EB-5 Service

We provide business plans and consulting for EB‑5 immigrant investor petitions for standalone direct EB‑5 investment.

A successful EB‑5 business plan is comprehensive and credible, demonstrating how the investment will be deployed in an enterprise that can create at least ten qualifying jobs and comply with EB‑5 requirements.

A well‑structured plan supports USCIS adjudication at all stages of the process. Our approach integrates EB‑5 strategy, market and industry research, conservative financial modeling, professional presentation, and careful review for consistency.

The EB-5 immigrant investor program makes visas available to individuals who invest in U.S. businesses and contribute to economic growth by creating jobs for U.S. workers.

The EB-5 program has two paths: regional center EB-5 and standalone direct EB-5. The regional center path allows pooled EB-5 investment and indirect jobs under the sponsorship of a regional center designated by USCIS. Standalone direct EB-5 allows a single EB-5 investment in an enterprise that creates direct jobs.

The Lucid business plan process starts with strategy and research, and works toward a comprehensive and credible business plan presentation. The goal is to help set the client up for near-term and long-term success, both with the business and in the immigration process.

Step 1: Strategize

• Preview the business proposal and discuss goals with the client. Assess EB-5 feasibility.
• Identify common sticking points and deal-breaker issues for EB-5, and discuss how to navigate practical challenges.
• Clarify the implications of EB-5 requirements for business structure, organization, and development timeline.
• Clarify USCIS standards and evidence requirements for the business plan.
• Align with legal counsel’s strategy and schedule for the EB-5 petition.

Step 2: Organize

• Customize a client questionnaire for the subject business.
• Review client inputs and documentary evidence, and align with EB-5 evidence targets.
• Undertake market and industry research from reliable and verifiable sources to supplement client materials.
• Think “what questions are investors and USCIS likely to have about this proposal,” and identify answers to the questions.
• Organize a summary of key details: specifications, schedule, structure, staffing, and budget.
• Discuss and prepare a financial model, choosing the most conservative case that accomplishes EB-5 goals.
• Identify gaps in evidence, and resolve discrepancies.

Step 3: Present

• Implement best practices for effective business plan presentation.
• Aim to provide substantial, relevant detail with few words.
• Create an executive summary and financial model dashboard that focus on EB-5-relevant factors.
• Use professional formatting for clarity and to create a strong first impression.
• Use formatting that will be easy to read when printed in color and scanned in black-and-white.
• Use numbered headings and indexes to facilitate navigation and reference.
• Highlight verifiable evidence with citations and an exhibit list.

Step 4: Review and Support

• Conduct a systematic review to ensure accuracy, consistency, and completeness.
• Respond to revision requests from the client and counsel.
• Support evidence requests from USCIS.

The USCIS Policy Manual describes the standard for a comprehensive EB-5 business plan, referencing the precedent decision Matter of Ho. The standard can be summarized in two words: “comprehensive” and “credible.”

Quoted from the USCIS Policy Manual 6 USCIS-PM G Chapter 2 (B)(1):

Comprehensive Business Plan

For standalone investor petitions filed at any time and regional center investor petitions filed before March 15, 2022, a comprehensive business plan should contain, at a minimum, a description of the business, its products or services (or both), and its objectives.

The plan should contain a market analysis, including the names of competing businesses and their relative strengths and weaknesses, a comparison of the competition’s products and pricing structures, and a description of the target market and prospective customers of the new commercial enterprise. The plan should list the required permits and licenses obtained. If applicable, it should describe the manufacturing or production process, the materials required, and the supply sources.

The plan should detail any contracts executed for the supply of materials or the distribution of products. It should discuss the marketing strategy of the business, including pricing, advertising, and servicing. The plan should set forth the business’s organizational structure and its personnel’s experience. It should explain the business’s staffing requirements and contain a timetable for hiring, as well as job descriptions for all positions. It should contain sales, costs, and income projections and detail the basis of such projections.

Most importantly, the business plan must be credible.

USCIS reviews business plans in their totality. An officer must determine if it is more likely than not that the business plan is comprehensive and credible. A business plan is not required to contain all of the detailed elements, but the more details the business plan contains, the more likely it is that USCIS considers the plan comprehensive and credible.

See Matter of Ho (PDF), 22 I&N Dec. 206, 213 (Assoc. Comm. 1998).

A business plan is “Matter of Ho compliant” if it is comprehensive and credible: meaning detailed, consistent, and supported by evidence. The plan should support job creation projections by showing that the proposed business is feasible, not merely speculative, and with potential for long-term survival. The plan should avoid inconsistencies that undermine credibility.

Detail

Address each content element specifically mentioned in Matter of Ho, from business description down to income projections.

Evidence

Provide “independent objective evidence” for key claims, rather than relying on “conclusory assertions.” Matter of Ho

Assemble a robust collection of documentary evidence to support the business plan, including licenses, permits, and contracts.

Within the business plan, cite reliable data from industry and government sources. Make all citations verifiable by providing hard copy exhibit documents or URL links to open-source material.

Consistency

Ensure internal consistency. Before writing, work out a summary of key business plan details to be referenced consistently throughout the submission. If business plan exhibit documents include inconsistencies (which is common, for a developing project), preemptively explain them. Focus on consistency in document review.

Set the stage for consistency between the plan and what may happen in the future. Identify and place hedging language around business plan details that are subject to change. Write in flexibility around goals, and present conservative projections.

Avoid apparent discrepancies with open-source information. Replicate online searches that USCIS adjudicators are likely to make, and use the business plan to explain any difference from business plan representations.

• Executive Summary: Summarize the plan for investment in a new commercial enterprise that creates jobs.
• Business Description: Describe the business, its products and services, and objectives. Identify the business location, and describe the existing facility or proposed development.
• Development Plan: Identify development milestones accomplished, and provide a timeline to commence operations. Discuss applicable legal requirements, and the status of licenses and permits.
• Structure and Management: Explain the structure and ownership of the enterprise, and provide an organizational chart. Discuss management experience, and the EB-5 investor’s role in management or policy formation.
• Operations Plan: As applicable, describe the manufacturing process, materials required, supply sources, distribution channels, intellectual property, franchise affiliation, hours of operation, and other operational factors.
• Personnel Plan: Explain the staffing requirements of the business, and provide a hiring schedule and detailed job descriptions.
• Market Analysis: With reference to verifiable data, profile the target industry, target market, and competitive market. Define the market opportunity and marketing strategy.
• Costs and Capitalization: Provide a detailed breakdown of the total cost to launch the business, with reference to expenditure evidence and industry standards. Identify capital sources and commitments.
• Financial Projections: Provide financial statements and projections as appropriate to explain working capital needs and show potential to support job creation and a profitable exit strategy. Support projections with reference to market analysis and industry standards.

Suzanne Lazicki is an expert in immigrant investment who has prepared EB-5 business plans for hundreds of businesses. She has been recognized in the EB5 Investors Magazine poll as one of the Top EB-5 business plan writers annually from 2016 to 2025, and is known for her EB-5 analysis at blog.lucidtext.com.

Each case benefits from Suzanne’s EB-5 experience, expertise, and extensive library of resources for market and financial analysis. She holds a master’s in business administration and certification in financial modeling and valuation.

Contact

(626) 660-4030

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