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Thursday, August 24, 2023

How to Create a Winning Business Plan for the L1 Visa Program

The L1 visa was created to enable companies to move staff from one of their international offices to one of their US operations under specific circumstances. It comes in two categories: The L1b visa makes it feasible for an employee with unique knowledge of the organization's interests to be transferred, whereas the L1a visa permits the transfer of an acknowledged executive or management to the company's US office.

Here's a guide to help you write a winning business plan for your L1 Visa.

  1. Gather all the necessary documentation.

The most important stage in creating an L1 Visa business plan is ensuring you have all the required supporting documentation. When you have acquired the necessary documents, writing the strategy will be much simpler. You will require the following supporting papers to create a thorough L-1 business plan:

  • Lease or deed agreement

  • Foreign company's financial statements for the last three years

  • Business buy-sell agreement

  • Resume of the applicant

  • List of capital invested by the applicant

  1. Business summary

Remember that the application examiner will read through the executive summary first. Given that it is a summary of the complete immigration business plan, the executive summary must be brief and well-written.

Executive summaries typically range from one to four pages and include information about the company's nature, growth strategy, target market, marketing plan, and personnel count. To write the best executive summary, you should address the following issues:

  • When was the company founded?

  • Who are the owners of the company?

  • What is the company's mission?

  • Where is the company based?

  • What is the purpose of the company?

  • What is the company's plan for growth?

  • Who is the target market for the company?

  • What is the company's marketing plan?

  • What activities are carried out by the company's overseas parent or subsidiary?

  • How many staff members work there?

  1. Foreign business summary 

The business model, background, and current market position of the foreign company will all be included in the foreign business overview. This section aims to provide the USCIS with an overview of the parent company's operations, demonstrate its financial stability, and demonstrate how it can expand and sustain a business in the country. The identical questions posed in business summary should be addressed for the foreign business overview. You should also include details or images of the goods or services the foreign company offers, define its position in the industry, briefly list its rivals, and outline its expansion plans for the following five years. You should also mention the foreign company's net value, the number of employees, any awards or national certificates, and the sales increase over the previous five years.

  1. Ownership

The company's organizational structure is crucial to the L1 Visa business plan since it informs the immigration officer of how many people within the company have decision-making authority. The applicant must demonstrate majority control of the company from an immigration perspective.

Along with the incorporation date, ownership structure and owner information should be included in this area. A clear and straightforward architecture of the ownership and organizational structure of the company can be demonstrated to the immigration officers using any graphics that display the investments of each stakeholder.

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