Funds committed to acquire the operating business, including its real property, generally count as invested if they are at risk and the property is used in the enterprise. Funds held as a passive real-estate speculation do not.
Property used in the business counts; property held as property does not
Hypothetical example: a Rothesay couple's purchase price is mostly the land and buildings of the storage facility, with a smaller amount for equipment, goodwill and working capital. Because the real property is the operating asset of the enterprise, the amount paid for it is part of the investment, provided it is irrevocably committed and at risk. The substantiality test compares the amount invested with the total cost of purchasing an established enterprise of this kind, and paying substantially all of it usually satisfies the test.
What does not count is money retained in the couple's accounts, a refundable deposit or a mortgage secured on the facility itself, since the lender rather than the investor bears that risk. The consular application fee for E-2 is set by the State Department, and the couple should also budget for legal review of the purchase, a business plan prepared to consular standards and the cost of the improvements the plan promises.