If the Startup Act 3.0 is passed by Congress, it has the potential to add up to 1.6 million jobs to the American business landscape over the next decade. Considering the fact that America’s unemployment rate is expected to stay steady at above 7.5% through 2014, the passage of the Startup Act 3.0 would be a major step forward for the U.S. economy. So far, this is the only proposal on the table that creates an Entrepreneur Visa.
Specifics to Come
While Congress continues to work toward immigration reform, the specifics of how a new Entrepreneur validation would be implemented remain up in the air. What can be expected is for a new Entrepreneur Visa to repair what many see as problems with the current validation system. Under current policies, foreign citizens who want to create a business in the United States have the option of doing so under under validation programs that would require the foreign citizen to leave the United States once the business is operational. Other programs which would allow an entrepreneur to remain in the United States for the sole purpose of entrepreneurship require the foreign citizen to show an extraordinary ability or skill in private business through established business efforts or that require the foreign citizen to invest a substantial amount of capital in the U.S. economy.
There is currently no validation program offered by the United States that encourages average entrepreneurs to build a business in the U.S. under an immigrant validation – which is a visa issued to individuals who want to move to the United States for good.
Options for Foreign Citizens
While foreign citizens may be excited about the prospect of an Entrepreneur visa, there may be some who don’t think that they can wait for the government to come up with and implement an efficient Entrepreneur visa program. If this is the case, and if they are able to meet the requirements of any other types of visas aimed at attracting business talent, then foreign citizens should speak with an experienced business visa attorney for help in finding the most appropriate visa to apply for and help with filling out and submitting all of the necessary paperwork.
A Word on Applications
The U.S. government is notorious for holding visa applicants to a high standard – not just personally, but with applications and paperwork as well. When an official from U.S. Citizenship and Immigration Services (USCIS – the agency that reviews visa applications) considers an application, he or she will only consider the information submitted with the application. If the application is completed incorrectly or incompletely, the foreign citizen applying for the visa may be forced to wait even longer for a final visa determination if the application has to be returned and amended. Since many foreign citizens applying for U.S. visas can’t afford to have their applications denied over simple errors, it is always in the visa applicant’s best interests to have the application reviewed and submitted by an experienced visa attorney.