Mar
15
2010
Getting Closer to a Startup Visa
I've seena flurry of articles and blog posts in the month about progress being made to getting a startup visa. If a proposed law now before Congress (HR 4259) passes, it would create an EB-6 category visa to allow immigrant entrepreneurs to enter the country and start businesses under certain conditions.According to BusinessWeek:
The StartUp Visa Act would create a new type of two-year visa, called an EB-6, available to any immigrant entrepreneur who has secured at least $250,000 in capital from accredited venture capitalists or angel investors. After two years, the person would become a permanent U.S. resident if his or her business has met one of three criteria: created five full-time jobs in the U.S., raised an additional $1 million from investors, or achieved $1 million in revenue.
Inc.com puts the dollar figures lower.
Senators Kerry and Lugar have co-sponsored a the bill in the Senate.
About 25% of publicly traded firmed that were started with venture capital funds were co-founded by immigrants to the US. Examples include Google and Yahoo.
Entrepreneur | admin | 15 March 2010 |
