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The Importance of a Professional Business Plan in the Immigration Visa Process

The Importance of a Professional Business Plan in the Immigration Visa Process. Presenter: Lauren A. Cohen, Esq. . Traditional vs. Visa Business Plan (E/L). When Is a Business Plan Required?. Most E/L cases.

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The Importance of a Professional Business Plan in the Immigration Visa Process

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  1. The Importance of a Professional Business Planin the Immigration Visa Process Presenter: Lauren A. Cohen, Esq.

  2. Traditional vs. Visa Business Plan (E/L)

  3. When Is a Business Plan Required? • Most E/L cases. • In E cases, specific Business Plan requirements and scope are often dictated by the Consulate which will process the Visa (refer to Consulate’s website) • In L cases, the scope of the Business Plan depends on if it is a “new office L” or a renewal • A strong Business Plan is often the best way to AVOID a dreaded RFE, which can be costly and time-consuming AND can result in irate clients

  4. General Characteristics of a Strong Business Plan • Demonstrates Legitimacy of Business • Describes Business and Business Model • Details Products or Services Offered • Lays out Goals & Intentions for Success • Includes Personnel Plans & Organizational Charts • Sets out Economic Impact & Other Benefits • Clarifies Future Plans

  5. E-1/E-2 Business Plan Specifics • Show that investment (E-2) or trade (E-1) will be substantial • (E-2) Demonstrate that the investment is NOT MARGINAL (E-2) by clarifying that it will see returns that will go beyond supporting beneficiary & family • (E-1) Provide details regarding other possible trading partners/suppliers from home country to replace principal trading partner if needed so as to ensure status can be retained • (E-2) Prepare detailed market analysis and marketing plan to show that company is likely to succeed • (Both) Outline how investor/beneficiary will fill a critical executive role and be involved in the entity’s development and direction

  6. H-1B Business Plans • Particularly important in a start-up business • Augments weaker cases • Adds credibility to arguments • Focus is on prospective BENEFICIARY to a greater extent than in other visa business plans • Can make the difference between APPROVAL vs. DENIAL

  7. Specific L-1 Business Plan Requirements • (L-1A) Prove that entity will be doing (viable) business in U.S. + at least one other country throughout duration of term of Visa • (L-1A) Outline relationship of transferee to foreign company • (L-1A) Provide details regarding qualifications of intra-company transferee as an Executive or Manager • (L-1A) Details of relationship between foreign entity & U.S. entity • (L-1A) Evidence of sufficient physical space to house U.S. offices • (L-1A) Should show that beneficiary will ONLY perform executive/managerial functions by end of first year of U.S. operations • (L-1B) Detailed proof of beneficiary’s specialized knowledge • (Both) Analysis of beneficiary’s background & planned role

  8. NIW Strategic Plan Options • A Strategic Plan is strongly recommended for: • “non-traditional” cases, such as • extraordinary entrepreneurs with proven track record of success that needs to be highlighted • high-tech “superstars” that bring a wealth of knowledge and experience to a new or existing company that • One key feature of these Strategic Plans is to add credibility to the case and demonstrate that the Waiver applicant has skills and knowledge that will have some level of impact on the national landscape, etc.

  9. EB-5 Business Plan Requirements • Comprehensive Business Plans are mandatory in ALL EB-5 cases. • The governing case in this area was heard in 1998, commonly known as Matter of Ho, in which USCIS determined that: • “Most importantly, the Business Plan must be credible.” EB-5 Business Plans should specifically include: • Business Description • Business Structure • Marketing Plan • Personnel Experience. • Competitive Analysis • 6. Required Licenses & Permits • 7. Staffing Timetable for Hiring • Job Descriptions • Budget & Financial Projections

  10. Strategies to Avoid RFE’s • Discourage clients from using their own business plans • Don’t try to write business plans for your clients • Retain the services of a professional business plan company • Have projections prepared by financial professional with knowledge of the Visa requirements

  11. Strategies to Avoid RFE’s (cont’d) • Don’t cut corners or you and your client will end up spending more time and $$ to respond to an RFE • Ensure that your client receives the best possible complete package of services – don’t stop short with the legal petition • Use a team of attorneys and professionals that knows what USCIS wants and can help you to get Visas for your clients • Make sure that ALL business plans are CREDIBLE, especially in an EB-5 context

  12. Attendee Questions?? Are there questions on any of the immigrant or non-immigrant visa issues covered in today’s presentation?

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