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With immigration adjudication standards becoming increasingly stringent, now more than ever is key to present a solid business plan when filing investor visas. Read below about 5 common pitfalls to avoid in your immigration business plans:
First impressions count: Just as you want to be well-dressed, clean, and polished for a job interview, you want your business plan to be well-written with perfect grammar. You want to show respect to the reader by providing a professional document that has been edited and proofread to perfection. USCIS will appreciate it.
Inconsistencies: The narrative portion of the business plan must be in perfect synchronicity with the financial portion of the project. It helps to view it as a marriage. Avoid having the narrative tell a story that is not consistent with the financial section of the plan. Inconsistencies, in all their forms, are a major cause for RFEs.
Unrealistic business models: Of course, we are all about positive thinking, but writing about a start-up that will increase its revenues by 50% in the first year of operation is pushing the limits of what is believable. Sometimes there is a valid and verifiable reason to project such growth, but oftentimes, this is an unrealistic goal. Make sure that the growth of the enterprise you are writing about is aligned with industry trends.
Complex narratives: Avoid complex narratives that are hard to digest. Make sure even the most complex business model is written in a way that is user-friendly. You do not want to scare-or even worse, confuse- the USCIS or Consular officer reviewing your case. A strong, well-written business plan makes their job easier!
Plan ahead: Make sure the business plan includes 5-year projections. If you had a crystal ball, what would you see in the future of your company? How will it grow? What specific actions will you need to take in order to achieve that growth? Although in the real world of business, this is completely unpredictable, USCIS and Consular officers expect you to know this. They want to see what your intentions are five years from now. So make sure to plan ahead and lay the groundwork for the future of your business in the business plan.
If you received an RFE, we can still help.
With over 25 years of first-hand business experience, our team has the training and expertise to handle the business portions of the most complex RFEs. As part of our service, we dissect your client's RFE and provide possible routes on how to handle the business side of the response. We then provide attorneys and their clients with a concise, research-backed document that addresses each issue raised by the USCIS in a user-friendly, professional format.
Over 500 attorneys nationwide consult with us on how to best respond to the business portion of their RFEs. Give us a call today at 305.777.0228 or email us at info@visabusinessplans.com and experience the Visa Business Plans difference. Hablamos Español. Falamos Portugues. Parliamo Italiano.
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The information provided in this blog is intended solely for informational purposes. While we strive to offer accurate and up-to-date content, it should not be considered legal advice. Immigration laws and regulations are subject to change, and individual circumstances can vary widely. For personalized guidance and legal advice regarding your specific immigration situation, we strongly recommend consulting with a qualified immigration attorney who can provide you with tailored assistance and ensure compliance with current laws and regulations.
Visa Business Plans is led by Marco Scanu, a certified coach from the University of Miami with a globally-based practice coaching Fortune 1000 company executives, entrepreneurs, as well as professionals in four different continents. Mr. Scanu advises clients on turnaround strategies and crisis management.
Mr. Scanu received a bachelor’s degree in Business Administration (Cum Laude) from the University of Florida and an MBA in Management from Bocconi University in Milan, Italy. Mr. Scanu was also a Visiting Scholar at Michigan State University under the prestigious H. Humphrey Fellowship (Fulbright program) with a focus on Entrepreneurship, Venture Capital, and high-growth enterprises.
At present, Mr. Scanu is the managing partner and CEO at Visa Business Plans, a Miami-based boutique consulting firm providing attorneys and investors with business planning services in the areas of U.S. and Canadian immigration, SBA loans, and others.
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