For Career news, Resume tools, Interview questions, Career advise, CV tips, etc

Thursday, March 17, 2011

Get an investor and obtain a US visa

Image: winnond / FreeDigitalPhotos.net



Three American Senators (John Kerry, Richard Lugar and Mark Udall) recently introduced a legislation in the Congress which if passed would instantly provide a 2 year US visa to any active entrepreneur. This is in the hardships of obtaining an H-1B visa, the rules of which have been made more tough.


"Every job-creating American business started as an idea in the mind of an entrepreneur. We need to keep and bring more of those ideas to our shores where they can put Americans to work. Global competition for talent and investment grows more intense daily and the United States must step up or be left behind," said Kerry.
The StartUp Visa Act of 2011 will allow an immigrant entrepreneur to receive a two-year visa if he or she can show that a qualified US investor is willing to invest in the immigrant's start-up venture. This would amend immigration law to give immigrant entrepreneurs three new options for entry or retention of residency.

Under option one, immigrant entrepreneurs living outside the US would be eligible to apply for a StartUp Visa if a qualified US investor agrees to financially sponsor their entrepreneurial venture with a minimum investment of USD 100,000.

After two years, their business must have created five new jobs and raised not less than USD 500,000 in additional capital investment or generate not less than USD 500,000 in revenue.

Under option two, immigrant entrepreneurs currently in the US on an unexpired H-1B visa; or immigrant entrepreneurs currently in the US who have completed a graduate level degree in science, technology, engineering, math, computer science, or other relevant academic discipline from an accredited United States college, university, or other institution of higher education would be eligible for a StartUp Visa.

For this, they must demonstrate annual income of not less than roughly USD 30,000 or the possession of assets of not less than roughly USD 60,000; and have proven that a qualified US investor agrees to financially back their entrepreneurial venture with a minimum investment of USD 20,000.

After two years, their business must have created three new jobs and raised not less than USD 100,000 in additional capital investment or generate not less than USD 100,000 in revenue.

Under option three, immigrant entrepreneurs living outside the US would be eligible to apply for a StartUp Visa if they have controlling interest of a company in a foreign country that has generated, during the most recent 12-month period, not less than USD 100,000 in revenue from sales in the US.

After two years, their business must have created three new jobs and raised not less than USD 100,000 in additional capital investment or generate not less than USD 100,000 in revenue.

Search This Site

Google+ Followers

Contact Form

Name

Email *

Message *