dismissed EB-2 NIW Case: Finance

U.S. Citizenship 
and Immigration 
Services 
Non-Precedent Decision of the
Administrative Appeals Office 
Date : AUG. 1, 2023 In Re: 27442409 
Appeal of Texas Service Center Decision 
Form 1-140, Immigrant Petition for Alien Workers (National Interest Waiver) 
The Petitioner, an entrepreneur in the field of finance, seeks employment-based second preference 
(EB-2) immigrant classification as a member of the professions holding an advanced degree as well 
as a national interest waiver of the job offer requirement attached to this classification. See 
Immigration and Nationality Act (the Act) section 203(b )(2), 8 U.S.C. § 1153(b )(2). 
The Director of the Texas Service Center denied the petition, concluding that the record did not 
establish that the Petitioner is eligible for or otherwise merits a national interest waiver as a matter of 
discretion . The matter is now before us on appeal. 8 C.F.R . § 103.3. On appeal, the Petitioner 
contends that the Director did not apply the proper standard of proof in his case, instead imposing a 
stricter standard, and erroneously applied the law to his detriment. 
The Petitioner bears the burden of proof to demonstrate eligibility by a preponderance of the evidence. 
Matter ofChawathe, 25 l&N Dec. 369, 375-76 (AAO 2010). We review the questions in this matter 
de novo. Matter of Christo 's, Inc., 26 I&N Dec. 537, 537 n.2 (AAO 2015). Upon de novo review, 
we will dismiss the appeal. 
I. LAW 
To establish eligibility for a national interest waiver, a petitioner must first demonstrate qualification 
for the underlying EB-2 visa classification as either an advanced degree professional or an individual 
of exceptional ability in the sciences , arts, or business. Section 203(b )(2)(B)(i) of the Act. 
"Advanced degree" means any U.S. academic or professional degree or a foreign equivalent degree 
above that of baccalaureate . 8 C.F.R. § 204 .5(k)(2). A U.S . baccalaureate degree or a foreign 
equivalent degree followed by five years of progressive experience in the specialty shall be considered 
the equivalent of a master's degree. Id. 
"Profession" means one of the occupations listed in section 101(a)(32) of the Act, 8 U.S.C. § 
1101(a)(32), 1 as well as any occupation for which a U.S. baccalaureate degree or its foreign equivalent 
is the minimum requirement for entry into the occupation. 8 C.F.R. § 204.5(k)(2). 
Once a petitioner demonstrates eligibility as either a member of the professions holding an advanced 
degree or an individual of exceptional ability, they must then establish that they merit a discretionary 
waiver of the job offer requirement "in the national interest." Section 203(b)(2)(B)(i) of the Act. 
While neither the statute nor the pertinent regulations define the term "national interest," Matter of 
Dhanasar, 26 I&N Dec. 884, 889 (AAO 2016), provides the framework for adjudicating national 
interest waiver petitions. Dhanasar states that U.S. Citizenship and Immigration Services (USCIS) 
may, as matter of discretion 2, grant a national interest waiver if the petitioner demonstrates that: 
• The proposed endeavor has both substantial merit and national importance; 
• The individual is well-positioned to advance their proposed endeavor; and 
• On balance, waiving the job offer requirement would benefit the United States. 
II. ANALYSIS 
The Petitioner proposed to work in the United States as an entrepreneur in the field of finance. He 
holds a bachelor's degree in business administration from He has worked 
as the managing partner of.__ ___________ ____. a company that provides financial and 
strate ic advisor services, since 2016. He worked as an executive director and a partner ofl~-~ 
a real estate investment com an from 2013 to 2018. He worked 
as the director and a partner of~-~-------------~, a company that provides 
advisory and asset management services, from 2010 to 2013. He worked as the senior vice president, 
the managing director, and a portfolio manager of.__ ____________ _. from 2007 to 
2010. The Director determined that the Petitioner is eligible for the EB-2 classification as a member 
of the professions holding an advanced degree based on his combined education and experience, and 
we agree. 
The remaining issue on appeal is whether the Petitioner is eligible or otherwise merits a waiver of that 
classification's job offer requirement. We conclude that he is not. While we may not address each 
piece of evidence individually, we have reviewed and considered each one. 
The Director determined that the Petitioner's proposed endeavor has both substantial merit and 
national importance. But the Director determined that the Petitioner has not established that he is well 
positioned to advance the proposed endeavor and that, on balance, it would be beneficial to the United 
States to waive the requirements of a job offer and thus of a labor certification. 
On appeal, the Petitioner contends that the Director did not apply the proper standard of proof in this 
case, instead imposing a stricter standard, and erroneously applied the law to his detriment. 
1 Profession shall include, but not be limited to, architects, engineers, lawyers, physicians, surgeons, and teachers in 
elementary or secondary schools, colleges, academics, or seminaries. Section 101(a)(32) of the Act. 
2 See also Poursina v. USC1S. 936 F.3d 868 (9th Cir. 2019) (finding USCIS' decision to grant or deny a national interest 
waiver to be discretionary in nature). 
2 
Except where a different standard is specified by law, a petitioner must prove eligibility for the 
requested immigration benefit by a preponderance of the evidence. Matter ofChawathe, 25 I&N Dec. 
at 375-76. Under the preponderance of the evidence standard, the evidence must demonstrate that the 
petitioner's claim is "probably true." Id. at 376. We will examine each piece of evidence for 
relevance, probative value, and credibility, both individually and within the context of the totality of 
the evidence, to determine whether the fact to be proven is probably true. In this case, we have 
reviewed each piece of evidence, both individually and within the context of the totality of the 
evidence, and conclude that the Petitioner has not established by a preponderance of the evidence the 
national importance of his proposed endeavor for the reasons we will discuss below. 
The Petitioner indicated that he intends to work in the United States as a financial consultant, financial 
structurer, and an entrepreneur in the field of finance. 3 The Petitioner further asserted he wr help I 
individuals organize their finance and learn how to budget and invest through his company,
I I by providing budget and investment courses and training to individuals. 4 The 
Petitioner also stated that he will help companies optimize their capital structure, raise funds, 
restructure, and reduce debt through his company by performing detailed financial analysis and 
financial models and creating financial strategies for companies. 5 
The first prong of the Dhanasar analytical framework, substantial merit and national importance, 
focuses on the specific endeavor that the individual proposes to undertake. Dhanasar, 26 I&N Dec. 
at 889. The endeavor's merit may be demonstrated in a range of areas, such as business, 
entrepreneurialism, science, technology, culture, health, or education. Id. For example, endeavors 
related to research, pure science, and the furtherance of human knowledge may qualify. Id. Here, we 
agree with the Director that the Petitioner's proposed endeavor to work as an entrepreneur in the field 
of finance to help individuals organize their finance and learn how to budget and invest and help 
companies optimize their capital structure, raise funds, restructure, and reduce debt has substantial 
merit. 
In determining whether the proposed endeavor has national importance, we consider its potential 
prospective impact. Dhanasar, 26 I&N Dec. at 889. An undertaking may have national importance, 
for example, because it has national or even global implications within a particular field, such as those 
resulting from certain improved manufacturing processes or medical advances. Id. We look for 
broader implications. Id. An endeavor that has significant potential to employ U.S. workers or has 
other substantial positive economic effects, particularly in an economically depressed area, for 
instance, may well be understood to have national importance. Id. at 890. 
The Petitioner contended that his proposed endeavor is national in scope and his professional activities 
relate to a matter of national importance and impact because they generate substantial ripple effects 
upon key commercial and business activities on behalf of the United States, serving the business 
development and business functions of U.S. companies. 6 He asserted that he will serve individuals 
and small business companies by providing financial training and advisory services as a business 
3 See the Petitioner's professional plan and statement, at 1, dated June 28, 2022. 
4 See id. at 1-2. 
5 See id. 
6 See the Petitioner's brief in response to a request for evidence (RFE), dated October 11, 2022. 
3 
administrator. 7 He also asserted that his company will impact the financial training and advisory 
industry in the United States with a total wages payment of $1.5 million by the fourth year of operation, 
generating 10 jobs in underutilized areas, improving the wages and working conditions for U.S. 
workers, and helping the local community bring investments to the region. 8 He further asserted that 
he would implement a mentoring program for underprivileged youth from the local community in 
California. 9 The Petitioner also asserted that he would educate Americans on the importance of 
business and finance through his financial advisory and training company. 10 
With regard to the Petitioner's assertions that he plans to provide budget and investment courses and 
training to individuals, implement a mentoring program for underprivileged youth, and educate 
Americans on the importance of business and finance through his financial advisory and training 
company, the record does not show that this undertaking has broader implications for his field, as 
opposed to being limited to those who participate in his training sessions or mentoring program. While 
the Petitioner's plans to provide training services and mentoring program have merit, the record does 
not sufficiently demonstrate that his instructional or mentoring activities offer benefits that extend 
beyond his trainees, students, or mentees to impact the field of finance or the financial training and 
advisory industry more broadly. Likewise, in Dhanasar, we determined that the petitioner's teaching 
activities did not rise to the level of having national importance because they would not impact his 
field more broadly. Dhanasar, 26 I&N Dec. at 893. 
The Petitioner submitted articles, which discuss the important role that business development 
professionals play in every type of business. He contended that these articles demonstrate the national 
importance of his proposed endeavor due to its economic implications, which affect nationwide 
activities and business productivity. 11 The Petitioner also submitted articles, which indicate that 
business development and sales professionals are key to companies' financial stability. He contended 
that he would create value for U.S. organizations by providing objective advice regarding optimization 
of business processes and implementing effective business development, sales, and marketing 
techniques. 12 In addition, the Petitioner submitted articles, which discuss the contribution of 
immigrants to human and physical capital formation, entrepreneurship, and innovation, the 
contribution of foreign entrepreneurs to the U.S. economy, and the critical role immigrant 
entrepreneurs play in America's small business environment. He contended that he is an essential 
component of the U.S. economic market; he represents American business values; his work will 
translate into profitable business; his work incentivizes national economic pattens; and his proposed 
endeavor represents American interests. 13 The Petitioner submitted articles, which discuss the 
importance of small businesses in the U.S. economy. He contended that he can advise corporations 
about business development, sales expansion, and effective market strategies and initiatives. 14 
7 See id. 
8 See id. 
9 See id. 
10 See id. 
11 See id. 
12 See id. 
13 See id. 
14 See id. 
4 
While the industry reports and articles support the importance of business development and sales 
professionals, entrepreneurship, and small businesses in the U.S. economy, the relevant question is 
not the importance of the industry or profession in which the individual will work; instead, we focus 
on the specific endeavor that the foreign national proposes to undertake. See Dhanasar, 26 I&N 
Dec. at 889. Here, the Petitioner must demonstrate by a preponderance of the evidence that the specific 
endeavor that he proposed to undertake - establishing a financial advisory and training company - is 
of national importance. 
While we acknowledge the Petitioner's claims, he has not provided sufficient evidence to substantiate 
them. For example, he has not provided sufficient documentary evidence that his proposed endeavor 
as an entrepreneur in the field of finance would impact the field of finance or the financial training 
and advisory industry more broadly rather than benefiting his own company and its clients. The record 
does not contain sufficient information and evidence to explain how his job duties to provide budget 
and investment courses and training to individuals and perform detailed financial analysis and 
financial models and create financial strategies for companies will have broader implications within a 
particular field. Without sufficient documentary evidence of their broader impact, the Petitioner's 
proposed employment does not meet the national importance element of the first prong of the 
Dhanasar framework. 
As for the economic value and job creation that the Petitioner asserts his company will offer, the 
business plan of the Petitioner's company includes projections of establishing three business units in 
California and Florida, offering 11 business consulting services for companies and 5,150 online 
financial courses and 862 onsite financial courses for individuals, $1.5 million in total wages 
payments, hiring 10 employees, and $6.5 million in total revenue by the fourth year of operation. 
However, the business plan does not provide sufficient details of the basis for these projections or 
adequately explain how this revenue and staffing targets will be realized. Moreover, even if all the 
projections in the business plan were realized, the record lacks sufficient evidence demonstrating that 
the Petitioner's business will have an impact on the field of finance, the financial training and advisory 
industry, or the U.S. economy at a level commensurate with national importance. 
Furthermore, the Petitioner has not offered sufficient evidence that his company will employ a 
significant population of workers in an economically depressed area or that his endeavor would offer 
a particular U.S. region or its population a substantial economic benefit through employment levels or 
business activity. Nor has the Petitioner demonstrated that any increase in his company's revenue 
stands to substantially affect economic activity regionally or nationally. The Petitioner has not 
otherwise provided sufficient information and evidence to demonstrate the prospective impact of his 
proposed endeavor rises to the level of national importance. Accordingly, the record does not 
sufficiently demonstrate the Petitioner's proposed endeavor is of national importance. 
On appeal, the Petitioner contends that he is well positioned to advance the proposed endeavor and 
that, on balance, it would be beneficiary to the United States to waive the requirements of a job offer 
and thus of a labor certification. However, because the documentation in the record does not establish 
by a preponderance of the evidence the national importance of his proposed endeavor as required by the 
first prong of the Dhanasar precedent decision, the Petitioner has not demonstrated eligibility for a 
national interest waiver. Therefore, further analysis of his eligibility under the second and third prongs 
5 
outlined in Dhanasar would serve no meaningful purpose. We will reserve these issues for future 
consideration should the need arise. 15 
III. CONCLUSION 
Although the Petitioner has shown that he is a member of the professions holding an advanced degree 
and that his proposed endeavor to work in the United States as an entrepreneur in the field of finance 
has substantial merit, he has not shown by a preponderance of the evidence that his proposed endeavor 
has national importance. Accordingly, the Petitioner has not established by a preponderance of the 
evidence that he is eligible for or otherwise merits a national interest waiver as a matter of discretion. 
ORDER: The appeal is dismissed. 
15 See INS v. Bagamasbad. 429 U.S. 24. 25 (1976) ("courts and agencies are not required to make findings on issues the 
decision of which is unnecessary to the results they reach"); see also Matter of L-A-C-, 26 l&N Dec. 516. 526 n.7 (BIA 
2015) ( declining to reach alternate issues on appeal where an applicant is otherwise ineligible). 
6