The L-1 business plan is a supporting document for an application for an L-1 Visa. The L-1 Visa is also applicable when a foreign organization wants to open a US office and needs to transfer its employees to work in the new business. We require L1 Business Plan to transfer when the US Company wants an employee to transfer from another company to the US to work in any of US office.
The US citizenship and immigration services agency administers the L-1 business plan and set some important rules and regulations. The first rule is that the foreign office and the same company must operate the US office.
The US office can take many business forms as a parent office, affiliate, branch or subsidiary of a parent business company.
Another rule is that the US office and foreign business are to be similar in some manner.
Besides this one more requirements is that the new office must be active in the market at the time of employee transfers or close to an actively operating after the employee arrivals as an L-1 business plan.
Any immigration business may seem like a regular Franchise Business Plan but actually, it differs.
There are four major requirements you must fulfil to apply for an L-1 business plan:
1. The petitioning US entity must have a qualifying with your entity abroad.
2. Enough physical space must be in a new office.
- 3. A new office must be operational and active within one year after the L-1 business plan admission to the united state if requesting an extension of stay.
4. The new office must support a managerial position after one year of L-1 business plan if you are requesting an extension of stay.
The USCIS wants the ways your business can be valuable for the country and the ways it can be beneficial overall.
In the following guide, I will show you the key components that your L-1 business plan need.
1. Necessary documents:
- Having all the important supporting documentation is the most necessary step in the L-1 business plan writing process.
- It will be much easier to write the L-1 business plan once you have gathered all the documents.
- To write a detailed L-1 business plan you will need the following documents.
- Lease or dead agreements if you are renting a business space, or buy-sell agreements if you are using company business space
- A foreign company’s financial statements for the past three years
- Business buy-sell agreements if you are purchasing an existing business from someone or franchise agreement if you are purchasing a franchise
- The current organizational chart of the foreign company and expected organizational chart of the US company in year 5
- Articles of incorporation or articles of organization depending on whether your firm is a corporation or limited company
- Resume of the applicant and employees already hired and occupying a management position
- List of the capital invested by the applicant for L-1 business plan including expenses already incurred and the working capital remaining
- Finally, decide if a foreign company or an affiliated company.
- 2. Grammar, structure, tone, and proofreading:
- What we write in the Business Plan Service document and how it is said is equally important?
- When it comes to your immigration L-1 business plan?
- To complete your L-1 business plan at the optimal level, follow the following guidelines:
- If the company is already operational in the market, use the present tense; if not use future tense
- Do not mention the passive language and use active verbs instead
- Do not use contractions
- Use concise sentences
- Do not use familiar or slang word
- Always use the third person when speaking of the applicant
- Try to include photos of the company’s location, websites, social media platforms, and flyer, etc.
- Finally, you will want to have somebody else proofread your L-1 business plan.
3. Business overview:
The business overview is the first parameter that the application reviewer will read. We also call this the executive summary. It should be concise and well prepared as it summarizes the entire immigration L-1 business plan.
You should point out the followings in your business overview summary:
- When was the business created?
- Who is the business owner?
- What does the business do?
- Where is the business located?
Location matters a lot when it comes to business and this must be reflected in your L-1 business plan. Choice of location is sometimes the ultimate marker of success for a business and may bring an enormous customer base. Therefore, it will give lots of credit to you.