How to move to the US from Canada as an investor

Thinking of expanding your business horizons and contributing to the U.S. economy? Moving to the U.S. as an investor offers a unique opportunity to create jobs and grow your enterprise in a dynamic market. This pathway is facilitated through specific visa options, notably the E-2 Treaty Investor Visa and the EB-5 Immigrant Investor Visa.

In this guide, we'll dive into the key points of each visa category, including eligibility requirements, application processes, and potential benefits. We'll also explore how Wise can simplify the financial aspects of this transition by offering you fast, cost effective, and transparent ways to manage your money across borders.

How Can a Canadian Move to the US Without a Job?

As a Canadian investor, moving to the United States without a traditional job offer is not only feasible but can also be a strategic decision to expand your business and contribute to the local economy. Two primary pathways allow this transition: the E-2 Treaty Investor Visa and the EB-5 Immigrant Investor Visa.

The E-2 Treaty Investor Visa is designed for investors from treaty countries, including Canada, who wish to enter the U.S. to develop and direct an investment enterprise. This visa is particularly attractive for those planning to invest substantial capital in a U.S. business.

The EB-5 Immigrant Investor Visa offers a path for investors seeking permanent residency in the U.S. It requires a significant investment in a new commercial enterprise that creates or preserves at least 10 full-time jobs for qualified U.S. workers.¹

To help you decide which visa aligns best with your objectives and circumstances, here is a comparison of the two visa types:

When choosing between the E-2 and EB-5 visas, it's essential to consider your long-term goals and resources:

• E-2 Visa Limitations: While the E-2 visa is renewable indefinitely as long as the business remains operational, it does not provide a direct path to U.S. citizenship. This could be a limitation for those seeking to settle permanently in the U.S.
• EB-5 Visa Requirements and Benefits: The EB-5 visa provides a pathway to permanent residency and citizenship after meeting specific job creation requirements.

A Closer Look at the E-2 Treaty Investor Visa for Canadians

To qualify for the E-2 Treaty Investor Visa, applicants must meet several specific requirements:

• Nationality: The investor must be a national of a country with which the United States maintains a treaty of commerce and navigation. Canada is one such treaty country.
• Substantial Investment: The applicant must make a significant investment in a bona fide enterprise in the United States. The amount should be sufficient to ensure the investor's commitment to the successful operation of the business.
• Active Participation: The investor must come to the U.S. to develop and direct the investment enterprise. This requires more than a passive investment, demonstrating active involvement in business operations.

To apply for the E-2 Treaty Investor Visa, you need to follow several steps:.

1. Prepare Documentation: Gather necessary documentation to demonstrate eligibility, including proof of nationality, investment, and business plan detailing the enterprise's nature and financial projections.
2. Submit Forms: Complete and submit the Non-immigrant Visa Electronic Application DS-160 form online and have employees complete DS-156E.² Pay the associated application fees.
3. Pay the MRV Fee: The Machine-Readable Visa (MRV) fee must be paid to schedule a visa interview at the U.S. consulate.
4. Schedule a Visa Interview: Once your forms are submitted and the MRV fee is paid, schedule an interview at a U.S. embassy or consulate in Canada. Availability of appointment times can vary, so it’s advisable to book early.
5. Attend the Visa Interview: During the interview, a consular officer will assess your eligibility for the E-2 visa. Be prepared to discuss your business plan, the nature of your investment, and your role in the enterprise.
6. Receive Decision: After the interview, you will be informed whether your E-2 visa application has been approved. If approved, you'll receive your passport with the visa stamp, allowing you to enter the U.S. to manage your investment.

A Closer Look at the EB-5 Immigrant Investor Visa for Canadians and Residents in Canada

To qualify for the EB-5 Immigrant Investor Visa, applicants must meet several key criteria:

• Investment Amount: It is generally required to invest a minimum of USD 1,000,000 in a new commercial enterprise. However, this requirement is reduced to USD 500,000 if the investment is made in a Targeted Employment Area (TEA): a rural area or an area with high unemployment.³
• Job Creation: The investment must create or preserve at least 10 full-time jobs for qualifying U.S. workers within two years of the investor's admission to the U.S. as a Conditional Permanent Resident.³

The process for obtaining the EB-5 Immigrant Investor Visa involves several stages:

1. Select and Structure the Investment: Decide on the direct investment or regional center approach. Direct investment involves investing in your commercial enterprise, while regional center investment involves pooling funds in designated projects that meet job creation criteria.
2. File Form I-526: The investor must file Form I-526, Immigrant Petition by Alien Investor, with the United States Citizenship and Immigration Services (USCIS).³ This petition requires comprehensive documentation, including evidence of the investment amount, business plans, and job creation potential.
3. Petition Approval: Upon approval of Form I-526 and aligning of dates, the applicant will be instructed to complete Form DS-261 (Choice of Address and Agent) and pay fees.³ You will then submit all the forms, civil documents, and other immigrant visa documents.
4. Initial Conditional Residency: After your EB-5 visa approval, you'll receive a two-year conditional Green Card. During this time, you must meet job creation and investment requirements.

Make the most of your money with Wise

With the costs and investments required, you might be asking yourself whether your money would be safe. Wise has you covered in this regard, with transfers that are secure, cost effective and easy to make. Wise keeps your money safe in the following ways:

• Wise is regulated in the Canada as well as in the US. This ensures that all our customers are protected in each region.
• In the US, Wise complies with federal and state laws while helping you make the most of your money.
• For US customers, Wise uses the following approach to safeguard your money:
  • Cash deposits at Goldman Sachs Bank USA or JP Morgan Chase Bank N.A.
  • Liquid assets in Short-term US Government bonds

This ensures that your money is highly liquid and always available for your use. Since Wise is not a bank, your money is never loaned out to people or businesses.

When making a large amount transfer, you would be asked to produce documents such as to verify the source of wealth as well as the intent of your transfer. Your information is not transmitted to third parties except in cases where it would be necessary to complete your transfer via a partner bank.

You can set up biometric verification along with 2-step verification to ensure that your money and transfers are safe and secure.

Wise used the mid-market rate and a pay-as-you-go fee structure, you never overpay on any transfer you make. Moreover, you get reduced fees for large transactions made with Wise.

For transfers of 2,000,000 GBP onwards, you pay a discounted fee of 0.10% of the total amount.

For assistance with large amount transactions, you could reach out to Wise and a team dedicated to such transactions will reach out to you within a working day.

Final Thoughts on Moving to the US as an Investor

Relocating to the United States as an investor from Canada offers a wealth of opportunities to grow your business and contribute to the U.S. economy. Whether you choose the E-2 Treaty Investor Visa or the EB-5 Immigrant Investor Visa, each path offers unique advantages and considerations that align with different entrepreneurial goals and personal aspirations.

Want to make your move easier? Wise helps you manage money across borders effortlessly—with fast transfers, low fees, and the real exchange rate, so you keep more of your hard-earned money. Relocating can complicate managing finances. Wise makes international transfers and multi-currency accounts simple, so you can focus on growing your business.

Sources:

1. U.S. Citizenship and Immigration Services
2. U.S. Embassy
3. U.S. Department of State
4. U.S. Department of State