15 Jan Difference between an E2 Business Plan and a Regular Business Plan?
A traditional business plan and the business plan you submit for your E2 visa application are not the same document. While the former is written for investors and managers of business, the latter is written for USCIS officers with the purpose of obtaining an E2 immigration visa so that the applicant may legally live and work in the US . As such, the two types of business plans differ in purpose, content, format, language and tone.
The major differences between an E2 immigration visa business plan and a regular business plan are:
- Purpose: The purpose of an immigration visa business plan is to convince the USCIS officer that the business enterprise that the petitioner is investing in has the potential to create the required number of jobs to qualify him or her for an E2 immigration visa. On the other hand, the purpose of a regular business plan is to attract investors and help managers run the business smoothly.
- Content: While both business plans have similar content, the content of an immigrant visa business plan is geared towards proving that the business is bona fide (tax returns, financial statements, quarter wage report or payroll summaries, bank statement, etc.), demonstrating that the business is not marginal, demonstrating that the investment is substantial and irrevocably committed (cancelled money orders or checks, itemized list of goods and materials purchased for the start-up, lease agreement, etc.), demonstrating the source of capital (wire transfers or money orders, foreign bank statements, foreign tax returns, etc.), and demonstrating that the petitioner has the capability to develop and direct his or her business (list of owners and percentage of ownership, meeting minutes, etc.)
- Format: The format of an immigration visa business plan is quite different from the format of a regular business plan. Generally, an E2 immigration visa business plan includes extensive information on the applicant and their background, in addition to the sections commonly found in other business plan types, such as an executive summary (introduction, mission, objectives, organization chart, set up costs summary, sales forecast for the 5-year period, etc.), company information (ownership, startup details), services, market analysis (market segmentation, target market segment strategy, competition and buying patterns), strategy and implementation (marketing strategy, sales strategy, sales forecast and competitive edge), and management (managers and executives, personal plan, salary forecasts).
- Language and tone: The immigration visa business plan written for the USCIS must be written in a language that reflects the immigration rules as well as legal business guidelines. The language and tone of writing should be such that the immigration officer reading the business plan will have no difficulty in understanding the contents of the document. It should also be written in very good English with no room for grammatical and spelling errors.
Thus, an immigration visa business plan is quite different from other business plans, which focus primarily on what investors and managers want to see. Since an E2 visa petition has very stringent requirements, the E2 immigration visa business plan should be written by a professional visa business plan writer who is familiar with immigration rules and legal business guidelines of the United States. The plan is crucial for the success of your E2 visa application; therefore, you should leave no room for errors.