What does a Business Plan for an E-2 visa petition need to include?
The E2 visa program allows certain entrepreneurs to enter the U.S. to work in the United States as non-immigrant business investors. An E-2 visa requires that the entrepreneur invest a substantial amount of money in a new or existing U.S. business.
In order to be eligible for an E-2 visa, the entrepreneur must be from a country with a treaty of commerce and navigation with the United States or a country designated by Congress as eligible for participation in the E-2 nonimmigrant visa program. A list of the current treaty countries can be found here.
Most successful E-2 visa petitions include a robust and detailed business plan. The Business Plan needs to contain content specifically tailored for the E-2 petition, including solid financial projections and goals, details about the unique strengths of the company, and an explanation how the company will benefit the U.S. economy. The business plan should be easy for the adjudicating officer to follow - keep in mind that the officer is likely not an expert in your industry.
Specifically, a business plan submitted with a E-2 visa petition should contain the following:
An Executive Summary stating clearly what the business is, how much has been invested in it, how will the business succeed, and what will be the benefit for the United States in terms of jobs created and taxes generated by the business.
A detailed description of the business and its operations. This should include information regarding the company's location, including the square footage, whether that area would be sufficient to allow for the hiring of additional employees, and whether or not the location has been purchased by the company or leased.
A description of the ownership structure and management of the company, with special focus on the role of the investor(s) in the business.
A detailed market analysis. This should generally describe the market (i.e size of market, current trends, market forecast) that the company is involved with.
A description of the company's competitive advantages (i.e. A highly qualified staff, a new technology, a unique marketing strategy or a prime location);
A detailed operating plan and plan for growth (for at least 3 years);
An explanation of what kind of marketing the company will undertake, and what amount will be spent on marketing;
A summary of the investments made into the company. The business plan should specifically indicate the total amount invested and the total amount already spent, and note any funds spent from the investor’s personal account on behalf of the company.
A detailed personnel plan. This plan should be as detailed as possible, especially regarding specific duties of the current positions and the positions that will be added as the company grows.
A detailed management plan. This plan should include all current and future key management personnel, including the E2 investor(s). The management team's employment history and education level should be discussed, with focus on how they are qualified for the position within the company. The reviewing officer should be able to understand clearly from this plan how the company will benefit the U.S. in terms of new job creation and generating payroll tax.
Detailed financial projections. These projections should describe how the E-2 business will be profitable in its first few years of operation by providing a realistic sales forecast, a pro-forma profit and loss statement, a pro-forma balance sheet and a calculation of the taxes the company is expected to generate. This section of the plan should make it clear to the officer that the company will be able to generate profit and grow without bank loans and further private equity financing.
If you need guidance in drafting your business plan, we offer consultations and drafting services for business plans used for E-2 visa petitions.
