The importance of having a Business Plan

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.

Notes

  1. The main purpose of the present document is to provide educational information, and in no way its content shall be considered as legal advice. THINKINLAW makes no representation or warranty as to the accuracy or reliability of any advice, opinion, statement or other information displayed on this document. Therefore, reliance upon any such opinion, advice, statement, or other information shall be at your own risk. This information is not intended to create, and receipt of it does not constitute, a lawyer-client relationship. You should not act upon this information without seeking advice from a lawyer licensed in your own state or country. Copyright © 2013 Thinkinlaw, LLC. Permission is granted to make and distribute, without any charge, copies of this entire document, provided that such copies are complete and unaltered and identify Thinkinlaw, LLC as its author. All other rights are reserved.