WWICS Blog

US Plans New Measures to Attract Skilled Business Migrants
New ‘Startup Visa’ in Pipeline
Posted on: 15 June 2011

The US is planning several measures to lure Skilled Business Migrants so as to boost the economy by attracting foreign investors and entrepreneurs.

One of the most outstanding steps in this direction has been initiated by Michigan that aims at attracting sound investment and Skilled Business Immigrants into the state.

The Global Michigan initiative, spearheaded by Michigan State Governor, Rick Snyder is a scaled up version, which essentially targets the foreign nationals with considerable investment levels and entrepreneurial spirit.

Confirming the development, Amy Cell, Senior Vice-President of talent enhancement at the Michigan Economic Development Corp. said, "This is looking at what is really the best thing for Michigan when you look at the types of opportunities that can come about from immigrants, and the contributions they make in a community."

Furthermore, a bill is currently in the pipeline which if passed would create a "Startup Visa", making entrepreneurship-based immigration easier. This new type of visa would be for immigrants who create startups and jobs in the U.S. It is anticipated that in order to drive job creation in the U.S. and increase American global competitiveness, the existing EB-5 Visa would be modified.

As per the bill introduced for the Startup Visa, immigrant entrepreneurs who are creating new companies to secure visas to come to the United States would be eligible if there is investment capital available from a sponsoring U.S. venture capital or angel investor of at least $100,000 in an equity financing of not less than $250,000.

Also, if, after two years, the immigrant entrepreneur can show that he or she has generated at least five full-time jobs in the United States, attracted $1 million in additional investment capital or achieved $1 million in revenue, then he or she would receive Permanent Legal Resident status.

Appreciating the initiative, Col BS Sandhu(Retd.), CMD, WWICS said, “Business Immigration programs are a popular channel to reach the US and the encouraging initiatives are well received by the aspiring business immigrants who want to diversify and expand their business globally.”