If you want to come to the US to build or invest in a business, you have more options than most people realize — and more decisions to make between them. The right path depends on where you’re from, how much capital you have, whether you’ll run the business yourself, and whether you want this to lead to a green card eventually.
This Pathway walks through the main entrepreneur and investor visa categories, when each one fits, and the strategic trade-offs between them.
A note: If you’re worried about encountering US Immigration and Customs Enforcement (ICE) at any point in this process, our Know Your Rights guide covers what to do.
Start with four questions
1. Are you a citizen of a treaty country? The US has investor and trader treaties with about 80 countries that unlock the E-1 and E-2 visa categories. These include the UK, Germany, France, Japan, South Korea, Mexico, Canada, Australia, and many others. India, China, Russia, and Brazil are notably not on the list.
2. How much capital do you have? The options stratify by investment amount: E-2 typically needs $100K-500K+; EB-5 requires $800K (Targeted Employment Area) or $1,050,000 (elsewhere); self-petition options (O-1A, EB-1A, EB-2 NIW) don’t require capital at all.
3. Will you run the business, or is this a passive investment? E-2 requires you to develop and direct the enterprise. EB-5 can be structured as passive investment through a Regional Center. Self-petition options assume you’re actively building something.
4. Do you want a green card directly, or is a work visa fine? EB-5 and the self-petition green card categories lead directly to permanent residence. E-2 and L-1A are non-immigrant visas that can lead to green cards through different paths.
The main paths
Option 1: E-2 Treaty Investor (if from a treaty country)
Who it’s for: Citizens of treaty countries who want to invest in and run a US business.
How it works:
- Investment of a “substantial” amount (typically $100K-500K+ depending on the business cost)
- Investment must be in a real, operating US business (bona fide enterprise)
- You must develop and direct the enterprise (usually at least 50% ownership)
- No lottery, no cap, no fixed maximum stay — indefinite renewability
- Spouse gets automatic work authorization
Pros:
- Fast — weeks to months at the consulate
- No lottery
- Indefinite renewability as long as business operates
- Lower capital requirement than EB-5
- Spouse work authorization is strong
Cons:
- Treaty country citizenship required (not available to Indian, Chinese, Russian, Brazilian, and many other nationals)
- Non-immigrant intent required — complicates green card pursuit
- No direct green card path from E-2 itself
- Business must not be “marginal” (must produce more than just enough to support investor’s family)
See the E-2 guide.
Option 2: EB-5 Investor Green Card (for anyone with capital)
Who it’s for: Anyone with $800K+ to invest in a US business that creates 10 jobs — no treaty country requirement.
How it works:
- $800,000 investment in a Targeted Employment Area (TEA) — rural or high-unemployment areas
- $1,050,000 investment outside a TEA
- Business must create or preserve at least 10 full-time US jobs
- Can be direct investment (you run the business) or Regional Center (passive investment in a pre-vetted project)
- Capital must be truly “at risk” — guaranteed-return structures don’t qualify
- Lawful source of funds must be documented
Pros:
- Direct path to a green card from the start
- No employer sponsor, no lottery, no treaty country requirement
- Can be structured as passive investment (Regional Center route)
- No English language, education, or work experience requirement
Cons:
- Expensive — $800K+ investment plus $50K-150K+ in legal and administrative costs
- Long processing times (5-8 years typical, faster for rural TEA projects)
- Conditional green card for two years, then I-829 to remove conditions
- Project risk — direct investments can fail, Regional Center projects can lose designation
- Priority date backlogs for China, India, Vietnam (though less than historical levels after 2022 reforms)
See the EB-5 guide.
Option 3: L-1A New Office (if you have an existing foreign business)
Who it’s for: Entrepreneurs who have an existing business outside the US and want to open or expand a US branch.
How it works:
- You have worked for the foreign company for at least one year in the past three as an executive or manager
- Foreign company establishes a US branch, subsidiary, or affiliate
- You transfer to the US to establish and run the US operation
- Initial L-1A granted for one year; extensions available based on business growth
- After the US entity has operated for at least one year, you can file for EB-1C green card (no PERM required)
Pros:
- No capital requirement (though demonstrating sufficient funding to establish the US business is practical)
- Direct connection to EB-1C green card
- Dual intent allowed
- Spouse gets automatic L-2 work authorization
Cons:
- Requires a genuine existing foreign business, not a shell
- The foreign business must continue operating during your US stay
- One-year initial L-1A requires significant business growth justification for extensions
- Not for first-time entrepreneurs without existing foreign business operations
See the L-1 guide and EB-1C guide.
Option 4: O-1A Extraordinary Ability (if you have significant achievement)
Who it’s for: Entrepreneurs with demonstrable extraordinary ability — significant business success, major press coverage, awards, high compensation, membership in exclusive organizations, judging others’ work in the field.
How it works:
- No investment required
- No employer sponsor required (can be filed with an agent)
- Must meet at least 3 of 8 criteria plus pass a final merits determination
- Three-year initial validity, renewable indefinitely in three-year increments
- Dual intent allowed
Pros:
- No investment required
- Can be a stepping stone to EB-1A (similar standard)
- Indefinite renewability
- Doesn’t require giving up business control or structure
Cons:
- High evidentiary bar — not every successful entrepreneur qualifies
- Documentation-intensive application
- Non-immigrant (though EB-1A green card pathway is natural)
See the O-1 guide and EB-1A guide.
Option 5: EB-2 NIW (National Interest Waiver)
Who it’s for: Entrepreneurs with an advanced degree whose business work has broader national significance (not just one employer or one locale).
How it works:
- Self-petition — no employer, no PERM
- Advanced degree (master’s or higher) or exceptional ability required
- Must meet Dhanasar test: substantial merit and national importance; well-positioned to advance; benefits US to waive normal requirements
- Direct green card path
- Can be filed alongside other visa options
Pros:
- Self-petition (no employer sponsor needed)
- Direct green card path
- Dhanasar standard is more flexible than previous NIW standards — especially good for STEM entrepreneurs and researchers
- Can run in parallel with E-2, O-1, or other categories
Cons:
- Requires advanced degree or qualifying exceptional ability
- Must articulate how the entrepreneurial endeavor has national (not just local) significance
- Priority date backlogs for India and China apply
See the EB-2 guide.
Option 6: International Entrepreneur Parole
Who it’s for: Startup founders who have significant US investment or revenue in their venture.
How it works:
- Not a visa — a form of parole for up to 30 months (plus 30 more if criteria met)
- Requires significant qualified investment ($311,000+ from established US investors) OR substantial government awards/grants OR other evidence of substantial potential
- Must own at least 10% of the startup at the time of initial parole
- Program has been politically contested — availability varies
Pros:
- Can be fast when it works
- Fits a specific startup founder profile
- No single-country citizenship requirement
Cons:
- Not a formal visa — parole rather than status, more vulnerable to policy changes
- Specific capital/investor requirements
- Doesn’t lead directly to a green card — need another path for that
- Historically underused due to political uncertainty
Decision guide
If you’re from a treaty country and want to come to the US fast with moderate capital: Start with E-2. It’s the simplest, fastest option for most treaty-country entrepreneurs.
If you have $800K+ and want permanent residence directly: EB-5. Especially attractive if you’re not from a treaty country (since E-2 isn’t available).
If you already run a foreign company: L-1A new office → EB-1C. This connects a non-immigrant work visa to a green card without PERM, and it’s often the smoothest path for executives of international businesses.
If you have exceptional achievements: O-1A → EB-1A. Can be pursued without investment, without treaty country citizenship, without an employer sponsor.
If you have an advanced degree and your work has national significance: EB-2 NIW. Direct self-petition to a green card. Especially strong for STEM entrepreneurs.
For many entrepreneurs, parallel filing is the right strategy. EB-2 NIW and EB-1A are compatible. L-1A and EB-1C are complementary. O-1 and EB-1A can be pursued together. Don’t assume you have to pick just one.
Common decisions
E-2 vs EB-5
The most common entrepreneur-investor question. Rough guidance:
- E-2 wins if you’re from a treaty country, want to come to the US fast, have $100-500K to invest, and are OK not having a direct green card path.
- EB-5 wins if you want a direct green card, have the required capital ($800K+), and are OK with the longer timeline. Also the only option for non-treaty-country nationals.
Some entrepreneurs start on E-2 and later convert to EB-5 or another green card path.
Direct investment vs Regional Center (EB-5 specifically)
- Direct investment: You own and operate the business. Must directly create 10 jobs. More operational burden, more upside potential.
- Regional Center: You invest in a project managed by a USCIS-designated Regional Center (typically real estate or infrastructure). Jobs can be counted indirectly through economic impact modeling. Passive investment, usually easier for people whose primary goal is the green card rather than running a US business.
Most EB-5 investors use Regional Centers.
How much ownership do you need?
Depends on the visa:
- E-2: Typically at least 50% ownership or demonstrable operational control
- L-1A new office: You’re being transferred as an executive or manager; you don’t need to own the business personally, though you often do
- EB-5: You must be an investor and have some role in management (very limited for Regional Center cases)
- O-1, EB-1A, EB-2 NIW: Ownership isn’t a requirement, but your role in building the business is central to the application
Starting a brand-new business vs buying an existing one
Both can work. For E-2, buying an existing business can be strategically easier because the “bona fide” and “non-marginal” showings are backed by existing operations. For EB-5, direct investment typically means a new or expanding business where the 10 jobs can be directly created.
Non-immigrant intent and the green card question
Three of the entrepreneur visa options (E-2, O-1, L-1) are non-immigrant visas with different rules about pursuing a green card simultaneously:
- E-2: Non-immigrant intent required. Pursuing a green card can create problems at renewal.
- O-1: Dual intent explicitly allowed. Pursuing a green card is compatible with O-1 status.
- L-1A: Dual intent explicitly allowed. L-1A is specifically designed to lead into EB-1C.
If your long-term goal is permanent residence, the choice of initial visa matters. E-2 can work for decades as indefinite renewable status, but transitioning from E-2 to a green card requires careful planning. L-1A → EB-1C is the smoothest path for executives. O-1 → EB-1A is natural for people with extraordinary achievement.
Common mistakes
Assuming E-2 is available without checking treaty country list. Many entrepreneurs from India, China, Russia, Brazil, and other non-treaty countries pursue E-2 before learning it’s not available to them.
Underestimating the EB-5 process. The source of funds documentation, project due diligence, and multi-year processing are substantial undertakings. EB-5 is expensive and time-consuming; underestimating this leads to problems.
Picking an EB-5 Regional Center without diligence. Regional Center quality varies dramatically. Project failures affect both your investment and your green card. This is one place where expert evaluation really matters.
Not planning the green card step when choosing E-2. E-2 can be renewed indefinitely, but if the goal is a green card, that path requires separate strategy that often works best when planned up front.
Trying to use B-1 Business Visitor to run a US business. B-1 is for meetings, consultations, and short-term business activities — not for operating a US business. Doing operational work on B-1 is unauthorized work.
Thinking L-1 new office means you can bring any foreign business. The foreign company must have been operating with real substance, and the US branch must have a credible path to growth. New office L-1 is scrutinized carefully.
Ignoring parallel filing opportunities. Many entrepreneurs qualify for multiple categories. Filing in parallel hedges risk and sometimes results in multiple approvals.
Where to go from here
- If you’re a treaty country citizen with capital, start with the E-2 guide
- If you have $800K+ and want direct permanent residence, start with the EB-5 guide
- If you have an existing foreign business, start with the L-1 guide and EB-1C guide
- If you have significant achievement, see the O-1 guide, EB-1A guide, and EB-2 guide (for NIW)
- If your business is primarily cross-border trade rather than investment, see the E-1 guide
The entrepreneur and investor visa landscape in the US rewards planning. The right first visa choice shapes options for years afterward, and parallel filing where it’s available can prevent being locked into a single path. For strategic help with each category, the Beyond the Form Playbooks (coming soon) walk through evidence, documentation, and decision points in depth. Sign up below to be notified when they launch.