That is a transaction-specific decision for commercial and immigration review together. Consider closing conditions, access to funds, regulatory restrictions and who bears the delay costs. Neither an anticipated E-2 approval nor the seller’s willingness to close establishes that the business can begin the regulated activity immediately. Sequence the decision by who is exposed at each step. A seller wants certainty of closing; a lender wants its security; the investor carries the risk that funds become committed to an enterprise that cannot yet trade. Ask counsel to identify which party bears the loss under each ordering before choosing one.
Make the consequences of each sequence explicit
Compare closing first with waiting for a defined regulatory milestone, including how each arrangement affects committed capital and commercial exposure. Obtain written terms rather than relying on an informal promise to refund money. If the investor’s visa process remains pending, identify authorized personnel for lawful interim work and preserve flexibility in personal travel.
Work out what must be true before each step is worth taking. Confirm the regulator's actual ownership-change procedure before signing; establish who may lawfully perform interim work before anyone travels; settle escrow terms in writing before funds move. Status is temporary and tied to the enterprise, so a long pre-opening period spends part of a limited permission on a business that is not yet trading.
Where the delay is open-ended, ask what evidence would allow the file to be made later on stronger facts.