Latest version of US Startup Visa Bill interests NRIs

United States, 24th May: New US Startup Visa version is inviting increased interest from a large number of NRIs.

It is being considered as a vital step for removing a main hurdle in the way of many US Startup Visa aspirants.

The bill, if approved, will be significant for international students with a degree in Science, Technology, Engineering and Maths. It will enable such foreign students to get a US Green Card as they graduate. The only requirement for such foreign students seeking a US Green Card will be to generate a minimum of five full-time jobs in the US in a period of two years.

New US Startup Visa Bill targets boost in US development—The new version of US Startup Visa Bill has been drafted by US Senators Richard Lugar(R-Ind) and John Kerry (D-Mass) aims to boost US economy. Speaking about the US Startup Visa Act of 2010, Senator Lugar stated that the aim is to formulate a way to assist the best and the brightest individuals with entrepreneurial minds to come to the US and create jobs here.

Shortage of skilled talent in the US--The US continues to face severe shortage of required talented and skilled workforce, especially those having experience in engineering field. And the fact that better economic scenario in nations like India as well as China is attracting IT professionals to move back to their respective nations is making things even difficult for the US.

According to figures made available from the Chinese Ministry of Education, there has been an increase of 25 percent in the number of Chinese returning to their homes in the year 2010 as compared to the figures of 2009.

New US Startup Visa Bill lowers requirements—Several changes in the new US Startup Visa Bill have been introduced to make the requirements more relaxed for foreign investors. The previous process has been really difficult for creating new companies and new jobs in the US, admits an NRI, wanting to remain anonymous.

• The new plans are more realistic as the minimum investment being brought down to $100,000.

• Moreover, those with a graduate degree in STEM((Science, Technology, Engineering & Maths) and with either possessing assets worth $60,000 or a yearly income of $30,000 will be eligible for such visas provided a qualified American investor is ready to invest a minimum of $20,000.