WHAT GOES INTO AN EB5 BUSINESS PLAN? Suzanne Lazicki Marge Lessard Lucid Professional Write Source Writing Martin Lawler Phil Cohen Lawler & Lawler Strategic Element Kurt Reuss Primary Capital PRESENTED BY: ‹ › 1 No legal advice is being provided; the material and comments discussed are intended to provide general information only
WHAT GOES INTO AN EB5 BUSINESS PLAN? Selecting a Business Plan Writer • How long does it take? • What does it cost? • Experience? • Synergy with a team? 2 ‹ › No legal advice is being provided; the material and comments discussed are intended to provide general information only
WHAT GOES INTO AN EB5 BUSINESS PLAN? Purpose of the Business Plan I-526 approval (USCIS approval) Support investor decision (Marketing) 3 ‹ › No legal advice is being provided; the material and comments discussed are intended to provide general information only
WHAT GOES INTO AN EB5 BUSINESS PLAN? Purpose of the Business Plan I-526 Approval • ’Matter of Ho’ compliant • Comprehensive • Credible • Consistent • Supports reasonable inferences 4 ‹ › No legal advice is being provided; the material and comments discussed are intended to provide general information only
WHAT GOES INTO AN EB5 BUSINESS PLAN? Purpose of the Business Plan Support investor decision (Marketing) • Clear language • Concise organization • Describes an appealing project 5 ‹ › No legal advice is being provided; the material and comments discussed are intended to provide general information only
WHAT GOES INTO AN EB5 BUSINESS PLAN? What Goes Into Business Plan • Project description • Management background • Sources of funds • Feasibility study • Sales & marketing plan • Expense and revenue projections • Timeline • Source material (cited) 6 ‹ › No legal advice is being provided; the material and comments discussed are intended to provide general information only
WHAT GOES INTO AN EB5 BUSINESS PLAN? Duration • Immigration attorney (project manager) • Preliminary job estimate • Business plan & economist report (3 weeks) • Securities attorney (4 weeks) • Immigration attorney pulls the I-924 package together (3 weeks) *Count on 3-4 months to complete offering package 7 ‹ › No legal advice is being provided; the material and comments discussed are intended to provide general information only
WHAT GOES INTO AN EB5 BUSINESS PLAN? EB-5 Specialist • Working relationships with EB5 professionals • Data subscriptions • Mindful of RFEs and USCIS memorandums 8 ‹ › No legal advice is being provided; the material and comments discussed are intended to provide general information only
WHAT GOES INTO AN EB5 BUSINESS PLAN? What to Avoid • ‘Kitchen Sink’ RFE • Too many conclusive assumptions • Contentious issues (tenant occupancy, troubled business) • Poorly justified or vaguely worded • Inflated estimations (hiring, revenues, spending) • Inconsistencies (internal and external) • Reliance on templates • Excessively long plans 9 ‹ › No legal advice is being provided; the material and comments discussed are intended to provide general information only
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