A business plan is an essential tool when applying for the international entrepreneur parole program. Used to assess the viability and potential of the applicant's startup in the United States, the business plan provides information about the applicant's business model, marketing strategy, financial projections, and management approach.
Furthermore, the business plan will show authorities that the parole beneficiary has a substantial ownership interest in a startup entity, has a central and active role in the startup, and will provide a significant public benefit to the United States. It is also important that the business plan shows the startup has received significant investment of capital from qualified U.S. investors.
A solid business plan may also discuss government awards or grants, letters from relevant government agencies, qualified investors, or established business associations. It may also show evidence of the rapid growth of the startup, revenue generated by the startup entity, as well as positive effects of the startup at a local, regional, and national level.
The immigration authorities use the business plan to evaluate if the proposed startup has the potential to create jobs, stimulate economic growth, and contribute to the US economy. A well-written business plan can significantly increase the chances of being approved for the international entrepreneur parole program.
Additionally, having a comprehensive business plan can also demonstrate the applicant's business acumen and ability to successfully lead and operate a business in the US. The business plan will be fundamental in describing the applicant’s role in the startup by providing a detailed position description.
In summary, a business plan is vital when applying for the international entrepreneur parole program because it provides key information that US immigration authorities consider when assessing a noncitizen entrepreneur’s eligibility.
The information provided on Visa Business Plans’ website does not constitute and is not intended to constitute legal advice, and should not be relied upon as such. You should seek legal advice or other professional advice in relation to any particular matters you or your organization may have.
Visa Business Plans is led by Marco Scanu, a certified coach from the University of Miami with a globally based practice coaching Fortune 1000 company executives, entrepreneurs, as well as professionals in 4 different continents. Mr. Scanu advises clients on turnaround strategies and crisis management.
Mr. Scanu received a bachelor’s degree in Business Administration (Cum Laude) from the University of Florida and an MBA in Management from Bocconi University in Milan, Italy. Mr. Scanu was also a Visiting Scholar at Michigan State University under the prestigious H. Humphrey Fellowship (Fulbright program) with a focus on Entrepreneurship, Venture Capital, and high-growth enterprises.
At present, Mr. Scanu is the managing partner and CEO at Visa Business Plans, a Miami-based boutique consulting firm providing attorneys and investors with business planning services in the areas of U.S. and Canadian immigration, SBA loans, and others.
