Date of Decision: July 1, 2021
Service Center: Texas Service Center
Form Type: Form I-140
Case Type: EB-2 National Interest Waiver (NIW)
Field of Expertise: Financial Management
Petitioner Information
Profession: Financial Manager
Field: Financial Planning, Investment, and Cryptocurrency
Nationality: Not Specified
Summary of Decision
Initial Decision: Denied
Appeal Outcome: Dismissed
Evidentiary Criteria Analysis
Criteria Met:
- Substantial Merit: The petitioner demonstrated that the proposed endeavor in financial management and investment had substantial merit. His work in financial planning and cryptocurrency was acknowledged to have significant potential for positive economic impact.
Criteria Not Met:
- National Importance: The petitioner failed to demonstrate that the proposed endeavor had national importance. Despite the significance of the financial services industry, the petitioner did not provide sufficient evidence that his work would have a broad impact beyond his immediate clients and employers.
- Well-Positioned to Advance the Proposed Endeavor: The petitioner did not sufficiently establish that he was well-positioned to advance his proposed endeavor. Although he presented evidence of his expertise and previous success in Brazil, he did not demonstrate how his skills and plan would translate into a substantial impact in the U.S.
- Beneficial to the United States to Waive the Requirements of the Labor Certification Process: The petitioner did not provide convincing evidence that waiving the labor certification requirement would benefit the United States. His claims of economic impact and job creation were not substantiated with specific projections or detailed plans.
Key Points from the Decision
Proposed Endeavor:
The petitioner proposed to continue his work in financial management and investment, with a focus on advising U.S. companies on growth strategies and exploring cryptocurrency arbitrage operations in North and Latin America.
Substantial Merit and National Importance:
While the petitioner’s work in financial management was recognized for its merit, it did not meet the threshold for national importance. The evidence did not demonstrate that his proposed endeavor would have a broad impact on the U.S. economy or financial sector.
On balance, it would be beneficial to the United States to waive the requirements of the Labor Certification process:
The petitioner argued that his work in financial planning and cryptocurrency would benefit the U.S. However, the evidence provided did not adequately support the claim that his contributions were substantial enough to warrant waiving the labor certification process.
Supporting Evidence:
The petitioner submitted his curriculum vitae, professional plan, evidence of past success, and letters of support. However, these documents did not sufficiently demonstrate the national importance of his proposed endeavor or his position to advance it significantly.
Inconsistencies in Proposed Endeavor:
The petitioner’s initial focus on financial management shifted to cryptocurrency in response to a request for evidence, which introduced inconsistencies in his proposed endeavor. This shift in focus raised questions about the feasibility and impact of his plans.
Supporting Documentation
Letters of Intent:
Not applicable.
Business Plan:
Not provided or summarized in the decision.
Advisory Letter:
Provided but not sufficiently detailed to support the claim of national importance.
Any Other Supporting Documentation:
Included letters from colleagues and professionals, praising his work but not adequately demonstrating his significant impact in the field.
Conclusion
Final Determination: The appeal was dismissed.
Reasoning: The petitioner did not meet the criteria for demonstrating that his proposed endeavor had national importance or that he was well-positioned to advance it. Additionally, he failed to show that waiving the labor certification requirement would benefit the United States.
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