The United States Citizenship and Immigration Services (USCIS) has proposed a new two-year temporary visa program for foreign investors. The entrepreneurs with 15 percent stake in the U.S. firm and active role in operational activities can apply for this visa under this category.
Potential startups which receive $345,000 investment from U.S. investors or the companies formed in last three years and have received grants worth $100,000 in last three years are eligible for this program.
Initially, the visa will be issued for two years and later would be extended if the business shows “a significant public benefit as evidenced by substantial increases in capital investment, revenue or job creation.”
Tim Ryan, co-founder, and treasurer at Startup San Diego sharing his opinion on this Visa said that it would stop a “brain drain” of international students.
The students who acquire US degrees go and start a business in some other nations, as the rules do not permit their further stay in the United States. He said that investment requirement is enormous and between $200,000 or $250,000 would be appropriate for this program.
Ryan said, “Overall, something needs to be done, and this is an excellent step in the right direction.