U.S. Visas for Entrepreneurs. Will this be an impossible dream comes true?

Recently, AILA created a short video”The Impossible Dream: U.S. Visas for Foreign Entrepreneurs” and asked for feedback. The idea is to gather feedback in hopes that Congress will, eventually, create visas for foreign entrepreneurs. The video tells a story of ‘Danny’, a young man who came to the U.S. and attended a business school in an entrepreneur program. He was at the top of his class at school and he had already launched his business by the end of the program, but his student visa would expire and he would have no choice but to leave the U.S. Although it is possible that his business could create more jobs (hiring more task force, creating more financial flows to the U.S. economy), a proper visa for him to stay in the U.S. does not exist.  As we all know, foreigners cannot petition himself or herself for an H1B visa (known as the employer sponsorship rule), an employer must be the petitioner. Danny is the owner of the company, so he cannot sponsor himself for an H1B visa.

What the video does not mention is Danny could find another option to stay in the U.S. with a possible opportunity that could turn into a permanent residency. As a foreign graduate under a student visa , Danny could apply for an Optional Practical Training (OPT) and work for up to 12 months without having to apply (and be approved) for an H1B visa. (Since this blog is not about OPT, I will discuss OPT later.) An option with OPT and H1B is a long and difficult process. Shouldn’t there be an easier way to obtain a visa as an entrepreneur?

According to research by the Duke University Master of Engineering Management program, immigrant entrepreneurs founded 25.3% of engineering and technologies companies between 1995 and 2005.  Take a look at the technology companies in Silicon Valley, where it is known to be one of the U.S. hub for technology engineers, more than 50% of businesses there have at least one immigrant as their key founders. So why not have a visa option available to keep these entrepreneurs in the U.S. to create more jobs for the economy?

What AILA is trying to achieve through its video is nothing new. In March 2011, several bills were proposed with hopes to better the U.S. economy and to ease entrepreneur visa eligibility criteria. In 2011, The StartUp Visa Act was proposed, however it was not passed. While several countries in Europe as well as Canada, have long made an entrepreneur visa available for immigrants without the employer sponsorship rule, the U.S. is still struggling and indecisive in passing those bills. Although the new EB-5 investment visa is already in place, the eligibility requirements are high.

Several attempts and ideas from various fields have been poring in to help the U.S. economy get back on its feet. History has also shown that immigration law is definitely a part of it. Each day without this new law could mean the U.S. is losing immigrants and job-creating opportunities to other countries. When will the new Entrepreneurs Visa available? We shall wait and see.

Contact us now to discuss your immigration situations and find out what options may be available to you.