IN THIS GUIDE · Connect asset-sale proceeds to a real enterprise commitment
Start with the E-2 eligibility and application overview
Start with the actual sale terms
Hypothetical example: an applicant expects a business sale to finance a U.S. acquisition, but part of the price will be paid later. Identify the amount received, the deferred amount and any conditions. An expected sale price is not the same as funds presently available or qualifying capital already committed. Sale proceeds do not resolve enterprise nationality: at least 50% must have the relevant treaty nationality through ownership. To develop and direct the business, the investor needs at least 50% ownership or other qualifying operational control under the actual agreements.
Explain lawful source and path
Gather ownership, acquisition, sale and bank records that explain how the applicant obtained and moved the funds. Identify taxes, debts, distributions and other deductions where relevant. If borrowing is involved, identify liability and every item of collateral. Personal unsecured debt and debt secured by the investor’s own non-enterprise assets may count. Enterprise-secured debt does not count, even with additional personal collateral.
Read the enterprise commitment carefully
Assess substantiality in relation to the actual business rather than a universal minimum. Review escrow, closing and refund conditions; qualifying arrangements may support funds in the process of investment without every transaction having closed first. Do not assume that every conditional deposit or every business expense qualifies.
Test the operating plan after the transaction
Explain the real business, control rights and how the enterprise will meet the nonmarginality requirement. Include the resources available after closing rather than relying only on the purchase price. Canadian citizens generally require an E visa, so coordinate the applicable process with commercial conditions instead of treating a completed purchase as work permission. Evaluate nonmarginality using capacity to provide more than a minimal living for the investor and family or a significant economic contribution; projected capacity should generally be achievable within five years. Funds must be committed and at risk rather than merely available following the sale. Intent to depart when E status ends is a separate applicant requirement.
Confirm the investment is substantial and irrevocably committed
At least 50 percent of the enterprise must be owned by nationals of the treaty country, so map the cap table, holding companies and any co-investors before assuming the structure works. Money sitting in a Canadian account, or held in an escrow that returns it if the visa is refused, has not yet been invested; the accepted approach is an escrow that releases to the seller on visa issuance and only that condition. List every current and proposed owner, their citizenship, and their exact percentage, then confirm that treaty nationals of the same treaty country would still hold at least fifty percent of the United States enterprise after the new subscription closes. The capital must be irrevocably committed and exposed to loss; a refundable reservation or a seller's unrestricted cancellation right may therefore need closer analysis. Ask both whether the enterprise will be real and operating by the interview date: a signed yard lease, purchased equipment, a state contractor’s registration and a first customer contract answer marginality better than projections.
Sources reviewed 2026-09-07. This guide covers a preparation focus; it is not an individual eligibility assessment.