E-2 Visas Approved for Five (5) Years @ U.S. Consulate in Rome for Brother/Sister Investment in Pizzeria
August 6th, 2014 by SRW Lawyers
Our clients, a brother and sister, both Italian citizens, recently purchased an existing business (pizzeria) in the U.S. as their investment for their E-2 visa applications. The brother and sister each contributed less than $20,000 cash from their personal funds in Italy towards the purchase price, as well as signed a promissory note for less than $30,000 (the remaining balance due on the purchase price) under which they were jointly and severally personally liable for the promissory note. When submitting the packet to Rome, we argued that each investor should be credited with both the cash investment and the total liability under the promissory note since each was at risk for approx. $40,000 in the true commercial sense – despite the fact that the purchase price was less than $60,000. The Consulate approved both the brother and sister for E-2 visas for a period of five (5) years.
