In the realm of business, a well-structured plan is the foundation of success, especially when it comes to securing an E2 visa. However, not all business plans are created equal. Some E2 visa business plans, unfortunately, fail to demonstrate that the business will qualify for the E2 visa criteria. One of the most common pitfalls is neglecting the "not marginal" criteria. This criterion ensures that the business has the potential to generate more than just a minimal living for the investor and their family. A business plan that doesn't address this vital aspect is already on shaky ground.
Another glaring issue we've encountered is the lack of originality and attention to detail in some business plans. It's astonishing to see business plans that are mere copy-paste jobs from other unrelated businesses. For instance, imagine reading through a business plan for a jet ski rental company and stumbling upon a full paragraph detailing the intricacies of cupcake baking. Such glaring inconsistencies not only reflect a lack of professionalism but also raise questions about the authenticity and seriousness of the business venture.
Lastly, the financial section of a business plan is its backbone. It's alarming to see how many business plans present financial statements, such as profit and loss and balance sheets, that are riddled with errors. A fundamental principle of accounting is the equation: total assets = total equities + total liabilities. When this equation doesn't balance out, it's a clear indication that something is amiss. A business plan that can't get its numbers right is essentially worthless, as it fails to provide a realistic and reliable financial projection for the business.
In conclusion, while the E2 visa offers a golden opportunity for investors to expand their horizons, it's crucial to ensure that the business plan supporting the visa application is robust, accurate, and professionally crafted. Avoiding the pitfalls mentioned above can make the difference between a successful application and a missed opportunity.
Sylvain Perret is a business professional who has been living in the United States since 2010. Along with his wife Daphnee, he has established several businesses in the country, including Integrity International Brokers, an agency based in Orlando where he works as a business broker, real estate broker, business consultant, and business plan writer. Over the years, he has helped numerous clients from around the world achieve success in their projects to create or take over a company in the United States with an E2 visa. He is highly knowledgeable about U.S. immigration issues and is the author of the book "S'expatrier aux USA grâce aux visas d'entrepreneurs," which is soon to be translated into English. Sylvain is also a Certified Business Intermediary (CBI) by the International Business Brokers Association and is regularly consulted on issues related to this field. At the age of 50, Sylvain chose to enhance his expertise in finance and strategy by pursuing a Master of Business Administration from the University of Central Florida. He successfully graduated in May 2023, adding a valuable finishing touch to his knowledge. He is active on LinkedIn and Twitter, where he shares his insights and experiences with a wider audience.
