Yes, potentially. Official guidance says a purchase conditioned on E-2 visa issuance may still be irrevocably committed when the funds are in a binding escrow for release once the visa is issued. Every additional release or refund condition must be reviewed.
The refusal clause is what an adjudicator reads
The escrow itself is not the difficulty; its exact conditions are. Official guidance recognizes a purchase conditioned on E-2 visa issuance as a solid commitment when the purchase funds are held in escrow for release or transfer once that condition is met. The investor should document that the money has left their control, produce the signed purchase and escrow agreements, and show that release follows visa issuance. Other substantive conditions — such as an unresolved financing or licensing contingency — must be analyzed separately because they may leave the investor able to recover the funds for reasons unrelated to the visa decision. Commercial and immigration advisers should review those terms before signature.
Hypothetical example: Selma, a Canadian citizen, plans to acquire a U.S. commercial laundry business. Her first review should test treaty nationality, ownership, the amount committed, the operational plan, and whether the business can generate more than support for her household. Share records settle nationality and control; the purchase agreement and bank trail settle commitment; customer contracts and projections address non-marginality. She must decide before closing whether she will develop and direct the company or appoint a manager while taking a passive role. A commercially attractive purchase can still be unsuitable if the funds remain revocable or the projections rely on unsupported sales.