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Only for active investment – not simply for passive investment. You can’t simply purchase a rental property with the expectation of performing a few minimal management tasks and expect to be able to obtain an E-2 visa on this basis. This has been specifically addressed by the authorities adjudicating E-2s as a situation that will not qualify for E-2 status. However, where significant management activities will be performed by the E-2 holder beyond a certain minimum, an E-2 may be possible in the real estate context. Real Estate development – where the treaty investor will actively develop a property or redevelop existing property and oversee architecture, planning, demolition, contraction management, etc. – has proven a successful avenue for obtaining E-2 visas. In theory, forming a management company that manages multiple properties and employs superintendents, maintenance personnel, leasing personnel, etc. reporting to the primary E-2 may also form the basis of an E-2 application, though the outcome would be dependent on the facts of the specific case.