BUSINESS PLAN WRITING FOR VISAS
Working on an application for one of the following visas: E2, EB5, or L1 visa? If you said yes, then you must also consider the importance of the business plan – a document that details how you intend to run and grow your business. The USCIS, the kings and queens of visa granting, will evaluate the validity of your business plan; they will look closely to see if the new venture will create the required number of jobs over a definite time period.
When applying for a business or employment related visa, you might discover that the terminology is foreign, the process is intricate, and the application is nearly impossible without the assistance of an attorney who specializes in immigration applications.
So, no pressure, right?
Don’t worry. Joorney is here to guide you and put you at ease regarding business plan writing. It is our responsibility to research which documents are required for each visa type. You don’t have to be the expert, that’s our job. You can be confident in Joorney’s skills and knowledge regarding business planning for visas.
KEY QUESTIONS FOR THE BUSINESS PLAN
Before you put the pen to paper/fingers to the keyboard here are some key points to consider before writing your business plan:
How many jobs can your investment create?
Are these jobs sustainable?
How will your investment impact the economy?
In what ways will your business venture be successful?
If you are familiar with your objectives and where they will lead you in the future under an E2, EB5, or L1 visa, then you will be more confident in the creation of the business plan. This also helps Joorney gather information and compile it into an organized, coherent document that will be worthy and more likely to be accepted by meeting USCIS standards. The business plan must be cohesive and clear. You are the chief executive, therefore the USCIS wants you to prove your capability. Joorney will help you present your best business plan.
WHAT THE BUSINESS PLAN ENTAILS
The business plan must demonstrate that the applicant has the requisite skills, talent, background, experience, and resources to successfully start and grow a business that provides real products and/or services, and employs American workers. In short, it must be as professional as you intend the business to be. Make no mistake about it, the business plan must represent the applicant. Joorney is here to help you achieve that goal.
Depending on the visa type, the plan can range from 20-50 pages in length and includes:
- An executive summary
- A company analysis
- A detailed industry analysis
- Market and customer analysis
- A competition analysis
- Operation and fund usage analysis
- A detailed financial report on the business with a projected 5 year income and cash flow statement and balance sheet.
- All EB5 plans must also be Matter of Ho Compliant. *The Business Plan being the most important of all documents in this type of visa application.
WHAT VISAS REQUIRE A BUSINESS PLAN
The following visas require a business plan as part of their application:
- The E-2 Investor Visa allows an individual to enter and work inside of the United States based on an investment he or she will be controlling while inside the United States. This visa must be renewed every other year, but there is no limit to how many times one can renew. The Investment must be substantial. An investor must contribute to the US economy. E-2 Investor visas are available only to treaty nations.
- The EB-5 Visa for Immigrant Investors is a United States visa created by the Immigration Act of 1990. This visa provides a method of obtaining a green card for foreign nationals who invest money in the United States. To obtain the visa, individuals must invest $1,000,000 (or at least $500,000 in a “Targeted Employment Area” – high unemployment or rural area), creating or preserving at least 10 jobs for U.S. workers excluding the investor and their immediate family. The EB-5 program also allows for investment in a Regional Center which is an entity that promotes economic growth and job creation within a geographic region.
- An L-1 Visa is a visa document used to enter the United States for the purpose of working in an L-1 status. It is a non-immigrant visa, and is valid for a relatively short amount of time, generally three years, with a straightforward renewal process that can extend your visa for an additional two years. L-1 visas are available to employees of an international company with offices in the United States and abroad. The visa allows such foreign workers to relocate to the corporation’s US office after having worked abroad for the company for at least one year prior to being granted L-1 status. The US office must be a parent company, child company, or sister company to the foreign company.
- The B-1 Visa for Temporary Business Purposes allows the recipient to negotiate a business contract or arrangement, attend a convention or a seminar, or hold a series of business meetings. Under the terms of this visa the host or employer must provide a business plan as part of the documentation requirements.
- The E-1 Treaty Trader Visa is a non-immigrant visa which allows foreign nationals of a treaty nation to enter into the U.S. and carry out substantial trade. A treaty trader belongs to a nation that maintains a treaty of commerce and navigation or a bilateral agreement with the U.S.
Business plan writing is a vital aspect for these types of visas. You do not want to underestimate its value and credibility. Remember you are not alone in the process. Joorney is here to make sure you deliver the most effective, successful business plan for your visa application.
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