The new 2023 additional of Portugal in the E-1 and E-2 visa treaty list is exciting news for individuals and businesses looking to invest, live and work in the United States. This new bill opens up a wide range of opportunities for citizens of countries like Vietnam, whose first citizenship doesn’t qualify for the E-1 and E-2 visa program. In order to work and live in the U.S., you would just need to buy the Portuguese citizenship to be eligible for the U.S. Investor Visa. And that is what we are going to discuss in this article.

The National Defense Authorization Act (NDAA) is a federal law that authorizes funding for the Department of Defense (DOD) and other national security programs. The NDAA is passed annually by Congress and signed into law by the President. This year, the NDAA includes a provision that allows for the addition of Portugal to the E-1 and E-2 visa treaty list.

Foreign nationals can invest in the United States under the E-1 and E-2 visa treaty investment programs. Portugal is the 82nd nation included in the program at the time of article. As a result, Portuguese nationals will now be able to get an E-1 or E-2 visa and move to the United States to live and explore investment opportunities. Let us explain more here:

An E-1 visa is for treaty traders, individuals or companies who are nationals of an eligible country, like Portugal, and carry on substantial trade involving numerous transactions over time and conduct principal trade between the United States and Portugal. An E-2 visa is for investors, individuals or companies. This means that Portuguese investors can start a new business in the United States and invest in a startup, purchase an existing US business in whole or in part, or invest in a franchise.

The inclusion of Portugal to the E-1 and E-2 visa treaty list is a significant development for Portuguese citizens looking to engage in trade or make investments in the US, as it opens up a wide range of opportunities for business owners and investors from Portugal to expand their operations in the US.

I. Background on the NDAA and Portugal’s inclusion in the E-1 and E-2 treaty list

The AMIGOS Act, also known as the Advancing Mutual Interests and Growing Our Success Act, was introduced in Congress in January 2019. The bill aimed to add Portugal to the list of eligible countries for the E-1 and E-2 visa program. The bill was introduced in the House and later in the Senate, but it did not make it into the Senate version of the bill that was ultimately signed by President Donald Trump.

Portugal has previously been ineligible for the E-1 and E-2 visa program, which is a treaty investment program that allows foreign citizens to invest in the United States. The program currently includes 82 countries, with Portugal being the newest addition. The addition of Portugal to the list of eligible countries for the E-1 and E-2 visa program will allow Portuguese citizens to live and pursue investment opportunities in the United States.

In addition to Portugal, other countries have recently been added to the E-1 and E-2 visa program. Israel and New Zealand were both added to the list in recent years. Israel’s inclusion in the program was a result of a companion bill introduced in the Senate in 2011, which took 8 years to be passed. New Zealand was added to the list in 2019, after the bill was introduced in the Senate in 2017.

The addition of these countries to the E-1 and E-2 visa program is a positive development for citizens of these countries who wish to engage in trade or make investments in the United States. It also opens up a wide range of opportunities for business owners and investors from these countries to expand their operations in the US.

II. Explanation of the E-1 and E-2 visa program

The E-1 and E-2 visa program is a way for foreign citizens to invest in the United States. It is called a “treaty investment program” because it is based on agreements (called treaties) between the US and other countries.

With an E-1 or E-2 visa, a foreign citizen can open a variety of businesses in the US. This can include things like opening a restaurant, a law firm, or a trading company. The type of business you can open depends on the type of visa you have.

There are two types of E-1 and E-2 visas: E-1 and E-2. The main difference between the two is the reason for coming to the United States. An E-1 visa is for people who are coming to the US to do a lot of trade (buying and selling) with the US and their home country. An E-2 visa is for people who are coming to the US to invest money in a business.

In short, the E-1 and E-2 visa program is a way for foreign citizens to open businesses in the US and invest in the country, but the type of visa and the business they can open depends on the nature of the investment they are making.

• E-1 and E-2 Visa Requirements
  • First, Business Entrepreneurs must open an independent company in the US with minimum investment of about $150,000 USD.
  • Second, for business entrepreneurs originating from a country that has no E-2 treaty with the United States, a second citizenship from a country that signed the E-2 treaty with the US is required (examples of second citizenship are Portugal, Grenada, Greece, Spain).
  • Third, the new company established in the US need to have a business plan and an appropriate business model.
  • Fourth, the company needs to rent a physical office to operate.
  • And finally, The company must have a website.

III. Implications and Advantages/Disadvantages of the new immigration law

So if you are a foreign national and want to invest in the U.S. but you country is not in the E-1/E-2 visa treaty, why you should get Portugal Golden Visa?

The Portugal Golden Visa is, in our opinion, the best EU citizenship program. It is a fast-track process for getting permanent residence and citizenship in an E.U. country through investing in a real estate, or real estate funds. The program gets a path to Portuguese/EU citizenship for foreign investors and their families without the need to reside in the country. And you can become eligible for Portuguese citizenship in as little as five years.

So under the National Defense Authorization Act that was signed into law, there is a noticeable change that impacts many investors. So, in the past, investors whose nationality were not under the E-1/E-2 treaty with the U.S. used to apply for a citizenship by investment program that was eligible to the E-1/E-2 visa program such as the Grenada citizenship in order to apply for the U.S. visa directly. That was the case for investors coming from China, Russia, India and Brazil. As they were not directly eligible to get an entrepreneur visa from the U.S., they would invest in an eligible citizen and subsequently get an E-2 visa. In order to moderate the influx of those investors, the Act now added a new requirement only for those who got their citizenship by investment programs. Under the updated terms, only investors who got their new passport by investment need to be domiciled at least 3 consecutive years in order to be eligible for the E-1/E-2 visa program.

So what does “be domiciled” really mean? Under the new terms, be domiciled means that you need to have your main residence in the eligible country treaty like Portugal or Grenada. In other words, we will need to prove that you pay taxes there and live at least 183 days per year in the country you got the passport from for 3 successive years before applying E-2 visa. That lengthens the process of the US entrepreneur visa but it would be a great opportunity to develop your investments in Portugal at a fraction of the cost. If you need to live at least 6 months in Portugal to get the E-2 visa, we made a video about the best time to live in Portugal.

At Duong Global, our team of experts will advise step by step on how to prepare your document, invest your budget at the right place. Creating a whole plan not only to get Portugal Golden Visa but also you future E1/E2 visa! So you can contact us via our Facebook Messenger or email us, we will reply to you soon.

Conclusion

In summary, the National Defense Authorization Act (NDAA) recently signed into law by President Biden now allows for Portuguese citizens to apply for an E-1 or E-2 visa. This is great news for Portuguese individuals and companies looking to invest and engage in trade in the United States.

The E-1 visa is for treaty traders, individuals or companies who are nationals of an eligible country, like Portugal, and carry on substantial trade involving numerous transactions over time and conduct principal trade between the United States and Portugal. E-1 visa holders can open businesses such as import/export companies, wholesale and retail businesses, and consulting firms.

The E-2 visa, on the other hand, is for investors, individuals or companies, who invest a substantial amount of capital in a business in the United States. This can include opening a new business, purchasing an existing business, or investing in a franchise. E-2 visa holders can open businesses such as restaurants, hotels, technology startups, and real estate ventures.

The inclusion of Portugal to the E-1 and E-2 visa treaty list opens up a wide range of opportunities for business owners and investors from Portugal to expand their operations in the US. If you’re a Portuguese citizen looking to invest or engage in trade in the US, it’s important to understand the requirements and the process of obtaining an E-1 or E-2 visa. We recommend consulting with a lawyer familiar with immigration laws to understand the fine prints and implications of this new immigration law and to ensure that you’re fully prepared for the process.

If you have any questions or need assistance, please don’t hesitate to contact us. We have over 14 years of experience helping clients around the world relocate and get second or third citizenship, residency permits, setting up companies and helping investors in different countries. We would be happy to assist you in your journey to the United States.