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CORN FESTIVAL
AUGUST 12
Israeli Investors In
U.S. Are Welcomed
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New visa opens doors for Israelis to
start and grow businesses here.
N. Peter Antone
Special to the Jewish News
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14
August 9 • 2012
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COMO CONSO
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I
n June of 2012, President Barack
Obama signed legislation add-
ing Israel to the list of countries
whose citizens are eligible for E-2
investor visas to the United
States. This visa makes
it much easier for
Israeli nationals to
start or invest in
commercial enter-
prises in the U.S.
It is important to
note that the E 2 is
a work visa differ-
ent from another
visa known as the
EB-5, sometimes
referred to as an
"Investment Green Card."
The EB-5 is open to all nationali-
ties, requires investment of at least
$1 million (half a million in certain
localities), and leads to a Green Card.
The E-2, on the other hand, is a
work visa that, although it does not
necessarily lead to a Green Card, is
potentially extendable indefinitely, and
is secured by a substantially smaller
investment than the EB-5.
The E-2 work visa is appealing
because, while the initial period of
stay granted is two years, there is no
limit to the number of extensions
available. Spouses can obtain their
own separate work authorization,
allowing them to work without con-
ditions anywhere in the U.S. Children
under 21 can attend public schools
and may be treated as residents for
college tuition purposes.
The E-2 visa can be used for any
type of business and can be obtained
at an early stage of the process of
starting a business. Therefore, the
E-2 visa is a welcome opportunity for
Israeli entrepreneurs who may not
have an already-established business,
but have an idea for one and a desire
to invest in a U.S. market.
While the rules require that the E-2
investment be "substantial," that term
is flexibly applied and has included
investments as low as $50,000. The
investment does not need to be
operational at the time the visa is
obtained, nor is there a minimum
dollar amount that must be invested;
MBERLONI
how "substantial" the investment
needs to be is determined according to
the details of each individual case.
For example, service businesses
tend to require low start-up capital.
Generally, the investment must be
substantial in proportion to the total
value and in keeping with the
typical amount neces-
sary to establish that
type of enterprise.
More importantly,
the E-2 cannot
be a disguise for
self-employment
or for self-transfer
to the U.S.; rather,
it requires the
potential to create
job opportunities
for U.S. workers, even if
only in the future. To prove
that potential, the investor needs a
detailed business plan illustrating
how the business will expand and
hire more workers.
Applicants can be individual inves-
tors or corporate entities whose
majority members are Israeli citizens.
In the case of a corporate entity, the
individual seeking the visa must hold
an essential role within the enterprise,
either as an owner investor or as a
valuable employee.
The creation of the E-2 Investor
Visa is a great development for Israeli
investors and entrepreneurs, as well
as for the U.S.
Israel has the greatest number of
start-ups per capita of any country
in the world. This innovation and
resilience makes Israel a hotbed of
entrepreneurial ideas, which can now
more easily be implemented in the
U.S., to the great advantage of Israeli
entrepreneurs.
The U.S., with its huge market
potential, is a fertile ground for new
ideas and investments. This visa also
benefits the U.S. economy by creating
jobs for U.S. workers and opportuni-
ties for innovative businesses to grow.
We hope that Michigan will get its
fair share of growth from dynamic
and innovative Israeli investors and
entrepreneurs. 0
N. Peter Antone is an attorney at
the immigration law firm of Antone,
Casagrande & Adwers in Farmington Hills.