Master prompt
EB-5 Matter of Ho business plan + job-creation methodology
Draft a Matter of Ho compliant business plan + job-creation evidentiary framework: market analysis, financials, hiring schedule, RIMS II / IMPLAN study for Regional Center or direct W-2 schedule.
United StatesEB-5Matter of HoBusiness planJob creationRIMS IIIMPLAN
Draft a Matter of Ho compliant business plan + job-creation methodology section for [CLIENT_NAME]'s EB-5 petition. Matter of Ho (22 I&N Dec. 206) establishes that the business plan must be "comprehensive, credible, and detailed". USCIS RFEs heavily on business plans — particularly for direct investments and new RC projects without track record.
PETITION CONTEXT
- Investment path: [INVESTMENT_PATH]
- NCE: [NCE_NAME]
- JCE: N/A
- Industry / NAICS: [INDUSTRY]
- Target jobs: [TARGET_JOB_COUNT]
- Methodology: [JOB_CREATION_METHODOLOGY]
- Year-2 projected revenue: USD [PROJECTED_REVENUE_YEAR_2]
- Market drivers: [MARKET_FACTS]
§1 — MATTER OF HO STANDARD ELEMENTS
The business plan must demonstrate ALL of the following with documentary backing (not mere
assertions):
(a) Description of the business
(b) Description of the product / service
(c) Market analysis (industry + geographic market + target customers + competitors)
(d) Marketing plan
(e) Operating plan (facilities, equipment, supply chain, technology)
(f) Personnel plan with hiring timeline (THE LOAD-BEARING ELEMENT FOR EB-5)
(g) Financial projections (5-year P&L, balance sheet, cash flow)
(h) Capital structure (sources + uses of all project capital, including EB-5 + non-EB-5)
(i) Permits, licences, regulatory approvals required
(j) Timeline / milestones
§2 — EXECUTIVE SUMMARY (1-2 pages)
Open with:
- Project name: [NCE_NAME]
- Investor: [CLIENT_NAME]
- Investment: USD [as appropriate per [INVESTMENT_PATH]] in [NCE_NAME]
- Industry: [INDUSTRY]
- Location: [project address]
- Total project capital: USD [total — NCE EB-5 + senior debt + sponsor equity]
- Targeted job creation: [TARGET_JOB_COUNT]
- Project timeline: [start to operations to year-2 completion]
- EB-5 capital deployment trigger: [conditions for release from escrow]
- Exit / repayment mechanism: [for RC — typical 5-7y refinance or sale; for direct —
retention as ongoing operating business]
§3 — INDUSTRY + MARKET ANALYSIS (3-5 pages)
Cite primary-source data (IBISWorld, STR, Statista, US Census, BLS, state economic
development agencies). For [MARKET_FACTS] verbatim where credible.
Sub-sections:
(a) Industry overview — NAICS [as per [INDUSTRY]]; US market size; growth rate; key
sub-segments
(b) Geographic market — MSA / county / corridor; demographics; demand drivers
(c) Target customers — segment definition, sizing, decision criteria
(d) Competitive landscape — competitor names, locations, ADR/pricing, market share, gaps
(e) Demand-supply analysis — supply pipeline (new entrants), demand growth trajectory
(f) Why this project fits — specific positioning, differentiation
§4 — OPERATING PLAN (2-4 pages)
(a) Facilities — location, square footage, lease terms / purchase, build-out timeline
(b) Equipment + tech — major capex line items, vendors
(c) Supply chain — key suppliers, contracts
(d) Operating processes — workflow, quality control, customer experience
(e) Permits — building permit, occupancy certificate, liquor licence, health permit, etc.
(f) Insurance — commercial general liability, workers' comp, property
(g) Regulatory compliance — OSHA, ADA, ABC (alcohol), FDA (food), state health code
§5 — PERSONNEL PLAN (THE EB-5 LOAD-BEARING SECTION, 3-6 pages)
This section is the make-or-break for I-526E approval. USCIS examines:
(a) Job count — meets 10-job-per-investor minimum?
(b) Job quality — full-time (>=35 hr/wk), qualifying employees (US citizen, LPR,
conditional resident, asylee, refugee, etc.)
(c) Job timing — created within 2 years of I-526E approval (with reasonable extension)
(d) Job sustainability — sustained through the 2-year conditional period to I-829
For [JOB_CREATION_METHODOLOGY] = RIMS II / IMPLAN (RC path):
- Methodology: regional economic input-output model (RIMS II from BEA, or IMPLAN
commercial) computes total economic impact of construction expenditures + ongoing
operations
- Direct jobs: positions at the JCE — typically counted from JCE's planned headcount
- Indirect jobs: positions at upstream suppliers (e.g., construction materials, food
suppliers)
- Induced jobs: positions in the broader community from worker household spending
- Construction-period direct jobs count ONLY if construction lasts >=24 months
- Operations-phase jobs count freely
- Economic study must be commissioned from a credentialed economist; methodology
transparent; underlying inputs (capital expenditure, operating revenue) sourced from
business plan
- For [TARGET_JOB_COUNT] = 85 jobs / 12 investor units = 7.1 jobs/unit, with 1.5x buffer
arithmetic: NOT sufficient — need 10/unit at minimum, with 1.5-2.0x buffer recommended.
Reconfigure investor units OR redirect to higher-job-yield project.
For [JOB_CREATION_METHODOLOGY] = Direct W-2 hiring schedule (direct path):
- 10 W-2 jobs minimum per investor; common practice: schedule 12-15 hires for buffer
- Each role:
Position title
SOC code (Standard Occupational Classification)
Wage band (USD/yr, ensuring at/above local prevailing wage)
Full-time hours commitment
Hire month (relative to I-526 approval)
Estimated retention period
- Sample W-2 hiring schedule (12 hires for a restaurant):
Month 1 post-approval: General Manager (SOC 11-9051), USD 85k/yr
Month 1: Executive Chef (SOC 35-1011), USD 75k/yr
Month 2: Sous Chef (SOC 35-1012), USD 55k/yr
Month 2-3: 4 Line Cooks (SOC 35-2014), USD 38-42k/yr each
Month 3: Front-of-house Manager (SOC 11-9081), USD 60k/yr
Month 3-4: 4 Servers (SOC 35-3031), USD 28k/yr + tips each (full-time)
Month 4-6: 2 Buspersons (SOC 35-9011), USD 26k/yr each (full-time)
Year 2: Additional 2-3 hires for scaling
- Verify: each role's wage at/above the prevailing wage for the SOC + MSA (DOL FLAG /
BLS OEWS data)
- W-2 form retention strategy + payroll provider (ADP, Gusto, Paychex) — USCIS expects
real W-2s at I-829 stage
§6 — FINANCIAL PROJECTIONS (3-5 pages)
5-year financial model:
(a) Revenue forecast — by product/service line, by year; tie to market analysis
(b) Cost of goods sold — by year
(c) Operating expenses — fixed + variable, by year (rent, utilities, payroll, marketing,
insurance, etc.)
(d) EBITDA, net income — by year
(e) Capital expenditure schedule — startup + maintenance capex
(f) Cash flow statement — by year
(g) Balance sheet — opening + year-end positions
(h) Sensitivity analysis — base / upside / downside scenarios with key driver variations
(occupancy, price, wage inflation, demand)
Year-2 revenue ([PROJECTED_REVENUE_YEAR_2]) should match the operating model. USCIS RFEs
business plans where revenue grossly exceeds industry benchmarks (signal of unrealistic
projection).
§7 — CAPITAL STRUCTURE (sources + uses, 1-2 pages)
SOURCES:
- EB-5 capital: USD [investor units x USD 800k or 1.05M] from NCE -> [if RC, loan
to JCE; if direct, equity in NCE]
- Senior debt: USD [bank loan amount] from [lender]
- Sponsor / developer equity: USD [amount]
- Mezzanine / preferred equity: USD [amount, if applicable]
- TOTAL: USD [total project capital]
USES:
- Land + acquisition: USD [amount]
- Construction + hard costs: USD [amount]
- Soft costs (architecture, engineering, permits, legal): USD [amount]
- FF&E (furniture, fixtures, equipment): USD [amount]
- Working capital: USD [amount]
- Reserves: USD [amount]
- Financing costs: USD [amount]
- TOTAL: USD [total]
EB-5 capital must be at least the amount required to generate the claimed jobs — USCIS
will check whether USD x of EB-5 alone could plausibly generate the claimed direct +
indirect + induced jobs.
§8 — TIMELINE + MILESTONES (1 page)
Gantt-style timeline showing:
- Month -6 to 0: Pre-development, design, permitting, capital raise
- Month 0: Construction start
- Month 18-24: Construction complete; soft opening
- Month 24-30: Full operations; full headcount reached
- Month 24-48 (2-year condition period): I-829 evidence-gathering
- Month 48-60: I-829 filing + adjudication
§9 — DOCUMENTARY APPENDICES
Attach to the business plan:
- Letters of intent / signed contracts with key suppliers
- Site control documentation (lease / purchase agreement / option)
- Architectural drawings / construction contracts (if applicable)
- Franchise agreement (if franchise project)
- Operator agreement (for hotel — Marriott / Hilton / Hyatt branded)
- Off-take agreements (for manufacturing)
- Pre-leasing letters (for commercial real estate)
- Owner / sponsor track record (prior projects)
- Construction permits + zoning approval
- Environmental assessments
- Economist's CV + methodology certification (for RC economic study)
§10 — I-829 EVIDENCE PRE-PLANNING
Forward-look: at I-829 stage (4-6 years from I-526 approval), [CLIENT_NAME] will need to
demonstrate that the business plan was SUBSTANTIALLY EXECUTED. Build evidence-gathering
mechanisms now:
- Quarterly payroll reports (ADP / Gusto)
- Annual W-2s / W-3s
- Quarterly federal payroll tax (Form 941)
- State unemployment insurance filings
- Annual financial statements (audited or reviewed)
- Photographs of facility + operations
- Customer / supplier contracts
- For RC: annual job-creation reports from RC sponsor + JCE financials
§11 — RED FLAGS USCIS WILL SCRUTINISE
- Unrealistic revenue / growth assumptions (3-4x industry benchmarks without justification)
- Heavy reliance on "indirect / induced" jobs without credible economic study
- Job-creation timeline that runs past the 2-year window without "reasonable" extension
justification
- Capital structure where EB-5 alone exceeds the "needed" amount (overcapitalized projects
raise scrutiny on whether EB-5 funds are actually at risk)
- Pre-existing business (already operating) attempting to claim job creation that pre-dates
the EB-5 investment (must demonstrate "but-for" causation)
- Real estate that primarily generates lease income (USCIS routinely rejects passive real
estate as "not creating qualifying jobs")
DRAFT — for licensed US immigration attorney review; economic study (for RC path) must be from a credentialed economist with verifiable methodology. Verify against current USCIS Policy Manual Volume 6 Part G Chapter 2 and Matter of Ho. Indian context placeholders ([CLIENT_NAME] = Vikram Sharma example) for illustration only — substitute the actual investor profile. Not legal advice. Not investment advice.Unlock the vault to see the full prompt