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The Act, called the StartUp Visa Act of 2011, provides a two-year United States Visa to entrepreneurs who find a United States investor to invest in their startup business if passed.
“Every job-creating American business started as an idea in the mind of an entrepreneur. We need to keep and bring more of those ideas to our shores where they can put Americans to work. Global competition for talent and investment grows more intense daily and the United States must step up or be left behind,” said Senator John Kerry, one of four people who introduced the act to Congress.
Three new ways would be available for immigrants to obtain or keep United States residency:
Immigrant entrepreneurs who live outside of the United States who have controlling interest of a foreign company that has generated at least $100,000 in revenue within the last year would be eligible for a United States StartUp Visa.
Immigrant entrepreneurs who already have a United States H-1B Visa or who have received a graduate degree in a certain field from a United States University is eligible for a United States StartUp Visa, if they have an annual income of $30,000 and have the backing of a US investor for $20,000.
Immigrant entrepreneurs would be able to get a United States StartUp Visa if they have a US investor who puts a minimum of $100,000 into their venture.
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