There is no rule requiring a feasibility study, however, the program requires that a business plan be 'credible' and a feasibility study goes a long way in that regard by providing independent, third party validation of important things like demand, revenue assumptions, competitive profiling and the overall market picture. We here of more and more requests these days from USCIS for feasibility studies.
Beyond the program rules, feasibility studies are becoming more and more common in EB-5 and therefore from a marketing perspective, a project is at a disadvantage if they do not have one as the investor must rely on what they can perceive as a biased view (i.e. that of the project owner) for many 'credibility' elements.
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