Everything You Need to Know About L1 Business Plan

Everything You Need to Know About L1 Business Plan

Immigration law is complicated. Getting a visa is an arduous process that requires one to comply with strict regulations. That's why you need an L1 Business Plan when applying for L1 visa. It helps to increase the chances of success.

So, are you a business owner or a foreign professional in the market for a visa?

Well, you have different options to choose from. In this article, we’ll focus on the best strategy to acquire an L1 visa.

What’s an L1 visa?

The L1 visa is a nonimmigrant visa. It targets multinational firms that transfer their employees from other countries to the United States. The employees can be executives, managers or employees with unique skills.

So, do you qualify according to these regulations? If yes, can you or your firm prove that your role falls within the USCIS regulation for an executive, manager or a specialized employee? The last one is the hardest to read resulting in many denials.

Your employer needs to prove that their business affiliate or branch has an affiliate for growth. That’s the only way it can have a positive impact on the economy of a country.

Do You Need an L1 Business Plan?

The USCIS doesn’t specify whether you need the L1 Business Plan or not. However, as earlier stated, the main task lies with convincing USCIS that your business has a prospect for growth or that your employment position is legitimate.

Because of this, an L1 Business Plan is an invaluable tool that’s important to get approval. Very few applications go through without a viable business plan. It’s also the reason why we’re focusing on what you need to know about L1 Business Plans and visas.

Remember, an online guide should never be a substitute for your Business Plan Writer or professional legal counsel. It’s important to engage experts who will guide you through the process. It’ll help avoid costly and unnecessary mistakes.

How to Create a Solid and Successful Business Plan The idea behind crafting this business plan is to get it right the first time. The document you draft should be of high quality. Once the USCIS officers go through it, it shouldn’t have any question about your mission, nature of the work, competitiveness, possibility of success among others.

So, do you want to get your visa? Here are some helpful tips for writing an effective L1 Business Plan.

1. Organize the Necessary Documents Start by identifying the documents you’ll need throughout the exercise. Arrange these documents in an easy-to-access manner.

The following are some documents that are essential for the success of your application process.  

Financial statements for the overseas business for three years.

A chart displaying the hierarchy structure of your overseas branch. Be sure to include the same hierarchy in the United States and how it’ll be in ten years.  Evidence for physical premises that you’ve either built or rented. It can be a title deed or a lease document.  When buying a franchise or business, use the buy and sell agreement for this case.

2. Give a Concrete Summary of Your Business An immigration officer will encounter your business plan first. As such, you should make it water-tight.

The business summary should reveal accurate details about your company. Also, ensure the document is brief; the full one page.

It should include the following:        3.

Its current owners.

Your business goals, mission, and objectives.

The current number of employees working at your company.

The type and nature of your business deals.

The duties and roles of the L1 visa holder once their application is approved.

The number of people your company intends to hire in the next five years.

A statement of financial projections in the next five years.

Show the Ownership Structure in Your Company

Make the ownership structure of your company clear to the USCIS. Use a simple graphic or short paragraph to show the internal structure and ownership hierarchy in your business.

4. Explain Your Market Your L1 Business Plan should make the USCIS understand your market. At the same time, it should be clear on the role your company plays in the market.

The business plan should demonstrate how your company plans to penetrate the U.S market. The only way to do this is through careful market analysis. It should show your market in a way that demonstrates how your firm plans to grow with the market.

Final Word Too many people are in a hurry to get an L1 visa. As a result, they create an L1 Business Plan that lacks in quality. Don’t make this mistake. Your plan must shine through. Remember, many people will be applying for this visa. Yours must stand out. Hire a Business Plan Consultant to create a compelling and truthful document.