Having a business plan1 is really important when applying for (at least) two of the most common business Visas, in connection with the foreign company’s internationalization process: E and L Visas.
Here is a bullet point list, which we do not expect to be exhaustive, but merely indicative of the main reasons why it is so important:
- to demonstrate the ” viability ” of the company, namely the fact that the U.S. company (whether it is a subsidiary, parent , or a sister company of the foreign company) is an existing business, and is autonomously capable of producing wealth;
- to demonstrate that the financial requirements set out in each Visa category (for example, a substantial investment for the E – Investor’s Visa) has been satisfied;
- to explain in detail what the business consists of, and what are the plans of development in the short, medium and long term , including but not limited to the ability to hire U.S. personnel;
- to provide details about the employees (employees chart) and to describe the job position(s) of those employee(s) applying for a Visa (something quite different from a simple CV, to be attached to the Visa application, separately);
- to describe the company’s sources of financing, cash flows, and financial projections;
- when the company is submitting a request for renewal, a business plan shall provide the immigration officers with a detail map to prove that the company has actually followed the guidelines outlined therein.
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