Start-ups are attracting investment and creating jobs in US.

[nancymervin]

A group of lawmakers are looking to reform U.S. immigration law to make it easier for foreign

entrepreneurs to remain in the country if their start-ups are attracting investment and

creating jobs.


Under the terms of the bill, immigrant entrepreneurs will be able to receive a two-year visa

if their start-ups have received at least $100,000 in capital from investors. After two years,

the business must have created at least five new jobs and generated at least half a million

dollars in revenue.

The bill also covers foreign entrepreneurs and graduate students studying math or engineering

on unexpired H-1B visas, as well as those who have generated $100,000 in sales within the U.S.

from their companies.

Rather than authorizing the creation of new visas, the bill is intended to transfer allotment

of existing EB-5 visas, which grants temporary status to foreigners who invest in U.S.

businesses. In 2009, only 4,191 of the allotted 9,940 EB-5 visas were granted.


Applying for US citizenship