Buying or starting a trucking company as an E-2 Business
Do you have experience helping trucking business owners get the E2 visa?
Yes! This is a very common E2 visa business, and we have helped people from multiple countries get an E2 visa to run a trucking company. Most inquiries regarding trucking companies come from Canadians. Of course entrepreneurs from any treaty country are eligible, but Canada citizens happen to call us the most frequently regarding this specific type of business.
Are trucking or logistics companies approvable E2 visa businesses?
Yes! These are definitely eligible for the E2 visa. Remember that you must meet the E-2 visa requirements regardless of the business.
Can I use the truck as part of the investment?
Maybe. Let’s break it down a little bit because, like most answers surrounding the E2 visa, the answer depends upon the facts. So, what questions are important to ask when determining whether you can use the truck as part of the investment:
Did you lease the truck? If so and if you are leasing it from a company in your home country, you likely will not be able to use that as part of the E2 visa investment. This is because you don’t actually own it (the finance company does), and secondly the finance company will likely not let you take an asset it owns to a different country.
In addition, the finance company will likely not want the asset to be used in a way different than the original intent. (Many times, you have to lease the vehicle for Company A or even in Company A’s name. If you want to start a new company in the U.S. and use it for that company, the finance company may not allow that.) However, if you are leasing the truck from a U.S company, you may have an easier time using the lease payments as part of the investment in the E2 visa business.
We’ve dealt with investors who have leased semi-trucks in the United States, and those U.S. lease payments were successfully accepted as part of the E2 visa investment requirement. Please keep in mind that only the lease payments actually made at the time of the application will be part of the investment. The value of the truck will not be used nor will the total lease payments owed as part of the contract. Finally, keep in mind that the company, person or entity leasing the vehicle will make a big difference. If you leased it as an individual or if the U.S. entity leased it, it may be easier to show that these payments fit the E2 visa investment requirement. If a foreign entity or another person leased the vehicle, it may be difficult to show the correct source of funds for the E2 visa.
If you own the truck, where did you buy it? If you purchased the vehicle in the U.S., we will have a much easier time showing that the investment can be used for the E2 visa business. If you purchased it in your home country, things can get a bit trickier. You still may be able to use it (depending on who the buyer of the truck was), but the truck will need to be physically located in the U.S. at the time of application until the time of the interview. This could be 8-12 weeks that the vehicle must be located in the U.S. full-time. Remember – the E-2 visa is about investment in the United States not an investment in Canada or Mexico or another country.
Will the truck be used in the furtherance of the U.S business? If not, it’s possible that the cost won’t be used as part of the E2 visa investment. We must show that it was leased or purchased by the E2 visa applicant (whether an individual or company), and that it will be used solely for the U.S. entity.
How much of the cost of the truck can I use as part of the investment?
We recommend that no single investment is more than 50% or so of the entire investment. The government wants to see that you have a U.S. entity – they don’t want to see that you have one truck located in the U.S. Therefore, even if we are able to use the truck as part of the investment, we recommend that at least 50% of the total investment is spent as cash on other things to make a well-rounded investment.
As an example, if you purchase a truck for $200,000 in the U.S., this is great. You now own a truck in the United States. However, a truck is not a business. You will need additional cash (at least $50,000 USD or so) to make some additional Investments (an office, insurance, a couple of computers, etc.).
In conclusion, the trucking business is a great business for E2 visas! We’ve done it, we love it and we’d love to talk to you about your trucking business. So, whether you’re from Canada or any other treaty country please give us a call and let’s talk about how we can assist on your E2 visa journey.
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