I worked with a young woman from Thailand yesterday who was very impressive. While in the U.S. on a tourist visa, she bought an existing Thai restaurant with 90% ownership. Then, without the use of an attorney, she filed her own petition to change from B-2 to E-2 status as a treaty investor, since Thailand is on the list of treaty trader countries, and she had invested about 100K in the restaurant. Because she did not use an attorney, she did not file the case correctly the first time and she received a "notice of action" from the USCIS, giving a long list of documents she needed to submit, which were lacking in her petition. Still, her English is quite good and she is obviously well-educated, so she complied perfectly with the USCIS request in detail (including an impressive-looking business plan) and they then approved her change to E-2 status.
E-2 visas have some distinct advantages. One of them is that there is no quota on the number of visas issued. Another is that one normally applies for the visa directly at the US Embassy and therefore, there is no form to file at the USCIS. However, if a person is already in the US, then he or she must file for a change of status with the USCIS and that involves forms I-129 and I-129E. What this woman did not realize is that even if you get a change of status approved by the USCIS in the US, the State Department does not fully consider that approval and instead, basically expects a re-submission of the whole case and a re-evaluation, followed by approval or denial of the E-2 visa at the U.S. Embassy. It's a completely separate issue from getting the change of status approved in the U.S.
This Thai woman has a Thai boyfriend and they have family pressures to return home to get married. Once they do this, they will BOTH need to apply for an E-2 visa to return to the U.S. Again, the good news is that a dependent using an E-2 visa can qualify for a work permit and can also go to school. He will still pay out-of-state tuition in Reno but he will not be required to be full-time. The thing that this woman was worried about was whether the visa would be approved. I told her that the safest thing with a legal status is always to stay in the U.S. That is the only no-risk option. However, if a petition is well-documented and thorough (as well as true and complete), there is no reason why an E-2 would not be granted abroad. The reason is because the U.S. (and certainly Reno) is very interested in foreign investment dollars and if you are bringing 100K into our economy, there is no benefit to stop you from doing so. I explained that the most important thing is that she have documentation that proves that this is exactly what she is doing. It is also true that most men between the ages of 16 and 45 still have to get a security check to get a visa, so that might delay her husband's visa a bit longer than her's.
Another advantage to E-2 status is that there is no time limit! The visa is issued for one year and can be extended in two-year increments indefinitely. However, in true USCIS contradictory style, an E-2 (unlike an H-1B or L-1) must prove his or her intention to return home... eventually. How exactly this is done in any real fashion is a mystery. However, give the State Department a good excuse and proof of investment and they will generally not pursue the question of immigration too deeply. An E-2 is really an excellent status for people who have an interest in starting a business in the U.S. and money to invest.
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