The E-2 treaty investor visa lets a foreign national live in the United States to run a business they have invested in, but only if they are a national of a country with a qualifying treaty. The State Department's Foreign Affairs Manual (FAM) says E-1 and E-2 visas "are for citizens of countries with which the United States maintains treaties of commerce and navigation" (9 FAM 402.9-2), and India is not on the FAM's list of treaty countries (9 FAM 402.9, treaty country table).
As of October 23, 2026, that leaves Indian founders two questions: whether a second citizenship can open the E-2, and whether another visa, usually the O-1, fits better. This guide covers both.
- India is not on the State Department's list of E-1 or E-2 treaty countries in 9 FAM 402.9.
- An E-2 investor must be a national of a treaty country, and at least 50 percent of the US business must be owned by treaty nationals.
- Since December 23, 2022, a person who acquired treaty nationality through a financial investment must have been domiciled in that country for at least 3 continuous years before a first E visa.
- Grenada has had an E-2 treaty with the US since March 3, 1989.
- There is no fixed minimum E-2 investment; the State Department uses a proportionality test against the cost of the business.
- E-2 investors are admitted for up to two years at a time, with no limit on extensions, and E-2 spouses are work authorized incident to status.
- E-2 applicants must intend to depart when E status ends; E-2 does not lead to a green card on its own.
Why can't Indian citizens get an E-2 visa?
Because the statute ties the E visa to treaty nationality. The Immigration and Nationality Act defines an E nonimmigrant as someone entitled to enter "under and in pursuance of the provisions of a treaty of commerce and navigation between the United States and the foreign state of which the alien is a national" (8 U.S.C. 1101(a)(15)(E)). The FAM's treaty table lists the countries and their E-1 and E-2 start dates; it includes neighbors such as Pakistan, Bangladesh and Sri Lanka, but not India (9 FAM 402.9).
The business must carry the nationality too. In treaty investor cases, nationals of the treaty country must own "at least 50 percent of an enterprise," and an E-2 company can generally have only one qualifying nationality (9 FAM 402.9-6(F) and 402.9-4). An Indian co-founder holding 60 percent of a company would keep it from qualifying even if a minority partner holds a treaty passport.
Can a second citizenship get an Indian founder an E-2?
Yes in principle, with a major limit added in 2022. A dual national who holds a treaty country's nationality can apply on that nationality, and the FAM says the owner and all E employees "must possess the nationality of the single E visa qualifying country and hold themselves as nationals of that country for all E visa purposes involving that company" (9 FAM 402.9-4).
Citizenship bought through an investment program now comes with a residence requirement. Public Law 117-263, enacted December 23, 2022, amended the E definition so that a person "who acquired the relevant nationality through a financial investment and who has not previously been granted status under this subparagraph" qualifies only through a country "in which the alien has been domiciled for a continuous period of not less than 3 years at any point before applying" (8 U.S.C. 1101(a)(15)(E) and amendment note, Pub. L. 117-263, § 5902(b)).
Grenada is the example most often raised. It has had an E-2 treaty with the United States since March 3, 1989 (9 FAM 402.9, treaty country table). Under the amended statute, a Grenada passport acquired through investment works only if you actually lived in Grenada for three continuous years first, unless you already held E status before. Get your attorney's view before paying any citizenship-by-investment program on the strength of an E-2 promise.
| Path | Works for E-2? | Key condition |
|---|---|---|
| Indian passport only | No | India has no E-2 treaty |
| Second nationality by birth or descent from a treaty country | Possibly | Must use that nationality for the company and all E employees |
| Citizenship by investment in a treaty country | Only after 3 years' domicile | Applies unless you previously held E status |
What does an E-2 investment have to look like?
No fixed dollar amount, but real risk. The FAM's proportionality test weighs "the amount of qualifying funds invested against the cost of the business," and the lower the cost of the business, the higher the percentage that must be invested; "there are no bright line percentages" (9 FAM 402.9-6(D)).
The money must be at risk and committed. Funds that are not "subject to partial or total loss if business fortunes reverse" are not an investment, and loans secured by the business's own assets do not count (9 FAM 402.9-6(B)). The enterprise must also be real and operating and "more than a marginal one solely for earning a living," and the investor must be in a position to "develop and direct" it (9 FAM 402.9-6(A)).
Intent matters, but less than for most visas. An E applicant does not need a foreign residence they will not abandon, and "an unequivocal intent to depart the United States upon termination of E status is normally sufficient" (9 FAM 402.9-4(C)). E-2 does not by itself lead to a green card; our guide to the TN and E-2 to green card path covers what investors usually do next.
How long does an E-2 last, and can a spouse work?
E-2 status is renewable without a cap. Treaty investors may be admitted for an initial period of not more than two years (8 CFR 214.2(e)(19), 2025 edition), extensions come in increments of up to two years, and "there is no limit to the number of extensions an E-2 nonimmigrant may be granted" (USCIS, E-2 Treaty Investors, updated 08/20/2026).
Spouses can work: USCIS says "spouses of E-2 workers in valid E-2 or E-2S status are considered employment authorized incident to status" (USCIS, E-2 Treaty Investors). The State Department's visa application fee for E visas is $315 (22 CFR 22.1, item 21(c), 2025 edition).
Is the O-1 a better fit for an Indian founder?
For most Indian-only citizens, it is the realistic alternative. The O-1 has no nationality or investment test; it turns on your record of extraordinary ability. Since January 2025, the USCIS Policy Manual has recognized that a separate legal entity owned by the founder, such as a corporation or LLC, may file the O-1 petition (USCIS Policy Manual, Vol. 2, Part M, Ch. 3).
| E-2 | O-1 | |
|---|---|---|
| Nationality | Treaty country only | Any |
| Investment | Substantial, at risk | None required |
| Main test | The investment and business | Your record of acclaim |
| Self-owned company as sponsor | Yes, it is the treaty enterprise | Yes, if a separate legal entity |
| Spouse work | Authorized incident to status | Not in O-3 status |
Our comparison of O-1 and H-1B and our guide to profile building for founders explain how founders build an O-1 record.
What this means for you
If you hold only Indian citizenship, plan around the O-1, EB-1A, NIW or EB-5 rather than the E-2. If you have, or can claim by descent, a treaty nationality, the E-2 is open, provided the company's ownership and staff line up with that nationality.
- Check whether you hold, or are entitled to, a treaty country nationality by birth or descent.
- Treat citizenship-by-investment offers that promise an E-2 with caution; the three-year domicile rule applies unless you held E status before.
- Size the investment to the real cost of the business, and keep it at risk and documented.
- Compare the O-1 timeline and evidence before committing capital.
Where to start
Our free evaluation at /evaluate/ shows whether your record supports an O-1, EB-1A or NIW, none of which depends on nationality, and Frank, our AI assistant at /frank, finds real opportunities for the criteria you are missing. Petitions are reviewed and filed by our partner law firm, Lai & Turner.
Sources
All checked October 23, 2026.
- 9 FAM 402.9, Treaty Traders, Investors, and Specialty Occupations: E Visas (CT:VISA-2190, Feb. 17, 2026). Overview; treaty country table (no India; Grenada E-2 from March 3, 1989); dual nationality; 50 percent ownership; proportionality test; at-risk funds; marginality; develop and direct; intent to depart.
- 8 U.S.C. 1101(a)(15)(E) and amendment notes (Cornell LII). Treaty nationality; three-year domicile rule for nationality acquired through financial investment, added by Pub. L. 117-263, § 5902(b).
- 8 CFR 214.2(e)(19) (govinfo, 2025 edition). Initial admission of up to two years.
- USCIS, E-2 Treaty Investors (updated 08/20/2026). Extensions; no limit; spouse employment authorization.
- 22 CFR 22.1, Schedule of fees (2025 edition). $315 E visa fee.
- USCIS Policy Manual, Volume 2, Part M, Chapter 3. Beneficiary-owned entity may file an O-1 petition.
Frequently asked questions
Can an Indian citizen get an E-2 visa?
Not on an Indian passport. The E-2 is limited to nationals of countries with a qualifying treaty with the United States, and India does not appear on the State Department's treaty country list in the Foreign Affairs Manual. An Indian founder who also holds the nationality of a treaty country, for example through a parent, can use that nationality if the business and investment otherwise qualify.
Does Grenada citizenship by investment still work for an E-2?
It has become much harder. Grenada has an E-2 treaty with the United States, but a December 2022 law amended the E visa definition. A person who acquired treaty nationality through a financial investment, and who has not previously held E status, must have been domiciled in that country for a continuous period of at least three years before applying. Buying a passport alone no longer qualifies.
How much do I need to invest for an E-2?
There is no fixed minimum. The State Department applies a proportionality test that compares the qualifying investment with the cost of the business: the cheaper the business, the higher the percentage you must invest. The money must be at risk and irrevocably committed, and the business must be more than a marginal one that only supports you and your family.
Can my spouse work on an E-2 visa?
Yes. USCIS says spouses of E-2 workers in valid E-2 or E-2S status are considered employment authorized incident to status, so they do not need a separate work permit application. Children in E-2 status cannot work on that basis, and the family's status depends on the principal investor's.
Is the E-2 or the O-1 better for an Indian founder?
They test different things. The E-2 tests your nationality and a substantial at-risk investment, so it is unavailable to Indian-only citizens. The O-1 tests your record of extraordinary ability and has no nationality or investment requirement, and since 2025 USCIS guidance allows a company you own to be the petitioner. For most Indian founders without a treaty nationality, the O-1 is the realistic comparison.
Green Card Guide AI is not a law firm and this article is not legal advice. It describes evidence-building strategy in general terms; your attorney determines what belongs in your petition and how it's argued.
