cost of the business started or acquired.
- A real, operating enterprise: an active business producing goods or services, not a passive investment or a waiting account.
- Capital at risk: the funds must be genuinely exposed to business risk, and their lawful source must be documented.
- Control and direction: the investor must own at least 50% of the business, or otherwise control it, and develop/direct the activity.
- Not marginal: the enterprise must have the capacity to generate more than a minimal living for the investor (creating wealth or jobs).
What “substantial investment” means
It’s the most frequent question — and the answer frustrates anyone looking for a single number: there is no statutory minimum. What matters is the proportion between what you invest and what it genuinely takes to start that type of business. A small service business may qualify with modest figures; a capital-intensive activity will require far more. Investing “too little” relative to the project is one of the most common causes of refusal.
Duration, renewal and the green card
The E-2 is a non-immigrant visa: it can be renewed as long as the business keeps meeting the requirements, potentially for a long time, but it does not by itself lead to a green card. Those aiming at permanent residence must consider different paths. Visa validity and periods of stay depend on rules that can change: they should be verified case by case at the time of application.
What about the family?
The spouse and minor children can generally accompany the investor as dependents, and the spouse is normally allowed to work in the USA. These aspects weigh heavily on the decision to relocate and should be planned alongside the main visa.
E-2, L-1 or other routes?
The E-2 is not the only path. Those who already have a company in Italy and want to transfer a manager can look at the L-1 visa (intra-company transfer); there are also routes for “treaty traders” (E-1) and for more structured investors. The choice depends on the size of the operation and long-term goals — and is closely tied to how you set up the company.
The most common mistakes
- Investing too little relative to the project, or leaving funds “on standby” rather than committed.
- Relying on a passive investment (e.g. rental real estate only) that doesn’t amount to an active enterprise.
- Failing to document the lawful source of funds.
- Designing the visa separately from the corporate structure, discovering too late that the two don’t match.
- Treating the E-2 as a green card: they are different tools with different logic.
How PFL helps
The delicate point of the E-2 is that the corporate structure and the visa requirements must be designed together: the form of the investment directly affects eligibility. With our dual Italy-US experience and our network of collaborators in the United States, we support you in a coordinated way, from setting up the company to preparing the application.
Considering a US investment with an E-2 visa?
In a first consultation we check whether your project meets the requirements and how to align the company and the application.
Or write to us at p.franzo@paolofranzo.com · +39 02 5519 2653
This article is for general information purposes only and does not constitute legal advice or immigration counsel. Requirements and procedures change over time: every case should be assessed with the assistance of a professional.
