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by hkmurakami
3904 days ago
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Having gone through this process, the stage at which you can apply for an E2 visa is after you have raised your Angel/Seed round. (to clear the 100k~300k bar. We talked to several people about this and the most commonly cited number was 300k investment, already residing in a US bank account) Note that if you have a founding team with mixed US-foreign residency and you have convertible notes involved, you may have to write a convincing letter of explanation to the embassy representative demonstrating why the convertible notes are effectively equity, and how the ownership breakdown would materialize under various "future funding event" scenarios. |
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My experience on the process is that you have to demonstrate a commitment in the business through the money you spent. When we got the Visa we was in the process of raising our seed round and the money in the bank account were pretty low (but we've already invested).
I've no experience on your point of mixed founding teams but there's something to be considered, when the percentage of ownership from foreign citizen goes under the 50% the E-2 Visa is no more valid. If you are already near the limit and you plan to raise in the US better save money and check other solutions (e.g: H1B, J1, O1).
Anyway, better to have a Visa Lawyer assisting you, the only important information is that there are a lot of opportunity.