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FOR ENTREPRENEURS · SHANNONShannon

Your ambition.Your enterprise.

E-2 status can be relevant to an eligible treaty national who will develop and direct a real U.S. enterprise through a substantial investment. A Québec City address or an attractive purchase price does not, by itself, establish eligibility. Begin with the proposed ownership structure, the enterprise's actual business activity, and the lawful source of the invested funds, then review the transaction's specific terms. A commercially appealing proposal and a qualifying immigration case remain separate conclusions. Canada is a treaty country, but the investor must have treaty-country nationality, the enterprise must have treaty nationality through its ownership, and the funds must be irrevocably committed and at risk. E-2 status does not itself provide a direct path to permanent residence. A first review should trace nationality, ownership, the source and deployment of funds, and the applicant’s actual authority to run the venture. E-2 funds must be committed in a way that cannot simply be withdrawn and must face commercial loss; the enterprise also cannot be a marginal vehicle for the investor’s household.

Talk about E-2
PurposeDevelop and direct a business
InvestmentSubstantial and at risk
Fixed minimumNo universal dollar threshold

IN THIS GUIDE · Assess the Québec City-connected enterprise, the investor, and the funding commitment as separate questions

01

Confirm treaty nationality and real decision-making rights

Identify the investor's treaty nationality and the enterprise's ownership structure. Gather the agreements that establish the applicant's actual ability to develop and direct the business, including any rights retained by a seller, co-investor or lender. Canadian permanent residence does not establish Canadian nationality for this purpose, and a share percentage should always be read together with the real control arrangements. For the enterprise to have treaty nationality, at least 50% must be owned by nationals of the treaty country; developing and directing ordinarily requires at least 50% ownership or operational control. The ownership ledger and governing documents should show both treaty nationality and practical control. An investor who has money in the business but no power to direct its course needs a different analysis.

02

Trace the funds from their lawful source to the investment

Build a dated path from the lawful source of funds to the actual investment, identifying transfers, currency conversions and any relevant agreements along the way. Personal, unsecured borrowing may qualify, while borrowing secured against the enterprise's own assets is treated differently. Hypothetical example: a Québec City-based purchaser has a loan secured by several personal assets; review the complete security documents rather than relying on the word personal appearing in a term sheet. Build a transaction timeline that ties each source record to a bank movement, currency exchange, and business expenditure. This lets the reviewer distinguish genuine investment funds from an unexplained account balance.

03

Read the escrow and business-cost terms together

The FAM recognizes qualifying investment-in-process and escrow arrangements, including certain visa-contingent purchases. Identify the release, refund and cancellation conditions before any funds move. Substantiality is measured against the actual cost of the specific business, and there is no fixed dollar figure that substitutes for that analysis; distinguish money still under discussion from money committed under signed terms and from amounts already spent. Read the agreement for what happens on refusal, cancellation, and default, rather than relying on the word escrow. The applicant needs a binding commitment with real exposure, while sensible contingencies can still be documented accurately.

04

Show a real enterprise, not only a household investment vehicle

The business must satisfy the non-marginality requirement. Explain its actual operating activity, resources and supported financial expectations rather than relying on unexplained growth projections. Keep historical results distinct from forward-looking forecasts, particularly after any recent change of ownership. Canadian citizens generally need an E visa for this route, so confirm the applicable consular process rather than assuming an exemption from another category applies. Use forecasts to show the scale and operating logic of the business, including customers, expenses, staffing, and the point at which it can support more than the investor’s household. A polished plan cannot replace evidence that the enterprise has actually begun.

SOURCES FOR THIS GUIDE

Sources reviewed 2026-09-07. This guide covers a preparation focus; it is not an individual eligibility assessment.

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