If you’re an entrepreneur with the desire to live and invest in a business in the United States, there are specific methods to follow in order to successfully obtain your visa. The Employment Based Immigration Fifth Preference, better known as the EB-5, is an attractive option for investors who quality.
An application paired with a flawless EB5 business plan can help individuals access the immigration visa and green card program that can ultimately lead to citizenship. Writing a business plan for USCIS immigration officers is not the easiest. In that case, we’ve put together a step by step guide for writing your business plan.
EB5 Business Plan Requirements
- Minimum investment of $1MM or $500k in a targeted employment area (TEA)
- Investment in new commercial enterprise (NCE) created after 1990 (Regional Center Option created in 1993)
- Investment must create or preserve 10 qualifying jobs
How to Write an EB5 Business Plan
If you meet the requirements for an EB5 visa, you’ll want to construct a professional, complete, and well-written EB5 business plan. Follow this step by step guide for a winning EB5 business plan that will increase your odds of approval.
Answer questions like; who would purchase your product? Who are your competitors? Why does the public need it? What purpose does it serve? Your answers are a vital component for the market analysis so your business will be easily understood by USCIS at first glance. Listing detailed descriptions of the surrounding competition will highlight how you will rise above.
Describe what makes you unique. Be honest about internal conditions that may need improvement such as heavy debt or obsolete equipment. Describe the outside conditions that prove to be an advantage, such as a specialty niche skill. Last but not least, mention the external factors that you have absolutely no control over.
When you take the time to do a comprehensive SWOT analysis, you will be armed with a solid strategy for prioritizing the work that you need to do to grow your business. This will showcase your strengths and weaknesses, and how you can leverage those to take advantage of the opportunities and threats that exist in your market.
Express how you plan to operate to be profitable. Creating jobs one of the most important pieces of the EB5 business plan requirement. Job descriptions are an essential element for USCIS to understand the roles and responsibilities of each job. A compliant business plan needs to demonstrate that each investment will create 10 jobs through a detailed staffing plan, including a clear timetable for employee hiring.
Your business plan must be well-documented with financial projections including sales, costs, budgets, and income over a period of five years. All projections must be based upon generally accepted accounting principles and reasonable business models. USCIS needs to see that you understand what needs to be done.
Writing an EB5 business plan isn’t easy; getting approved for an EB5 visa is even harder. When you undertake the approval process, you are not alone. Partner with Bargain Business Plan for a professional designed business plan backed with USCIS and industry experience.