If you are applying as an EB-5 immigrant investor, there are many steps you have to follow to get visa approval. One of these important pieces is the business plan. It’s not your average business plan — it needs to be very comprehensive, covering more information than a traditional plan. Here are some tips on what goes into your EB-5 business plan from our What to Include blog series.
Creating an EB-5 Business Plan
An EB-5 business plan is submitted with EB-5 petitions and need to explain to the USCIS officer reasons why your business will be not just viable, but successful in the U.S. The more detailed the plan, the better the immigration officer can understand why this business should be approved for U.S. operations with you as its investor. EB-5 visa business plans need to professionally present each of the following elements in detail and include any supporting data or documentation available.
Business description: Give the USCIS an overview of the industry, purpose, mission and plans of the proposed business in your description.
When creating a new business (as most EB-5 investors do), investors need to explain the business structure. The structure will have legal, tax and management implications. The three most common for EB-5 investments are:
- limited partnerships
- limited liability companies
Market analysis: EB-5 business plans must include target market analysis and a marketing plan to explain to USCIS the road map for finding and targeting customers.
Personnel plan: Include a personnel plan to explain the experience of management and key personnel and the functions they’ll fulfill.
Competitor analysis: A competitor analysis, including what makes this new business unique and how it will fill any gaps in the market, should be included with all EB-5 plans.
Financial projections: As with other types of business plans, the financial projections, including budgets, sales and costs, need to be explained for a five-year period, showing the source and uses of funds.
Required details: One unique element of these plans is showing that research for all required licenses and permits for operating the business has been done, and you, as the investor, understands what will need to be done to launch the business.
Job creation: EB-5 business plans need to include the job descriptions of each position and the timetable for hiring the 10 new, full-time positions EB-5 visa investors need to create. Show a detailed staffing plan to fulfill the requirement.
Get help from experienced business plan experts who have helped thousands of immigrant investors create business plans that convey their ideas in a professional, clear way to USCIS officials while complying with Matter of Ho. Contact Bargain Business Plan for a free consultation.
Be sure to check out future What to Include blog posts!