Proposed legislation for new visa category
Two Senators (John Kerry, D-MA and Richard Lugar, R-IN) recently proposed legislation that would create a new EB-6 visa category for entrepreneurs. The StartUp Visa Act of 2010 would permit an immigrant entrepreneur with a startup venture or business to secure a two year visa if that entrepreneur proves to have a U.S. investor that is capable of investing at least $250,000.
Currently, the EB-5 visa category is the option available to immigrant entrepreneurs and requires either a $500,000 or $1 million investment from the foreign investor (depending on the location of the venture). The new business must also create a certain number of jobs to qualify for the EB-5.
Click here to read the press release about this legislation on Richard Lugar’s website.
Click here to read the press release about this legislation on John Kerry’s website.