Mumbai: The home version of ‘America compete acting, 2022’, passed by the US House of Representatives, which aims to improve manufacturing, and create a stronger supply chain for Chinese outcoming, also contains several provisions related to immigration, which will help foreign entrepreneurs and Those who have a doctorate in the stem field.
This creates a new classification of non-immigrant ‘w’ visas for foreign entrepreneurs, their families and ‘important’ foreign workers in such companies.
Icing on the cake is that family members are also eligible to accept work permits.
Furthermore, it also provides a path for green cards that can cause American citizenship.
Entrepreneurs need to have at least 10% ownership in startup, accepted for 18 months before submitting visa applications, and at least $ 250,000 in investing from citizens or US organizations or at least $ 100,000 in awards or government grants.
This startup needs to be formed in the last five years.
Bobby Franklin, the President of the National Venture Capital Association said, “Visa Startup has become our top priority for years and we are happy to see it out of the house.
This concept always enjoys the support of bi-partisan because it allows the world’s leading businessmen to create new companies and jobs at US.
“At present, the US does not have a startup visa (offered by several other countries such as Canada and England).
Conversely, the rules of international entrepreneurs (IER) exist, which allows foreign entrepreneurs who are eligible to live in the US for two and a half years, with the possibility of an extension of a similar term.
The criteria for increasing similar funds, as in America competing act, a minimum of $ 250,000 for US investors who qualified or $ 100,000 from government grants.
After a year holding a ‘W’ visa, America competing allows adjustment to green.
card.
Certain conditions relating to funding, change, job creation in addition to ownership at startup and playing an active role in managing or operating must be fulfilled.
The law also provides a number of green cards that are unlimited to be issued.
For foreign nationals who have obtained a doctorate in science, technology, engineering or mathematics (Batang) from the US High Learning Institute or equal degree from foreign universities.
Couples and children are covered under the version of the green card program without immigration provisions.
They must spur a compromise bill and send it back to each house for new voting, “said Greg Siskind immigration lawyer.