How to Start a Corporate Immigration Consulting Business

Start a corporate immigration consulting business by following these 10 steps:

1. Plan your Corporate Immigration Consulting Business
2. Form your Corporate Immigration Consulting Business into a Legal Entity
3. Register your Corporate Immigration Consulting Business for Taxes
4. Open a Business Bank Account & Credit Card
5. Set up Accounting for your Corporate Immigration Consulting Business
6. Get the Necessary Permits & Licenses for your Corporate Immigration Consulting Business
7. Get Corporate Immigration Consulting Business Insurance
8. Define your Corporate Immigration Consulting Business Brand
9. Create your Corporate Immigration Consulting Business Website
10. Set up your Business Phone System

We have put together this simple guide to starting your corporate immigration consulting business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.

Exploring your options? Check out other small business ideas.

STEP 1: Plan your business

A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:

• What will you name your business?
• What are the startup and ongoing costs?
• Who is your target market?
• How much can you charge customers?

Luckily we have done a lot of this research for you.

What will you name your business?

Choosing the right name is very important. Read our detailed guide on how to name your business. We recommend checking if the business name you choose is available as a web domain and securing it early so no one else can take it.

What are the costs involved in opening a corporate immigration consulting business?

Entrepreneurs who have launched a successful consulting firm recommend a starting budget of at least $150,000. Items that should be included in your budget include:

• Insurance — Annual premiums could reach as high as $10,000 or more
  
  
• Office facility — Depending upon whether you decide to purchase or lease a space, your initial investment in an office space could cost as much as $40,000
  
  
• Office equipment — Computers, business software, telephones, printers, furniture, and fixtures
  
  
• Marketing materials
  
  
• Website
  
  
• Payroll expenses
  
  
• Licensing and fees
  
  
• Business consultant — While this could cost you anywhere from $1,500 to over $3,000, the guidance your consultant offers could prove invaluable

If you lack the necessary funding, consider all financing options available to you. Remember who your business will serve — if you cut corners on your website or office space, it will show, and your business will suffer the consequences.

What are the ongoing expenses for a corporate immigration consulting business?

In addition to the standard overhead costs of rent/mortgage, utilities, insurance, website management/hosting, and marketing, you will need to maintain a steady cash flow to cover payroll. Additionally, your ongoing expense budget should include travel expenses and ongoing education.

Who is the target market?

Your marketing strategy should be geared towards businesses, particularly corporate enterprises, that are looking to move or expand to the United States. You will need to appeal to the decision-makers, as they are the ones you will be dealing with and who, ultimately, control the budget.

How does a corporate immigration consulting business make money?

Corporate immigration consulting companies are hired by corporations who are considering moving or expanding their businesses to the United States. Fees are negotiated based on the scope of the project and are typically paid out at an hourly rate.

How much can you charge customers?

Established corporate immigration businesses charge a flat fee for basic services and bill hourly for others. Hourly rates range from $150 to $300, and flat fees vary from $250 to over $5,000. Keep in mind that pricing is a delicate balance — if you price too low, people will wonder why; alternatively, if you price too high, potential clients will look to hire another agency.

How much profit can a corporate immigration consulting business make?

If you charge clients $150 per hour and invest 51 hours of work into one client and 46 hours into the other, you will generate over $14,000 in revenue. If your ongoing expenses equal $4,400, your total profit will equal out to almost $10,000.

How can you make your business more profitable?

If you are looking for ways to increase annual profits, consider offering additional immigration consulting services. While corporate immigration may be a focus, you may want to consider helping individuals who are trying to navigate the legal system and legally immigrate to the United States.

STEP 2: Form a legal entity

The most common business structure types are the sole proprietorship, partnership, limited liability company (LLC), and corporation.

Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your corporate immigration consulting business is sued.

You can form an LLC yourself and pay only the minimal state LLC costs or hire one of the Best LLC Services for a small, additional fee.

STEP 3: Register for taxes

You will need to register for a variety of state and federal taxes before you can open for business.

In order to register for taxes you will need to apply for an EIN. It's really easy and free!

There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.

STEP 4: Open a business bank account & credit card

Using dedicated business banking and credit accounts is essential for personal asset protection.

When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil.

Open a business bank account

Besides being a requirement when applying for business loans, opening a business bank account:

• Separates your personal assets from your company's assets, which is necessary for personal asset protection.
• Makes accounting and tax filing easier.

Get a business credit card

Getting a business credit card helps you:

• Separate personal and business expenses by putting your business' expenses all in one place.
• Build your company's credit history, which can be useful to raise money later on.

STEP 5: Set up business accounting

Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.

Make LLC accounting easy with our LLC Expenses Cheat Sheet.

STEP 6: Obtain necessary permits and licenses

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.

STEP 7: Get business insurance

Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.

There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance. This is the most common coverage that small businesses need, so it’s a great place to start for your business.

Another notable insurance policy that many businesses need is Workers’ Compensation Insurance. If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.

Is this Business Right For You?

Do you have a background in corporate immigration? Do you enjoy identifying and resolving complex issues? Are you well versed on the subject of corporate management and finances? If you enjoy helping others achieve their business goals and are ready to invest in a challenging yet rewarding and profitable business venture, launching a corporate immigration consulting business could be the perfect fit for you.

What happens during a typical day at a corporate immigration consulting business?

Helping a business entity immigrate to the United States requires a great deal of work. Once your marketing efforts land you a client, it is time to get to work. More than likely, your business dealings will take you overseas, where you will conduct on-site interviews to gain a clear understanding of their goals and expectations. 

You will need to assess every aspect of the organization, from the scope of the business to its financials and everything in between. All paperwork must be filled out and filed with the appropriate agencies, with adherence to immigration laws as a top priority. All relevant fees should be paid, and all issues must be addressed promptly. Additionally, your clients will likely look to you to ensure all paperwork for migrating employees is filed and that they have access to any resources that might make for a smooth transition.

What are some skills and experiences that will help you build a successful corporate immigration consulting business?

Operating a business of this magnitude requires a highly-specialized set of skills. While not required, many entering this industry have a legal background. At the very least, you will want several years of industry experience before venturing out on your own. Certificates related to immigration are also recommended. If you do not already hold these certificates, you’ll want to consider getting your PERM Labor Certification, the Certified Immigration Consultant & Certified Immigration Forms Preparer certificate, as well as the Immigration Specialist Paralegal Certificate.

While education and industry experience will help build a solid foundation for your agency, there are a number of business and leadership skills needed to launch and manage a successful consulting firm. You will need to be an excellent communicator with strong active listening skills. You must be detail-oriented, organized, and skilled at problem-solving. It is also critical that you be adept at researching and committed to staying current with new laws and guidelines that may affect your clients’ corporate immigration goals.

If you do not have a business background or experience in marketing, consider taking a workshop through your local small business administration or hiring a professional to handle those aspects of your business. This will set your organization up for long-term success and ensure you have enough time to focus on your true passion — helping others achieve their business dreams in the United States.

What is the growth potential for a corporate immigration consulting business?

While we often hear about corporations migrating out of the United States, the number of businesses looking to enter the US has increased dramatically over the last decade. This, coupled with the specialized nature of this field, ensures significant growth and profit opportunities for entrepreneurs considering this business venture.