When Immigration Matters

A New Type of Visa for Immigrant Entrepreneurs?

Posted by Michael Pollak on Mar 11, 2010 7:30:00 AM

In an effort to boost the economy, Senators John Kerry (D-Mass.) and Richard Lugar (R-Ind.), Chairman and Ranking Member of the Senate Foreign Relations Committee, introduced legislation to help immigrant entrepreneurs secure visas to the United States.

The StartUp Visa Act of 2010 will allow an immigrant entrepreneur to receive a two year visa if they can prove that a qualified U.S. investor is willing to dedicate a minimum of $250,000  per company or $100,000 per founder, to the  immigrant’s startup venture.  “Creating a new magnet for innovations and innovators to come to the United States and create jobs here will offer our economy a double shot in the arm – robust job creation at home and reaffirmation that we’re the world’s best place to do business” said Senator Kerry.

The StartUp Visa Act of 2010 would amend immigration law to create a new EB-6 category for immigrant entrepreneurs, drawing from existing visas under the EB-5 category, where foreign nationals who invest at least $1 million or $500, 000 in the case of a target unemployment area or regional center are able to obtain a green card. 

If after two years, the immigrant can prove that they have secured initial investment capital and have generated at least five full-time jobs in the United States, obtained an additional $1 million in additional investment capital or achieved $1 million in revenue, then they would receive permanent legal resident status (Green Card).

Sign in to http://startupvisa.2gov.org/ and show Congress your support for this visa!


Tags: Startup Visa Act, Startup Visa, EB-6 Visa, Immigrant Visas, Immigration

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