What Is An Immigration Business Plan And Why Do You Need One?

Immigration laws that have now been effective for nearly 7 years require certain non-immigrant visa applications to be accompanied by an immigration business plan. This valuable document is now becoming a necessity in many countries, and as such, you must get one if you really need to visit the country.

Why is this document so important?

An immigration business plan tells the immigration officials whether you will make a positive or negative contribution to the community. It’s filtering mechanism to avoid non-visionary individuals from crossing over to their country. This document should demonstrate your understanding of the community, local market, with recent industrial data.

The difference between traditional and Visa Business Plan

A visabusiness plan is different to a traditional plan that you might create for a startup business or one that is looking to get a loan from a bank or an SBA program. There are certain components in a traditional plan that you would not need to include in an immigration business plan and vice versa.

Immigration business plans need to be more focused on the particular components your non-immigrant visa requires, which will be different depending on whether you are filing for an E2, L1, or EB5 business plan.

The common theme across each of the aforementioned visa categories is that employment of native workers is an important aspect to highlight and detail. In a traditional business plan you would detail current and future staffing levels, but really only in summary format, whereas for E2 or L1 Visa Business Plan, you will need to be more detailed with personnel tables and specific titles and bullet point job descriptions of current and future employees.

Likewise, the person writinga business Plan for E2 Visawould need to include their specific and detailed job description, and show how they are going to manage other managers and staff in an effort to operate and expand the local enterprise.

Duration of visa business plans

Not all traditional business plans require five-year financial projections, in some cases, three years is sufficient enough. However,for a visa business plan, you need to provide a five-year projection that includes balance sheets, profit and loss statements, and cash flow forecasts.

You will need to show the source of the funds to start up and support the business, and if necessary indicate where additional injections of capital may be necessary in the future. This often applies to more seasonal businesses where a higher percentage of their income is derived during certain months of the year.

Wrapping it all up

In summary, Immigration Services are looking for non-immigrant visa applicants to demonstrate to them that the business or franchise they are starting up or purchasing in the new country will be viable, and have the ability to be successful and employ native workers. They want to know that you have done your homework and that the business stands the best chance of success through careful planning. Visit: http://jdcconsultancy.com/

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