E-2 Visa: Matter of Csonka, 17 I&N Dec. 254 (Regional Commissioner 1978)


I. SUMMARY

The applicant is a British national who is in Texas, United States for pleasure purposes but has applied for a reclassification as a treaty investor citing an investment and provided financial statements as proof of the investment.

II. FACTS

  • The applicant has provided an unaudited balance sheet totaling about $26,000 with $20,000 in loans from a local bank.

  • The applicant originally owned less but was eventually decided to own 51% of the stocks issued by the company in which he is investing in.

  • The applicant is deemed responsible for the loan and has used the shares of stocks he owns as collateral

III. LEGAL ANALYSIS

1. Standard for Consideration

22 CFR 41.41 relates specifically to treaty investors and dictates that these investors must have the intent to leave the country should their investment end and that the investment must not be marginal and used to seek residency in the United States.

2. Standard for Denial

The applicant’s offer of financial proof of investment contains interesting connections that do provide for the applicant’s responsibility in the business, the business is characterized as being marginal.

There is no proof that the applicant has brought funds from England to invest in the business as there only seems to be funds from the loans from the local bank.

IV. CONCLUSION

The applicant’s case was dismissed because his investment did not qualify as an investor under the definition defined in 22CR 41.41. His business investment was deemed marginal as there has been substantial losses reported. In addition, the applicant has provided no proof that there are substantial funds brought over from England for the purpose of investing into this business. Since the applicant has failed to prove that he can be classified as an investor under 22CR41.41, his application for a reclassification is denied.

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