The Question That Comes Up in Every Consultation
In nearly every initial consultation about the E2 visa, the first substantive question is some version of: how much do I need to invest? It is a reasonable question, and the honest answer is more nuanced than most people expect.
There is no fixed minimum investment for the E2 visa. The regulations require a "substantial" investment, and USCIS evaluates substantiality through a proportionality test — comparing your investment against the total cost of establishing or acquiring the business. What counts as substantial for a $60,000 cleaning company is different from what counts as substantial for a $400,000 restaurant franchise.
Understanding how this test works in practice is essential for structuring your investment correctly from the start.
How the Proportionality Test Works
The proportionality test compares your investment to the total cost of the business. For lower-cost businesses, USCIS expects a high investment ratio — typically 75 to 100 percent of total cost. For more expensive businesses, a lower percentage may suffice if the absolute dollar amount is significant.
Here is how this plays out in practice for common E2 business types in Hamilton County, Indiana:
Service businesses (cleaning, consulting, home care): Total cost typically $60,000 to $120,000. Investment should be $50,000 to $100,000 — 75 to 100 percent of total cost. These businesses have lower absolute investment requirements, but the proportionality ratio must be high.
Education and tutoring centers: Total cost typically $80,000 to $150,000. Investment should be $65,000 to $130,000. Indiana licensing requirements add to the total cost and should be factored into the investment structure.
Wellness and fitness studios: Total cost typically $100,000 to $200,000. Investment should be $75,000 to $160,000. Build-out costs for fitness studios can be significant and should be documented carefully.
Restaurants and food service: Total cost typically $120,000 to $300,000. Investment should be $90,000 to $220,000. Restaurant investments are naturally well-documented — lease deposits, kitchen equipment, build-out, and initial inventory all create clear, traceable expenditures.
Franchise concepts: Total cost varies widely, from $150,000 to $500,000 or more. Investment should be 50 to 75 percent of total cost for larger franchises. The franchisor's franchise disclosure document provides a useful baseline for total cost estimation.
What "At Risk" Actually Means
The investment must be "at risk" — meaning it must be deployed into the business and subject to the normal risks of commercial enterprise. Money sitting in a business bank account does not satisfy this requirement. The funds need to be spent on something real: a lease deposit, equipment, renovation, inventory, or working capital that has been committed to operational expenses.
This is one of the most common sources of problems in E2 applications. An investor wires $150,000 to a business bank account and considers the investment made. USCIS disagrees. The investment is made when the money is deployed — when the lease is signed, the equipment is purchased, the build-out is completed.
The practical implication is that you need to deploy a significant portion of your investment before filing the visa application. This means committing to a business location, signing contracts, and spending money before you have the visa in hand. It is a real risk, and it is one that needs to be managed carefully with qualified legal guidance.
Source of Funds: Where the Money Comes From
USCIS requires a complete, documented trail from the original source of your investment capital to its deployment in the business. Every step of that journey needs documentation.
Acceptable sources include personal savings documented through bank statements, proceeds from the sale of a home or business, salary income documented through tax returns, gifts from family members with proper donor documentation, and investment returns from liquidated assets. Loans secured by personal assets — not by the business — can also qualify.
The documentation requirements have tightened in recent years. Bank transfers need to be traceable step by step. Gifted funds require documentation of how the donor originally earned the money. Any gap in the trail will trigger a Request for Evidence that adds months to the process.
The 2026 Context
Investment thresholds that were considered substantial five years ago are still generally applicable today — USCIS has not published updated minimum figures. But the documentation requirements have increased, and adjudicators are applying the proportionality test more rigorously than in previous years.
What this means practically is that applicants should err on the side of investing more rather than less, and should ensure that the investment is fully deployed and documented before filing. A well-capitalized application with clean documentation is far stronger than a minimally-invested application that technically meets the threshold.
Getting the Investment Right
The investment decision is one of the most consequential choices in the E2 visa process, and it is made before the visa application is filed. Getting it wrong — investing too little, failing to deploy the funds, or having an incomplete source of funds trail — can result in a denial that is difficult and expensive to recover from.
Before committing to any investment level, have a detailed conversation with immigration counsel about the specific business you are considering, the total cost structure, and what USCIS would view as substantial for that type of enterprise. That conversation is the most valuable investment you can make before the financial investment itself.
Our office is in Fishers, Indiana. We serve immigrant entrepreneurs throughout Hamilton County — Fishers, Carmel, Noblesville, Westfield, and Indianapolis. Call (317) 701-2768 or email askus@junlawfirm.com.