If you will be applying for a new office L-1 Visa or an E-2 Visa for a new business, you will be required to produce a business plan. A business plan for immigration purposes differs from a traditional business plan to obtain funding from a bank or other business purposes. When making an application for a new office L-1 Visa or E-2 visa for a new investment, make sure your business plan is immigration compliant. We discuss the basic requirements of a business plan for immigration purposes here.
What does a business plan for immigration purposes look like?
Business plans for immigration purposes must contain specific details to meet visa requirements. This is especially important for business plans in support of new office L-1 visa applications and E-2 visa applications based on a new business. The necessary factors for an immigration business plan can be found in the Board of Immigration Appeals decision, Matter of Ho – Business Plan, 9 FAM 4029 TREATY TRADERS INVESTORS AND SPECIALTY OCCUPATIONS – E VISAS., and 9 FAM 40212 U INTRACOMPANY TRANSFEREES – L VISAS. Accordingly, the following should be included in a proper immigration business plan:
- Business Overview – The reviewing immigration officer must be able to understand the business venture. This is a very important factor. If the immigration officer is not able to grasp the concept of your business and the likelihood of success, they could deny your application. Explain in detail what service or product your business provides.
- Proof of Investment or Financial Commitment – Your immigration business plan should detail the investment made or your financial commitment to the success of the US enterprise. In general, the plan should include the source of the funds invested, and financial commitment to guarantee the successful operations of the US enterprise. Depending on the visa type, this should include an estimate of your company’s income in the next three to five years.
- Business Requirements – Your immigration business plan should explain how you have or will meet all necessary requirements to do business in the United States. This means you have secured or will secure all necessary business licensing and/or permits for your business to operate.
- Employment Outlook – One of the main requirements for either the L1 or E2 visa is the present or future capacity of the US enterprise to hire US workers. Your immigration business plan should provide a detailed hiring plan. This includes a projected organizational structure, present and future positions to be filled with detailed job descriptions and wages to be paid. Depending on the visa type projects should look out for three to five years.
- Sufficient Physical Premises – Depending on your business type, your immigration business plan must demonstrate that sufficient physical premises have been secured in the United States to support the successful operations of the US enterprise. This could be a small 200-square-foot office for a consulting firm or a 50,000-square-foot facility for a manufacturing company.
- Market Analysis and Strategy – One of the factors of an L1 or E2 visa is the present or future capacity for success in the marketplace. A properly formatted immigration business plan will include an in-depth market analysis that includes a future outlook for the industry, competitive analysis, financial outlook, growth projections, etc. This includes a description of your target market, business already being performed, current contracts, and future contracts. In addition, your immigration business plan must include a detailed overview of your marketing strategy with the marketing mediums you expect to use along with any supporting marketing materials.
- Ability to Develop and Direct the Enterprise – Your immigration business plan must demonstrate your ability to develop and direct the new enterprise in the United States. This explanation should include any relevant education, experience, and background that positions you to successfully develop and direct the enterprise.
Unless you are experienced with immigration-specific business plans, you should seek the support of a qualified immigration business plan company. There are many companies out there that provide immigration-specific business plans. When handling your L-1 new office or E-2 investment case, we work with experienced immigration business plan writers. Failure to provide a properly executed business plan in support of your immigration application could and often results in a denial.
E Visas for Traders & Investors
Additional Outside Resources
- 9 FAM E Visas: Treaty Traders and Investors
- 9 FAM L1 Visas for Intracompany Transferees
- USCIS: E Visas for Treaty Traders and Investors
- USCIS: L Visas for Intracompany Transferees
- Matter of Ho – Business Plan Requirements
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The US immigration lawyers at Richards and Jurusik Immigration Law have more than 30+ years of experience helping people to invest and do business in the United States under an L-1 visa and E-2 visa status. Read some of our hundreds of 5-star client reviews! Contact us today for an assessment of your legal situation.