Can I borrow money from family or friends for an E-2 investment? Is a Loan Agreement Required if the Loan is from Family or Friends?
An E-2 investment visa allows some foreign nationals to run a business in the United States. They must own at least 50% of the company, invest a significant portion of their personal funds, and intend to develop and direct the company in the United States. More information on the E-2 visa criteria can be found here.
One of the key conditions of the E-2 investor visa is that the applicant invest a significant amount of personal capital in order to start the firm. The investor must demonstrate that their own money are committed and at risk in a commercial sense, which means that if the business fails, the investor may lose their funds. The investor must also show that the money for this considerable investment are lawful, which means that they are not the result of illicit conduct.
Many of our prior clients used gifts or loans to fund their investment. If the funds are a gift or a loan, the investor must still submit evidence to substantiate the source of the gift or loan. For example, if the investor receives a gift from a family member and the gift is derived from a property sale, the investor would provide a signed gift letter, a copy of the Purchase/Sale agreement, proof of the family member receiving the funds from the property sale, and proof of the family member transferring the funds to the investor.
Loans are also an acceptable source of money for E-2 investment, with the proviso that they cannot be secured by the E-2 business’s assets. Loans secured by the investor’s own assets and unsecured loans are both permissible by law, while certain Consulates have a less favorable view of unsecured loans, which can be riskier. When applying for a loan from a bank, the signed loan agreement describing the loan terms and security is frequently all that is required. When an investor obtains a loan from a family member or friend, the arrangement may be more informal than when obtaining a loan from a bank, thus candidates may inquire whether a written loan agreement is required. Yes, a written agreement signed by both parties outlining the loan parameters such as the repayment term, interest rate, security, and what would happen in the event of a default is required. The lender must also give the applicant with evidence proving that the provided monies are lawful and not from a criminal source.
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The ultimate goal is to assist people in an effective immigration process in the United States.
Our focus is on identifying the most effective solutions for you subject to plans proposed by the United States government.
Whether clients need assistance with complex visas such as E1 and E2 investor visas to the United States and/or waiver petitions, participation in Green Card programs, or other immigration issues, we have the experience required. We are proud of our reputation for achieving the results our clients require in order to meet their personal and professional goals in moving to the United States.
The idea to start up this company came to the founders while they were considering immigrating to the United States.
After hundreds if not thousands of hours of research in order to identify the best alternative by the complexity, length, and cost-effectiveness of the procedure,
And once they came up with the realization that an average immigration process for a 4 person based family, regardless of the visa type they achieving, could take an average between 45 to 180 days and could cost between
35,000$ – 70,000$ USD-
Which is relatively high for an average family.
Due to that problem, many immigration procedures are becoming way longer, exhausting, less effective & even not possible for some families & individuals.
After realizing those facts, the solution to this major problem came to the founder’s minds and they decided to take action!
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