Friday, October 23, 2009

Startup Visa

There are many people around you who have great ideas, and given the opportunity can create successful companies that not only churn out great products but provide employment to many. But many of these bright individuals don’t start their own companies, not because they don’t want to, but because they are forbidden by law. These are immigrants from different parts of the world on employment visas residing in US. The visas rules expressly forbid them from starting their own business. Their revenue stream has to be tied to the employer that sponsors the visa.

There is a category of visa called EB-5 which is for immigrant investors. But it requires the entrepreneurs to invest $1 million of their own money. Since the cost of startups has gone down drastically and with the availability of venture funding, this rule makes little sense. A group of entrepreneurs are trying to change that. was created by Eric Ries, Dave McClure, and Shervin Pishevar to help raise awareness and change policy around the EB-5 visa, which enables investors from other countries to get a visa in exchange for starting a business in the US with $1M in investment capital and creating 10 US jobs (or $500K for economically targeted areas).”


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1 comment:

  1. Thanks for this blog. It was very informative because it was inform me to know the best information about startup.