New Us Bill Provides For Visas For Founders Of Startups And Pathway For Green Cards

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New Us Bill Provides For Visas For Founders Of Startups And Pathway For Green Cards
31 Jul 2021
6 min read

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News Synopsis

US Congresswoman Zoe Lofgren announced a bill to encourage immigrant innovators to set up and develop their ventures. Till now, the US does not have any specific visa category for startup founders. Nearly 25 countries have some version of a startup in place, this attracts many entrepreneurs to countries such as Canada, Australia, and Germany. High-skilled immigrants are encouraging the next generation of rapidly growing companies. Startup companies occupy a major space for creating millions of jobs every year. The non-immigrant visa is available for a 3 year initial period to a foreign-born founder who owns at least 10% of the startup. Co-founders can qualify for this visa. If the founder showcases a successful track record, then that person can apply for a non-immigrant visa (Green Card). The LIKE act bill will enable temporary visas for a limited number of employees in managerial or executive positions whose services are essential for the success of the startup and so startups will be saved from the disadvantage of using high skilled visa categories like H IB visas. This bill will attract more foreign-born entrepreneurs.

 

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