The EB-5 program allows eligible foreign nationals to receive lawful permanent status in the US upon investing a minimum capital amount and create or maintain ten full-time jobs for qualified US workers. In this article, you will discover the fundamentals of an EB-5 visa business plan.
Business Plan for EB 5 Visa – The Fundamentals
An executive summary is a concise, accurate overview of a longer report or business proposal. This section must be a single page summary to disclose:
- Which type of business activities the company is engaged
- The advantages of the business over its competitors
- A short assessment of the opportunities in the industry and niche of the proposed enterprise
- The details of the EB-5 investment
- How the company will help the US government to create jobs for US workers
One of the key elements in any EB-5 business plan is the Company Analysis. In this section, applicants must provide a detailed description of the proposed enterprise, its products or services, and the project’s business goals.
Instead of summarizing information, this section requires a thorough description of the company’s history, business model, value proposition, mission, and growth/expansion plans.
It is crucial to consult with an expert business immigration attorney to explain why you need an EB-5 visa and how your management may result in further growth and profitability.
An EB-5 business plan must demonstrate the viability of the business to the United States Citizenship and Immigration Services (USCIS). In this section, it is essential to include detailed information about target markets, customers, and the business strategy used to maintain competitiveness.
When drafting this section, make sure to divide it into three sections respectively focused on the business Industry, Market, and Competitive Analyses. It is vital to demonstrate the proposed enterprise’s potential to succeed in the US economy, based on solid statistics, indicators, and industry/market trends.
Without solid market research, an EB-5 business plan will not convince USCIS officers that it is a feasible business project with growth potential.
A proper EB-5 business plan must have a section entirely dedicated to the project’s marketing plan. In this section, the USCIS requires applicants to discuss the proposed enterprise’s marketing strategies, pricing, advertising, and servicing.
No EB-5 company may function properly without a solid operational plan. In the business plan, applicants must detail the business’s organizational structure and the experience of its personnel. This section must identify and explain:
- The company’s staffing requirements
- Detailed job descriptions for all existing positions
- Management team
- Advisory group
- Key employees
- Daily operational procedures
- Equipment used in the company’s operations
- A description of the working environment in the proposed business
Applicants must pay attention to the financial aspect of the proposed EB-5 enterprise when drafting the business plan. It is crucial to include detailed sales, cost, and income projections within a five-year financial plan.
USCIS officers need a realistic view of EB-5 projects to ensure the business’s viability and estimate its financial future. In this section, applicants must include profit and loss projections, cash flow projections, projected balance sheets, and a breakeven forecast.