The purchase price for the contracts, systems and goodwill, plus working capital placed at risk in the business. The seller's consulting fee, the couple's living expenses and any deposit that can be refunded to them do not count.
Separate what is at risk in the enterprise from what is spent around it
Investment means funds committed to the enterprise and exposed to loss if it fails. The price paid for the management contracts, the booking platform, the trade name and the modest equipment is investment. Working capital deposited in the business account to cover payroll and marketing before the winter season is investment once it is actually in the company.
A retainer to an immigration lawyer, the couple's own relocation, a rented house in the ski town and the seller's year of consulting fees are business or personal expenses that sit outside the figure, even if they are necessary. A deposit that the couple can recover if the visa is refused is not at risk unless the escrow terms make the commitment irrevocable in the ways the FAM accepts. Government charges for the visa application are found in the current State Department and USCIS fee tables and are small next to the purchase; budget them anyway, together with translation of the French sale documents.