Tag Archives: EB-5

Green Card Visa Bulletin June 2013 Update

The US Department of State recently published their June 2013 Visa Bulletin which tells people whether they are eligible to continue their process for a Green Card. This is essentially the monthly announcement that so many wait for because it may spell the beginning of a 5-10 year wait or more for the chance to continue their Permanent Residency quest in the US. The wait times in particular for Indian and Chinese foreigners is crazy and is a direct result of the illogical nature of how the current US Immigration laws are written.

This is a quest that ultimately has cost them career growth, salary growth, the ability to be flexible with themselves and their family, left them unable to move and even caused a guest blogger on this site to pen a letter to President Obama pleading for action on this green card issue for both the Immigrants who are legal and hurting as well as for the benefit of the US Economy at large. The current proposed US Immigration Reform seeks to address this to some degree but the reality is either may not pass, may be amended so it doesn’t help situation or more likely cause new issues with the backlog.

The main updates in the bulletin are;

EB-1 Permanent Residency Visa (Extraordinary Ability Professionals & Individuals)

  • EB-1 remains current for all applicants

EB-2 Permanent Residency Visa (High Skill, Advanced Degree & Senior Experienced Professionals)

  • EB-2 remains current for all applicants except Indian and Chinese
  • EB-2 priority date for Indians remained at Sept 1, 2004
  • EB-2 priority date for Chinese went from May 15, 2008 to July 15, 2008

EB- 3 Permanent Residency Visa (Skilled Professionals with Bachelors Degree or Equivalent Work Experience)

  • EB-3 (Skilled Workers) priority date for Indians advanced from Dec 22, 2002 to Jan 8, 2003
  • EB-3 (Skilled Workers) priority date for Chinese advanced from Dec 1, 2007 to Sept 1, 2008
  • EB-3 (Skilled Workers) priority date for Filipinos advanced from Sept 15, 2006 to ┬áSept 22, 2006
  • EB-3 (Skilled Workers) priority date for all other countries advanced from Dec 1, 2007 to Sep 1, 2008
  • EB-3 (Other Workers) priority date for Indians advanced from Dec 22, 2002 to Jan 8, 2003
  • EB-3 (Other Workers) priority date for Chinese advanced from Sept 1, 2003 to Oct 22, 2003
  • EB-3 (Other Workers) priority date for Filipinos advanced from Sept 15, 2006 to ┬áSept 22, 2006
  • EB-3 (Other Workers) priority date for all other countries advanced from Dec 1, 2007 to Sep 1, 2008

EB-4 Permanent Residency Visa (Religious Workers)

  • EB-4 remains current for all applicants

EB- 5 Permanent Residency Visa (Investment Visa)

  • EB-5 remains current for all applicants

One final point I will leave you all with if you are an Indian foreign professional who has been working in the US since as late as October 1, 2001 (given to do a green application process takes about a year) and then had their Green Card Application approved in Jan 2003 has reached an important milestone. After 10.5 years, no promotions at work, thus no career growth, little salary increase and the same company they can finally continue their Green Card process to the medical test and interview stage and final few months to hopefully officially becoming a permanent resident in the US. When they were originally approved and now waited 10.5 years, George W Bush had only finished 2 years of his presidency, the Iraq war was 2 months from starting, Windows XP was the latest operating system, there was essentially no such thing as a proper Smartphone, Facebook was a year away from commencing and Finding Nemo was a top movie of the year.

Cj

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The Importance of a Well-Drafted Business Plan in L1, E2 and EB5 Visa Matters

The United States government expects to see a well-drafted business plan as support for applications in both the E Treaty Visa category and the EB5 Immigrant Entrepreneur category. Additionally, USCIS often kicks back a request for a feasibility study in L1 “New Office” petitions, which is something that is normally included in a well-drafted business plan. Hence, it stands to reason that inclusion of a well-drafted business plan is essential as supporting documentation in an L1 “New Office” Petition.

As evidence of the critical importance of a well-drafted plan is the fact that the United States government frequently denies L1 visa, E2 visa and EB5 visa petitions and applications due to their lack of a plan that is both comprehensive and credible.

Business plans that are not comprehensive and are more in the nature of a summary or overview of the business are generally not acceptable for L1 visa, E2 visa, and EB5 visa purposes. Instead, in any one given case the United States government expects to receive and review a quality product that, at minimum:

a.) Fully describes the enterprise, its products and services;

b.) Analyzes the market in detail, including potential customers and competition;

c.) Outlines a marketing strategy;

d.) Projects sales, costs, and income over a period of 5 years, showing the basis for these projections; and

e.) Presents complete details regarding the enterprises organizational structure, including complete job descriptions and a staffing timetable.

In short, the United States government expects to see a business plan that is as comprehensive as one that would be presented to a bank for purposes of seeking funding. Therefore, it is strongly recommended that one seek the services of a professional who is familiar with the relevant immigration regulations to draft ones plan if one hopes to stand a strong chance at success in an L1 visa, E2 visa or EB5 visa petition or application.

When selecting the right firm to draft a visa-specific business plan, a company or investor should seek out a firm that possesses both experience in the writing of bespoke business plans as well as the appropriate legal expertise to tailor the plan to the specific requirements of the L1 visa, E2 visa or EB5 visa categories.

To ensure that all the required elements of a well-drafted business plan will be covered to the satisfaction of the United States government, the company or investor should satisfy themselves that all of the following services will be covered by the fee that they will be paying for the business plan writing service:

a.) Setup of business plan according to target visa category;

b.) Gathering of information and documentation regarding company ownership, objectives and mission;

c.) Working with business owner to determine concise statement regarding company’s success formula;

d.) Work out with owner the visa-appropriate management and staffing plan (i.e., executive/management mix for L1 visa; marginality avoidance for E2 visa; creation of 10 full-time positions over a 2-year period for EB5 visa;

e.) Draft an easy to read service summary;

f.) Collaborate with client to create feasibility study, which covers target market, customer/client potentiality in geographical area (with growth projections), and competition analysis;

g.) Gather financial information to draft financial plan and Tables, including Start-up Summary (as applicable), Sales Forecast, Operating Expenses, and 5-year Projections.

Once the business plan has been developed into its penultimate draft, it should undergo a final review by the responsible immigration attorney to secure an opinion as to the viability of the plan, from a financial perspective. (Obviously, if the responsible immigration attorney is drafting the business plan, his or her opinion will be rendered simultaneously with the creation of the penultimate draft.) Once the responsible immigration attorney has rendered his opinion that the plan is fiscally viable, the plan can be finalized and signed off for inclusion in the visa application package.

 

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