After a very long wait, Israeli and American citizens will soon be able to invest money in their respective countries and gain visas because of their investments. President Obama signed the law in 2012 but the treaty had not gone into effect because of the Israeli Knesset’s failure to ratify it. On August 13, 2014, the parliament finally approved the law and the final details are currently being ironed out by the two sides. One of the impediments is the fact that Israeli law does not grant work authorizations to dependents. On the other hand, if a foreign citizen gets an E-2 visa in the United States, their dependents may apply for and be granted a work authorization.
The E-2 treaty visa is issued to investors, their spouses and children. It permits non-immigrants to live in the United States if they make a significant investment in business or investing work. By allowing the influx of Israeli investment in the US and American investment in Israel, these visas will be beneficial for the economies of both countries.
If you, or someone you know, can benefit from this treaty between the US and Israel, call us to discuss this new development.