The White House proposes a new immigration policy for entrepreneurs

A new change in the immigration policy of the united states proposed by the White House. In accordance with the setting (International Rule for…
Business – business International Entrepreneur Rule) founders of Startup companies that have received funding from American investors will acquire a period of residence in the country 2 of 5 years, which will be able to receive an extension.
The White House is pushing for the particular setting, considering that the entrepreneurs who come to create their own start-ups in the country, to work and to create jobs, are a “significant public benefit” for the country. To clarify that the White House is trying to pass the setting in the context of Immigration Policy and Nationality (Immigration and Nationality Act), where one can receive a temporary residence permit in the united states either for “urgent humanitarian purposes”, or if the presence of the immigrant leads to a “significant public benefit”.
According to the configuration, the residence permits will have two stages:
– The first will be granted a residence permit for two years, with the condition that the founder holds 50% of the company and has received at least 345.000 dollars from investors in the united states with a history of investment in the country or at least 100,000 dollars from federal, state, or local government agencies. The government may at any time suspend the decision to stay.
– In the second stage, provided an extension of 3 more years. The founders should continue to run their businesses in the united states, to hold 10% of the company, and either to have secured funding of at least $ 500,000 from investors in the united states, either to generate $ 500,000 in annual revenues with a 20% increase or to have established a proven ten jobs in the space of 5 years.
After the lapse of 5 years, the founders will be able to apply for extension of leave to remain in the country in the context of the work. The White House believes that at least 3,000 entrepreneurs could benefit the setting.
The setting is under approval period of 45 days. The Obama administration long been trying to pass the so-called “startup Visa”, but meets obstacles for the opposition, with immigration policy for the founders of a startup is daunting.
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