Obama’s Startup America Policy Initiative
In 2011, President Obama launched the policy initiative “Start Up America,” in which he set forth a number of provisions that are directed at attracting and accelerating the growth of job creating entrepreneurs, including provisions to eliminate barriers for foreign entrepreneurs. The following are some of the “Start Up America” provisions that help foreign entrepreneurs:
- Expanding the category for H visas (for professional employees) and Green Card EB-2 visas (generally reserved for individuals with advanced degrees) to include immigrant entrepreneurs.
- Allowing immigrant entrepreneurs to qualify for a National Interest Waiver under the EB-2 immigrant visa category (to apply directly for a green card without going through a preliminary petition with the Department of Labor), if they can demonstrate that their business endeavors will be in the national interest of the U.S. (i.e. by creating employment, etc.)
- Expanding the Premium Processing Service (expedited application processing) to include immigrant petitions for multinational executives and managers, such as, immigrant entrepreneurs opening new offices or subsidiaries in the U.S.
- Streamlining the intake and review process for EB-5 visas (available to large investors).
These provisions can facilitate the immigration process by creating new options for entrepreneurs that have been otherwise unavailable. With the “Start Up America” initiative, the government’s executive branch has shown that it values the economic benefit that foreign entrepreneurs bring to the U.S. Indeed, after the positive results observed in its first year anniversary, the government has committed itself to continuously improving this initiative.
E Visas or Investor Visas: https://www.fitzgeraldlawcompany.com/faq/e-visas-investor-visas/