如何检验美国EB-5移民项目的商业计划书

商业计划书，是EB-5投资者在递交I-526申请时，所提供的项目文件中的一个重要组成部分，看似简单，也是比较容易受到忽视。在EB5Sir能看到的EB-5被拒案例中，特别是在直投项目中，由于商业计划书的不合规而被拒的案例，比较常见。1998年7月，USCIS（移民局）的Matter of Ho判例对EB5商业计划书做出了具有标杆意义的指引，依据此案，USCIS要求每一个EB-5申请人应该提交一份“详尽”（“Comprehensive”）的商业计划书。今天，EB5Sir找来的e-Council, Inc. 公司Lauren Cohen律师的文章，详细解释了投资者需要考察的商业计划书的要点，只有完备的商业计划书才能符合USCIS的审核要求。全文由业内朋友义务翻译，特此感谢。

在复杂和繁琐的EB-5行业，撰写一份合规的商业计划书需要十分严谨的专业技能。撰写者需要十分熟悉EB-5行业的要求，同时需要了解制定一份可被执行和能被认可的商业计划书的重要性。

投资者随着EB-5申请一同递交的商业计划书，需要向移民局提供一个可以“合理推断”出关于此商业项目的潜在可行性及成功。商业计划越详尽，审案者越有可能评估这个商业计划的潜在成功率，而这将直接增加被批准的可能性。一个真正可信的商业计划书需包含EB-5投资人投资的新创企业的详细和可核实的信息。

EB-5商业计划书，不管是在区域中心的项目还是直投项目，必须满足Matter of Ho判例的要求。非常重要的是，EB-5投资人和项目方明确知道Matter of Ho判例的要素，并确保提交给USCIS（移民局）的商业计划，能包含足够详尽的每项要素，且经专业的呈现，并包括所有支持性文件和数据。

商业描述

商业描述的主要目的为了让移民局对（所建议的）商业计划有一个基本的了解，包括：一、行业；二、经营宗旨、运营情况及员工安排；三、公司宗旨；四、商业背景和前景；五、其他有助于USCIS了解该商业计划的信息。在商业描述中，移民局需要鉴定该商业计划的基本概念、业务模式和成功的几率。

商业结构

EB-5投资人通常必须投资于以营利为目的，将进行合法生意的，新商业企业。类型包括，独资经营、合伙、控股企业、合资企业、公司、商业信托，或任何其他形式的合法企业。尽管EB-5投资移民签证，对于业务结构类型没有具体要求，但业务类型对于法律、税收和管理方面的考量是非常重要的。三种最常见的EB-5企业形式是有限合伙、公司、有限责任公司。

有目标市场分析的营销计划

一个有意义的营销计划和财务预算将有助于移民局判定企业成功的可能性。完善的市场营销计划是一个商业计划的最重要组成部分；它是促销产品或服务，使其得到目标消费市场的注意的行动指南。企业若没有一个营销计划来指导运营，那将可能浪费大量金钱，无销售量，并最终导致失败。值得注意的是，在EB-5商业计划中，营销计划常常需要解决两个不同的目标市场：企业的潜在投资者，以及，企业的产品或服务的实际用户。

人事经验

商业计划的该要素一般要描述：企业的管理层、核心员工和他们的经验，管理理念、背景、组织和功能。通过图表和组织结构图来描述各人员的职能是十分有效的。组织结构应该是健全的，并遵循同类企业普遍接受的商业惯例。

竞争分析

竞争者，应该通过市场渗透、价格、就业、产品、服务以及其他相关因素，来进行分析。强调现有企业和新商业企业之间的差异是很重要的。知道与竞争者相比企业的优势和劣势有助于让USCIS知晓所建议的企业将遇到的挑战和机遇并作出客观地抉择。

所需的执照和许可证

经营一个企业需要许可证和执照。联邦和州的发放的执照通常包括，那些至关普通大众，或是为大众的公共福利提供专业服务的企业。本地执照通常包括，职业许可证或营业税，以及可能的卫生或特定业务的类似许可。

招聘时间表

EB-5计划要求，新商业企业在两年期间，为每位投资人创造至少10个全职工作机会，并/或挽救10个就业。一个合规的商业计划，需要证明每一个投资者将通过详细的人员配置计划创造10个就业机会，这个计划包括明确的员工招聘时间表，最好是能在描述上和实际情况中都能做到。

职位描述

职位描述是任何企业组织必要的组成部分和一个商业计划书的重要要素。职位描述将确保USCIS了解到，企业将创造的就业岗位，每个岗位的角色和责任。他们应该是实用、清晰、准确，并将直接关联到该项目。

预算和财务预测

商业计划书必须包括详细的财务预测，包括销售、成本、预算和超过五年的收入。这个预算也必须表明这些预测的基础和假设。该预测还必须显示出，EB-5投资者的资金，用来启动、支持和维护业务，以及EB-5资金的使用细节。所有的财务预测必须基于一般公认会计原则及合理的商业模式。

作为EB-5项目中的最关键环节，商业计划书的起草过程可以说是决定性的。关键是，你不必知道每一件事，你只需要足够清楚其流程并理解它，然后聘请专家来起草你的商业计划书，最好是一个拥有相关知识，经验的值得信任的权威机构，最终实现成功。

原文作者：Lauren Cohen律师，原文出处：www.eb5investors.com。

Investor’s Checklist for an EB-5 Compliant Business Plan
BY LAUREN COHEN

Writing a compliant business plan in the complex and cumbersome EB-5 world is a refined area of expertise. The writer needs to be intimately familiar with EB-5 requirements, while understanding the importance of developing a business plan that can actually be implemented and defended.

Business plans submitted with EB-5 visa petitions must provide a basis for USCIS to draw “reasonable inferences” about the business’s potential viability and success. The more detailed the plan, the better the opportunity for the reviewer to assess the potential success of the business, which will translate to a higher likelihood of approval. A truly credible business plan contains detailed and verifiable information about the new enterprise that will be supported by the EB-5 investment.

EB-5 business plans, whether for regional center or direct investment projects, must meet the requirements set forth in Matter of Ho. It is crucial that EB-5 investors and facilitators understand the Matter of Ho elements and ensure that the business plan submitted to USCIS contains each element in sufficient detail, is presented professionally, and includes all supporting documentation and data.

Business Description

The main purpose of the business description is to give USCIS an overview of the (proposed) business, including the (i) industry, (ii) business purpose, operations, and personnel, (iii) mission statement, (iv) business history and future plans, and (v) other information that will provide the agency with an engaging overview of the business. In the description, USCIS needs to get a handle of the concept, business model and likelihood of success.

Business Structure

EB-5 investors must generally invest in a for-profit, new commercial enterprise formed for the ongoing conduct of lawful business, including sole proprietorships, partnerships, holding companies, joint ventures, corporations, business trusts, or any other lawful entity. Although the EB-5 investment visa has no specific requirement for the type of business structure, this choice is very important in terms of legal, tax, and management considerations. The three most common EB-5 entities are limited partnerships, corporations, and limited liability companies.

Marketing Plan with Target Market Analysis

A meaningful marketing plan and budget will assist USCIS in determining the likelihood of the business’s success. A well-developed marketing plan is a vital component of any business; it is the roadmap for promoting the product or service being sold, enabling the business to get noticed by the “right” people–the target market. A business that attempts to operate without a marketing plan will likely end up wasting money, losing sales, and ultimately might fail. Notably, in an EB-5 business plan, the marketing plan must often address two different target markets –the prospective INVESTORS in the business, and the actual END-USERS ofthe business’s products or services.

Personnel Experience

This element of the business plan will normally include an explanation of the business’s management, key personnel, and their experience, management philosophy, backgrounds, organization, and functions. A description of personnel functions and the use of visuals, such as tables and organizational charts, are effective. The organizational structure should be sound and follow generally accepted business practices for similar businesses.

Competitive Analysis

Competitors should be analyzed in terms of market penetration, prices, jobs, products, services, and other relevant factors. It is important to emphasize the differences between existing businesses and the new enterprise. Understanding the weaknesses and strengths of the proposed business when compared to competitors paints a picture for USCIS of the challenges and advantages that the business is likely to face and demonstrates an objective approach.

Required Licenses and Permits

Operating a business means addressing all required permits and licenses. Federal and state licenses are generally required of businesses that fall under categories important to the general public, or those that provide professional services vital to the public welfare. Local licenses usually fall under the category of occupational licenses or business taxes, and possibly sanitation or similar permitting for specific businesses.

Timetable for Hiring

The EB-5 program requires the new business to create a minimum of 10 new full-time jobs for a period of two years and/or to save 10 jobs that would have otherwise been eliminated. A compliant business plan needs to demonstrate that each investment will create 10 jobs through a detailed staffing plan, including a clear timetable for employee hiring, ideally in the narrative and visually.

Job Descriptions

Job descriptions are an essential part of any business organization and an important element of a business plan. Job descriptions ensure that USCIS understands the jobs that will be created by the business, and the roles and responsibilities of each job. They should be practical, clear, and accurate, and directly correlate to the project.

Budget and Financial Projections

The business plan must be well-documented with financial projections including sales, costs, budgets, and income over a period of five years. The budget must also show the basis and assumptions for these projections. It must show the source of funds to start up, support, and maintain the business, as well as detailing the uses of funds raised from investors. All financial projections must be based upon generally accepted accounting principles and reasonable business models.

As the most critical piece of the EB-5 puzzle, the business plan process can be overwhelming. The key is that you don’t have to know everything—you just have to know enough about the process to understand it and then hire experts to develop your business plan, preferably a trusted authority with the education, experience, and expertise to deliver success.