If passed, the newly introduced “StartUp Visa Act” would offer a two-year Entrepreneur visa to prospective entrepreneurs who would find a qualified US investor to make investments in their startup venture.

Senator John Kerry, who was amongst the people introducing the act to Congress believes that with the augmentation of global competition for talent and investments, it is essential for the US to nurture at the same pace, else it will be left behind. Additionally, every US business which had job-creating capabilities, commenced, courtesy an idea in the mind of an entrepreneur. Hence, the country needs to ensure of bringing more such ideas in order to provide employments options to more number of Americans.

According to experts, it has been said that the act would curb down the outflow of skilled talent and enhance entrepreneurship in the nation, in an attempt to create more employment options.

In accordance with the new legislation’s, following groups under certain mandates would be given visas:

• Entrepreneurs living outside the US – provided the qualified investor in the US nods to invest in the startup business with a minimum amount of $100,000. After the completion of two years, the business has managed to generate 5 American employment options and either raised more than $500,000 in financing OR the venture has managed to create $500,000 or more on annual revenue basis.

• H-1 workers or graduated in streams (engineering, mathematics, science, technology, or computer science) from American universities – having a minimum of annual income of $30,000 or they must have assets worth a minimum of $60,000, having a qualified American investor ready to invest of a minimum of $20,000 in their business. After twenty four months, the venture must have generated three US employment options and either have raised more than $100,000 in financing or the venture has managed to create $100,000 or more in annual revenue basis.

• Overseas entrepreneurs whose ventures have managed to generate a minimum of $100,000 in sales from the US. After twenty four months, the venture has further given birth to three new US employment options and either have raised $100,000 or more in financing or be producing $100,000 or more on annual revenue basis.

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