United States, 14th February: A new US immigration bill is targeting to welcome an increasing number of foreign born entrepreneurs to the US.
Named Startup Act 3.0, the bill, if approved, will lead to creation of nearly 125,000 high skilled US visas.
New US Startup Act 3.0 will create 125,000 high skilled US visas for allowing more foreign born entrepreneurs to come and live in the US.
US ‘Startup Act 3.0’- a welcome for foreign entrepreneurial talent—If you are planning to move to the US and start up new business there, you could soon have new simpler immigration norms. This is exactly what the new bill named ‘Startup Act 3.0’ aims to get.
The bill, if it becomes legislation, will make things a lot more easier for foreign-born talented entrepreneurs looking to immigrate to the US. A group of US Bipartisan Senators led by Senator Jerry Moran aims to enable foreign entrepreneurs live in the US for a period of three years initially subject to certain conditions.
These conditions include employing a minimum of five workers (full-time workers who must not be family members).
Holders of US H-1B visas, US F1 visas eligible for applying—Yet another great welcoming step will be that as per the Startup Act 3.0, those having US F1 visas or US H-1B visas will be eligible to make applications for such US Entrepreneur visas. However, for this, they must be employing a minimum of two people presently and need to have raised a minimum of $100,000 funds.
An annual quota of 75,000 US entrepreneurial visas would be set aside for holders of US H-1B or US F1 visas.
Giving details about the new act, Senator Moran said foreign-born entrepreneurs having an idea and ready to invest funds in the US are welcome to the US.
New five-year US visa for foreign STEM students—Another good news is that the bill will also lead to creation of a new US five-year visa for international students in STEM (Science, Technology, Engineering and Mathematics) disciplines who get employment in any technical field.
Such international students will be required to get US residency and preferably US citizenship after a period of five years. The Startup Act 3.0 aims to allow 50,000 international students with STEM degrees to live in the US for five years.