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August 5, 2022, 6:06 pm 0

How to write a professional business plan for EB5, Perm and other visas

Before getting into the details of a USCIS EB5 Business Plan or the requirement of a PERM Business Plan, let me briefly explain what these business plans actually mean. A EB5 is an investor visa for which a formal application needs to be made to the USCIS outlining the investment plan. A comprehensive business plan is required for the purpose. A PERM application is made by US companies when they want to hire foreign resources when resources with such skill sets are not easy to find in the US market. Here again the companies that want to apply for the application have to submit a comprehensive business plan for the purpose to the USCIS once the permanent labor certification application has been approved by the DOL.

When writing a EB5 business plan the focus should be on the following-

·         Economic Impact- In this section, the plan should highlight the number of jobs that will be created by the initiative. A EB5 visa often involves foreigners making investments in US businesses that will help to generate employment in the local area. If an investor wants to invest the minimum amount of $ 500,000 then the plan should clearly forecast the number of jobs that will be created and the positive economic impact in the local area.

 ·         Financial Projections – The financial projections of an EB 5 plan is one of the most important sections that needs to be well addressed. Whether the investment is for a aircraft maintenance company or a restaurant, the projections should be accurate and display competency on part of the investor.

 ·         Required Documentation - Crafting a successful EB-5 business plan requires professional execution and careful preparation. Still, the EB-5 investment industry has never been more promising. Since the minimum investment amounts were lowered on June 22, 2021, foreign nationals can now make a direct EB-5 investment at only $500,000. The forms and documentation requirements include proof of investments, the proof of the existence of the company, job preservation apart from the various forms such as Form I – 526, DS-260 etc.

 

The PERM Business Plan is submitted by employers who want to hire foreign resources for skills that are not adequately available in the United States.  The business plan will include all standard sections but special focus will be on the requirements to hiring foreign employees, their skill sets, how will it benefit the US economy, opportunities for the employees to be hired etc.  

Both these classes of business plans are extensive documents that should provide comprehensive details of the business plan. The business plans that we work on easily runs into 100 + pages including the Annexure. 

The business plan should include the NAICS Code and categories in which the company is providing its services and the OES/SOC Code and Title. There should be a clear explanation on which country the employees will be hired, background verification and recruitment details, details of their deployment in the US and their precise roles and responsibilities.

If I take an example for a software solutions company that wants to hire foreign workers in the United States it has to define the skills for which they want to recruit the workers.  Skills which may be difficult to find such as DevOps, Data Science or Cloud Computing courses will be relatively easier for approval rather than skills like Java or SQL which are found in abundance. Therefore, it is advisable that companies do a thorough due diligence before they decide to go for foreign workers. The entire process takes time and investment in terms of immigration lawyer, consultancy and processing fees. Also the employer has to bear the travel costs for the employee that is being hired.  

Apart from EB5 and PERM application there are a number of visas that require a Business Plan. These include the E-1 Treaty Trader Visa, the E-2 Investor Visa and the L-1 Intracompany Visa. No matter which visa you are applying for you will need to present a plan that includes the Nature of Business, Market Analysis, regulatory requirements (Permits and Licenses), business processes, Marketing Strategy, organization structure, potential to create jobs and income projections. If all these sections are included and you have a genuine business plan there are high chances that your business plan will be accepted.

If you want to create a business plan for uscis eb 5 application , PERM application or any other visa or funding requirements please connect with us at info@intelligentq.co.in.  We will provide you a professional  plan in the correct format. 


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