In Last Decade, E2 Brought 5 Times More People to the US Than EB-5 – and Likely More Money Too

In the last ten years, 74,128 individuals have arrived in the US through the EB-5 program, while 352,076 have come on an E2 visa. In the same period, the EB-5 program has raised investments worth US$29 billion, while E2 participants – who are not subject to hard and fast investment requirements – will have invested between US$21bn and US$42bn.

In 2018, 9,602 individuals received EB-5 visas, while 41,181 obtained E2-visas.

In terms of source countries, Japan has been the most significant contributor of applications by some distance, accounting for around a third of all applicants during most years. Germans, the second largest contingent, have made up roughly 10% of applicants during most years in the period, while Canadians, British, French, South Koreans, Mexicans, Italians, Spaniards, and Taiwanese made up the remaining top ten source countries.

The IIUSA estimates EB-5 program revenue by multiplying the minimum (and standard) investment amount by the number of I-526 approvals. For the E2 visa, there are no explicit minimum investment amount requirements, but, unofficially, the minimum is US$150,000, while most advisors recommend at least a US$200,000 investment. Anecdotally, we know most program participants start or acquire a business with capitalizations of US$2-400,000.

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Depending on the average investment assumptions for E2-businesses, then, the E2 visa brought more capital to the United States during most years in the period. Assuming an average investment of US$200,000, the program raised an aggregate of US$28 billion in the last ten years; at US$250,000, FDI worth US$35 billion; at US$300,000, more than US$42 billion.