PROPOSED STARTUP VISA FOR FOREIGN-BORN ENTREPRENEURS
February 3rd, 2015
Senators Jerry Moran (R-Kan.) and Mark R. Warner (D-Va.) have recently introduced a fourth version of the original “Startup Act, “ a bill that in part features U.S. Immigration reforms meant to attract and retain foreign-born entrepreneurs. The Startup Act would allocate up to 75,000 new visas to noncitizens who are willing to start businesses here in the U.S. After three years, those business owners who were able to meet specific employment and investment targets would be given the opportunity to stay in the U.S. permanently. The bill also proposes a new visa category for up to 50,000 foreign-born students who graduate from U.S. universities in “STEM” fields (or those fields related to science, technology, engineering or math). The bill’s supporters hope that the above key reforms will help attract entrepreneurial high-skilled immigrants which will in turn fuel economic growth and create jobs for Americans.
More information about the proposed Startup Act can be found here.