Starting May 1, United State will grant the working E-2 visa for Israeli entrepreneurs who commit to investing “a substantial amount of capital” and, in doing so, employ American citizens, Calcalist report.
After seven years of negotiations between both countries, the E-2 visa was approved last week. It is expected to come into effect on May 1, a spokesperson for the Israeli Ministry of Foreign Affairs told Calcalist.
The E-2 visa also allows those investors to serve in key positions in their companies with people of the same nationality.
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According to the U.S. citizenship and immigration website, the level of investment required varies by the nature of the business. However, applications must show how the investment will lead to the hiring of U.S. workers,
The negotiations to Israeli participation in the E-2 program started in 2012 with a treaty signed by President Barack Obama. However, Israeli law did not contain a similar provision for U.S. citizens to invest in Israeli companies and obtain work authorization.
The issue was resolved by the Internal Affairs Committee creating the B-5 visa for American investors interested in setting up a company in Israel.
