Congressional action to support E-2 visa status for Israeli nationals moves immigration policy for entrepreneurs in the right direction
The E-2 treaty investor visa is one way current immigration law allows for foreign investment in the U.S. by nationals of treaty countries. As we have been blogging, it is a no-brainer – the U.S. needs capital infusions to jump-start the economy. Many investors from overseas would like nothing better than the opportunity to do so and thus earn the right to live and work in the U.S. One country that has not yet had an E-2 treaty with the U.S. is Israel.
In fact, it has been widely reported that an Israeli MBA graduate of Stanford who had already acquired several million dollars of investor funding and was denied the H-1B visa. He is certainly someone who could have benefitted from the E-2 visa had it been available to Israeli citizens. This particular story was publicized through AP news and received so much media attention that USCIS reversed its initial denial. We can’t help feeling that this much publicized case may have been behind this current Congressional bill to quality Israel for E-2 visa status for its citizens. On February 9, 2012, legislators introduced H.R. 3992 which would allow otherwise eligible Israeli nationals to receive E–2 nonimmigrant visas if similarly situated United States nationals are eligible for similar nonimmigrant status in Israel. We finally have something going on in Congress that we can stand behind and applaud!!!