People sometimes wonder why entrepreneurs would need us to write their immigration business plans for them.
After all, they surely have some experience writing business plans, and they know their enterprise better than anyone else. So why hire someone?
The reason is that there are many crucial differences between immigration business plans and other types of business plans.
Entrepreneurs and business owners need someone who understands these differences and can effectively communicate with the audience that reviews immigration business plans to enhance the chances of success for their business visa application.
Let’s look at some of the main differences between immigration business plans and other types of business plans.
Audience
The audience for immigration plans is immigration and consular officers who are typically not business savvy. Conversely, other business plans have audiences including investors, bankers, and business people who are well-versed in business.
Furthermore, there is limited interaction between the applicant and the immigration or consular officer after the plan is submitted. Therefore, providing all relevant information in the immigration business plan offers the best chance for success.
When a visa petition is processed in the U.S. by the USCIS, and an immigration officer reviews the immigration business plan, there will be no in-person or phone interaction with the applicant. The only interaction will be via a written response from the officer reviewing the case.
On the other hand, when a visa petition is processed in a U.S. consulate, and a consular officer reviews the business plan, there will be minimal interaction with the applicant. AND it will be limited to the question and comments that the officer has during the visa interview, which typically lasts 5-10 minutes!
On the flipside, submitters of other business plans enjoy the luxury of more interaction with their audiences, such as phone calls or meetings to discuss the project further.
Content and Narrative
Immigration business plans are composed 85 percent by narrative and 15 percent by basic financial information, which is the polar opposite of other business plans. These other plans are 85 percent detailed financials and just 15 percent basic narrative.
Furthermore, immigration business plans need to contain a comprehensive and detailed narrative, while other business plans use bullet points to communicate a basic description.
What Is Included?
An immigration business plan must contain a lot of information that does not go into other business plans. A focus on job creation, the impact on the U.S. economy, a projected organizational chart, marginality, and detailed job duties all need to be included in an immigration business plan.
In addition to containing a basic financial model, the content included in the immigration business plan will vary according to the visa category. The project must also follow all immigration laws and regulations. Also, future investment considerations may not be relevant, depending on the visa category.
Other business plans do not need to include information about these details, nor do they need to follow the same rules and regulations. These plans may utilize future investment opportunities and have a comprehensive financial model.
Criteria to Review Business Plan
Immigration business plans are reviewed based on immigration law and visa adjudication standards. The success of other business plans is determined, on the other hand, by business and finance considerations.
Our team of specialists here at Visa Business Plans develops customized business plans for immigration that clearly and effectively address the items that immigration officers and consular officials are looking for.
Led by an O-1 visa recipient in business and entrepreneurial ventures, a professional that USCIS recognized as an individual with extraordinary abilities in business, we have produced more than 6,000 projects to help entrepreneurs successfully secure their E-2 visas.
If you are thinking about starting a business in the United States or Canada, give us a call today to see how our immigration business plans can help you achieve your goals.
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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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