The start up visas act has been introduced in the senate. This should come as good news to you, if you are a non-American entrepreneur who is keen on setting up a company in the USA. It should also come as good news to you if you are a supporter of American immigration reforms in general.
If the start up visas act is eventually passed, it will be possible to gain entry into the United States on the basis of being an entrepreneur. It will also be possible to eventually gain United States citizenship.
As we mentioned earlier, this is a reintroduction of the act. That is to say that the act has previously been introduced, unsuccessfully. In fact, that has happened two times before. This is the third attempt at getting this act to be passed.
If the start up visas act is passed, it won’t open the gates ‘for all sorts of people’ claiming to be entrepreneurs to enter the United States and eventually become citizens. As a matter of fact, this will be one very tricky visa to take advantage of, if the act is passed. Thing is, to benefit from the Start Up visas, you will need to be more than just a self-proclaimed entrepreneur. You will need to be a proven entrepreneur. In this context, the proof of entrepreneurship is to be found in several things.
- Firstly, it is to be found in the amount of capital you are able to marshal from investors.
- Secondly it is to be found in the number of jobs you are able to create, through your entrepreneurial ventures.
- And thirdly it is to be found in the amount of revenue you are able to generate through your ventures. In a nutshell, you will need to have received (at the very least) a hundred grand from investors in two years, and created at least five jobs in two years, to get the start up visa. The alternative to having created at least five jobs is to have generated at least $500,000 in two years. Clearly, only people with top-notch entrepreneurial acumen will be in a position to take advantage of the start up visas, if the act is passed as it is.
It is also worth noting that the start up visas won’t, by themselves, be giving people the chance to set foot in the United States, if the act is passed. Rather, to take advantage of these start up visas, one will need to (already) have the temporary working visa H1-B. To alternative to having the H1-B visa, if you want to benefit from the start up visas (if the act passes) will be that of having a recognized degree in engineering or in a scientific field.
The start up visa is clearly a visa that will only be available to innovative people who can add real value to the lives of American people.