An E-2 Visa is a visa option available for people who want to either buy or start a business in the U.S.. One of the requirements of an E-2 visa is that the investor must invest money in the U.S.. The money can come from any legitimate source and that includes a loan or a gift.
You can find out more about the full set of E-2 visa requirement by clicking here.
You can find out more about E-2 Investments from loans or gifts by clicking here.
Our E-2 visa clients often ask the question: What should be in an E-2 gift letter? To this end, we have included some guidance below.
To: Whom it may concern
My name is [Name] and I am the [describe relationship] of [Investor’s name]. I am giving a gift of $XXX to my [relationship] to develop his/her business, [name of business].
[Provide a brief description of how you earned or got the money (eg, The gift is from personal savings earned from working or The gift is from funds I received from the sale of my property).] On [date] I transferred the money from my personal bank account to [Investor’s] bank account and there is no repayment expected or implied.
[Name & signature] [Letter does not have to be notarized]
The E-2 visa regulations do not restrict who a gift can come from but the narrative should make sense. For example, a gift from a parent or sibling makes complete sense given the inherent closeness of the relationship. A gift though from an unrelated party or a friend where the gift does not really make sense may raise questions. If the relationship between the applicant and the person giving the E-2 gift is not based on a close relationship, an examiner can question the legitimacy of the gift as it is not that common in life for friends to gift large sums of money (at least I do not have any friends that would do that). This is especially the case if the friend does not have substantial resources. (eg. A friend that earns $75K per year and gifts $50K to a friend).
If an applicant is buying a business, the owner/seller of the business CANNOT be the person that gifts the money to the buyer.
To find out more about the new rules or other investor visas, contact Scott Legal, P.C.
Ian E. Scott, Esq. is the Founder of Scott Legal, P.C. He can be reached at 212-223-2964 or by email at email@example.com.
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