Business Planning for L1 Visa
Posted on January 30, 2006 by Warren Wen | Category: Immigration
Business Planning with L Visa Application
n previous article, we introduced how spouses of L visa holders could apply for the work permit after they came to the U.S. We also introduced how L visa holders could find an appropriate school for their accompanying children. For L visa holders who come to the United States to open a new office, a business plan needs to be submitted to the USCIS along with their L visa applications. In this article, we will explain why a business plan is required and how one should prepare it.
Mr. Cai asked:
I own a trading company in China, doing imports and exports. Due to increasing demand from the North American market, I plan to set up a new office in the U.S. to serve customers in North America. And with this plan in mind, I wish to apply for an L1 visa. After reading your previous articles on L visa, I understood that the USCIS has financial requirement for the L-1 visa application. I want to know whether there are any other important documents I need to file together with my L visa application.
Answer:
If foreign investors want to apply for the L-1 visa in order to come to the U.S. to open a new office, they need to incorporate a business entity in the U.S before filing the L visa application. They also need to prove that they have the financial ability to support the business operation in the U.S., and that its business operation in the U.S. is real. As a result, a business plan is needed for the L visa application. A business plan, in general, introduces the company’s current profile, the future business development plan, as well as an implementation plan to achieve its goal. A business plan also needs to provide a comprehensive report on the company’s management, operation, marketing, and etc.
In support of his L visa application, Mr. Cai should include the following items in his business plan:
- Brief introduction of both the parent company and the new company in the U.S.;
- Introduction of the new company’s future development plan;
- Introduction of the product or the service and the detailed market analysis;
- Introduction of the marketing strategy;
- Introduction of the company organization and the management team;
- Future recruitment plan;
- Investment capital and the basic operation cost for the new company.
Preparing a good business plan is never an easy task. Professional service is normally required for a good business plan. Knowing that having a well developed business plan could play an important role in getting an approval on the L visa application, seeking a professional help in this area may be a wise decision.
This article is only for your reference. Please do not apply mechanically to any exact cases. You are welcome to consult our attorneys at Liu & Associates, P.C. For contact information, please click here.