This paper presents a self-consistent model of plasma polarization around an isolated micrometer-sized dust particle being under the action of an external electric field. It describes ion focusing and wake formation for dust particles with different radii and external electric fields. It is shown that despite the formation of wake, plasma maintains a quasi-neutral condition around a negatively charged dust particle, and the volume charge formed as a result screens the dust particle completely. It is also shown that in the external electric field, the dipole moment of the part of the ion nearest to the dust particle is proportional to the dust particle charge. As the external electric field increases and reaches some threshold value, a positive peak appears in plasma potential downstream of the dust particle. It then increases linearly and shows a broad maximum.