Reference

U.S. Visa Glossary

Plain-English definitions of the immigration jargon that appears across E-2, O-1, EB-2 NIW, and L-1 applications. Grounded in the Foreign Affairs Manual (9 FAM 402.9), the USCIS Policy Manual, and primary State Department sources.

Treaty CountryAlso: treaty nation, E-2 treaty country: A country that has signed a treaty of commerce and navigation with the United States, making its citizens eligible for E-2 (treaty investor) and/or E-1 (treaty trader) visas. Approximately 80 countries qualify for the E-2 program. The current list is maintained by the U.S. Department of State at travel.state.gov.
Substantial InvestmentAlso: substantial capital: An investment amount that is substantial in relation to the total cost of purchasing an existing enterprise or establishing a new one. There is no fixed dollar minimum; USCIS and consular officers apply a proportionality test. For businesses under $100,000 in total cost, the investor typically needs to contribute 75–100%; for larger ventures the percentage can be lower. Defined in 9 FAM 402.9.
Marginality TestAlso: non-marginality requirement: The requirement that an E-2 enterprise must generate more than a marginal living for the investor and family, or make a significant economic contribution (typically via U.S. job creation). A business that merely earns enough to support the investor is considered marginal and will fail E-2 adjudication. Governed by 9 FAM 402.9-6(E).
Proportionality TestAlso: inverted sliding scale: The method USCIS and State Department officers use to assess whether an E-2 investment is substantial. Investments are compared to the total cost of the business on a sliding scale: smaller enterprises require a higher percentage of their total cost to be invested, while larger enterprises can qualify with proportionally smaller investments.
At-Risk InvestmentAlso: irrevocably committed, subject to loss: The E-2 requirement that invested capital be actively committed to the enterprise and subject to partial or total loss if the business fails. Funds held in escrow pending visa approval, or capital earmarked but not yet deployed, generally do not satisfy the at-risk requirement unless structured properly with counsel.
Source of FundsAlso: SOF, lawful source documentation: Documentation proving that the capital invested in an E-2 enterprise was obtained through lawful means and is fully traceable. Common sources include salary savings, sale of property, inheritance, or a loan secured by personal (not business) assets. The investor must document every step of the fund path.
Bona Fide EnterpriseAlso: real and operating business: A real, active, for-profit commercial undertaking that produces goods or services. The E-2 visa requires the U.S. business to be a bona fide enterprise — not a speculative or idle investment, and not a paper company. The business must be actually operating or close to operating at the time of visa application.
Develop and DirectAlso: operational control: The E-2 requirement that the treaty investor come to the United States solely to develop and direct the enterprise. This is satisfied by holding at least 50% ownership of the business, or by holding operational control through a managerial position. Passive investors do not qualify.
DS-160Also: Online Nonimmigrant Visa Application: The Online Nonimmigrant Visa Application form required for all U.S. nonimmigrant visas (including E-2), submitted electronically via ceac.state.gov before the visa interview. It collects biographical, travel, and security-related information and generates a barcoded confirmation page.
DS-156EAlso: Nonimmigrant Treaty Trader/Treaty Investor Application: A supplemental form required for E-1 and E-2 visa applications, filed alongside the DS-160 at consular interviews. The DS-156E collects detailed information about the treaty enterprise, investment, ownership structure, and the applicant's role.
Form I-129Also: Petition for a Nonimmigrant Worker: The USCIS petition used to request E-1, E-2, and other nonimmigrant worker classifications from inside the United States, typically as a change of status. Applicants outside the U.S. generally apply directly at a consulate via DS-160/DS-156E rather than filing I-129.
Foreign Affairs Manual (FAM)Also: 9 FAM, FAM: The U.S. Department of State manual that governs consular adjudications. Chapter 9 FAM 402.9 contains the operative guidance for E-1 and E-2 visa adjudications and is the canonical source consular officers consult when evaluating applications.
USCIS Policy ManualAlso: Policy Manual: The public manual issued by U.S. Citizenship and Immigration Services that consolidates USCIS policy guidance. Volume 2, Part L, Chapter 4 governs E-2 treaty investor adjudications for change of status petitions filed on Form I-129.
Third-Country National (TCN)Also: TCN applicant: An applicant who applies for a U.S. visa at a consulate in a country other than their country of citizenship or residence. TCN E-2 processing is possible at some U.S. consular posts but is at the officer's discretion, and availability varies widely by post. Portunus tracks TCN friendliness per consulate.
MRV FeeAlso: Machine Readable Visa fee, visa application fee: The non-refundable Machine Readable Visa fee charged by the U.S. State Department for processing a nonimmigrant visa application. The E-2 MRV fee is $315 (as of 2025) and must be paid before scheduling a consular interview.
Visa ValidityAlso: reciprocity period: The length of time during which an E-2 visa stamp is valid for entry into the United States. Validity is set by the reciprocity schedule — the bilateral agreement between the United States and the treaty country — and ranges from 3 months (Norway) to 5 years (UK, Germany, Japan). Visa validity is separate from the period of admission granted at the port of entry.
Period of AdmissionAlso: I-94 period: The length of time an E-2 visa holder is authorized to remain in the United States after each entry, as recorded on Form I-94. E-2 holders typically receive a two-year period of admission regardless of the underlying visa validity, and can extend by travel or I-129 filing.
Change of StatusAlso: COS: The USCIS process (via Form I-129) by which an individual already lawfully present in the United States changes from one nonimmigrant classification to E-2 without leaving the country. Change of status does not grant a visa stamp — the applicant must apply at a consulate abroad before traveling internationally.
Consular ProcessingAlso: CP: Applying for an E-2 visa at a U.S. embassy or consulate abroad, typically via Form DS-160 plus DS-156E, rather than changing status from within the United States. Consular processing results in a visa stamp in the applicant's passport that permits entry.
Request for Evidence (RFE)Also: RFE: A formal request from USCIS asking for additional documentation after reviewing an initial petition (such as an I-129 E-2 change of status). RFEs extend processing time and must be responded to by a deadline. USCIS data indicates 15–20% of E-2 applications receive RFEs.
Essential EmployeeAlso: specialty employee: An employee of an E-2 treaty enterprise who possesses specialized skills or knowledge essential to the efficient operation of the business and may be granted E-2 status to work in the U.S. Essential employees must share nationality with the treaty investor owner.
E-2 Treaty InvestorAlso: E-2 visa, treaty investor: A nonimmigrant visa classification for citizens of countries with qualifying treaties of commerce and navigation with the United States who invest a substantial amount of capital in a U.S. business and come to develop and direct that enterprise. The E-2 is renewable indefinitely but does not provide a direct path to permanent residence.