You are not required to submit a Business Plan with your E-1 application, but it still may be a good idea to submit one. Normally a business plan is required for an E-2 visa as it shows the employees that will be hired over time. Hiring employees is not a requirement for an E-1 visa which limits the need for a business plan.
Why should I submit a business plan for an E-1 visa if it is not required?
- To help the reviewing officer understand what the company does, what kind of services it provides, what kind of goods it sells etc. You should describe what the company does in detail.
- To describe your financial plan. We would recommend including a 5-year financial plan (Profit and Loss Statement, Cash Flow projections, and Balance Sheet) to prove that the business will be successful. We would also recommend specifying how much of the trade each year will be between the U.S. and the treaty country to prove that at least 50% international trade is with the U.S.
- To include the Market Analysis so you can prove to the officer that the business is going to be successful and will earn revenues.
- Even though hiring U.S. employees is not a requirement for an E-1 visa, if you plan to hire employees or independent contractors, it may be a good idea to include a personnel chart in the Business Plan. This can help with the approval of an application. If you plan to keep operating your business in your home country, you may also specify how many employees you employ there.
Please note that the Business Plan does not have to be very long, but it may be a good idea to submit one with your E-1 application. Please note that some Consulates have very specific requirements and have very strict page limit, so you should check the requirements of the Consulate where you want to apply if it would be helpful to submit a Business Plan.
Please see our blog post discussing the E-1 requirements when you click here
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