A Step By Step Guide to Writing Your EB-5 Business Plan
An EB-5 is a type of immigration visa that provides a way for eligible immigrant investors to become “green card” holders, or permanent US citizens. It was created by Congress in 1990 as a means to stimulate the US economy through job creation and capital investment by foreign investors. It is one of the five employment-based, or EB, preference programs offered by the US.
From the 10,000 visas authorized by the Immigration and Nationality Act annually, around 3,000 are set aside for immigrants and their eligible family members, who invest in a new commercial enterprise in targeted employment areas (TEA) like rural areas and areas with high unemployment.
Upon admission to the US, immigrant investors and their families receive conditional permanent resident status for a two-year period. These restrictions are removed after applicable requirements are satisfied.
Do you need a business plan for an EB-5 visa application?
Unlike the E-2 visa that does not specify the need for a business plan, the US Citizenship and Immigration Services (USCIS) is clear on the need for a “comprehensive” and “credible” business plan. According to the USCIS, a comprehensive plan should contain a description of the business, its products or services, and its objectives. Moreover, it lays out the sections that should be included in the plan, which include a market analysis, competitive analysis, marketing strategy, organizational structure, including its personnel’s background and staffing requirements, and the financial projections. The agency also requires to list all permits and licenses obtained by the company. It is not advisable to put little effort in a business plan intended for an EB-5 application as USCIS warns that its officers will review the plan in its totality.What you should include in your EB-5 business plan
Based on what USCIS’s requirements, your EB-5 business plan should contain the following sections:- Executive Summary
- Company Analysis
- Industry Analysis
- Market Analysis
- Competitive Analysis
- Marketing Plan
- Operations Plan
- Financial Plan