The efforts made by the Democratic US representative – Jared Polis from Colorado have led a big support for him by all the tech entrepreneurs in the United States. This would make it easier for all the investors to reside in the US with the help of a visa. It is also being considered as a mode to stop all the foreign born entrepreneurs from leaving the country. In this way, the process which started off the United States could be kept safe in the same country.
This legislation would be introduced next year by Mr. Polis through which he hopes to hinder the custom of the enterprises springing up by in the US but closing down since its originators were not legally allowed to reside on its soil.
During these times of recession, this decision is a streak of lightening since it would help create more jobs in the midst of lay – offs. There are many different visa categories for a foreign national to reside in the US. However, no such category has been prescribed which would allow a foreign – born business man with investor backing to start a US based organization.
The main businesses being affected are the Internet – based set ups where a single individual could devise a concept and raise funds from foreign investors which would help create more jobs.
If the plan proposed by Mr. Polis is implemented, it would bring major amendments in the EB – 5 visas. Under the EB – 5 visas, an investor has to invest a minimum of a million dollars in a US based enterprise. With the current norms in place, more than 80% of it is left unclaimed.
With the new framework in place, all the prospective investors have to be in the form of venture capital firms or individual investors with a minimal of $10 million that they have invested in other businesses.
A concept involves a founder’s visa under which an entrepreneur can invest and reside in the United States and grow his business that would benefit the US economy. This way, he would also be a source for other investors to set up their business on the US land.
Above all, if you are an investor intending to invest in the US economy, it is suggested that you wait for sometime to see if the new bill is passed. If positive amendments are brought about, it would provide a good start for your enterprise. To know more, contact an Immigration and Visa expert who is updated with all the latest in this sector.
