Lawmakers aim to keep business owners in U.S.
In the business world and among proponents of immigration reform, the recently proposed StartUp Visa Act of 2010 has received astute attention.
The proposal, by essentially expanding the parameters of the existing EB-5 visa program to include entrepreneurs as well as investors, would allow the government to grant a 2 (two)-year visa to a foreign capitalist who can start a business in the U.S. with at least $250,000 in backing, the News-Press reports.
With the announcement of the novel proposal, few analysts have been discussing another investment visa proposal, the E-2 Nonimmigrant Investor Adjustment Act of 2009, which has been introduced in the House.
The House bill aims to make green cards available to foreign nationals who have been in the U.S. for at least five years on E-2 visas and have invested at least $200,000 in a U.S. business that creates full-time jobs.
Nina Mold, an England citizen who owns a beauty salon in Southern Florida, is worried that if she sells her company, she and her two children will be forced to leave the U.S. under current immigration laws.
“I have no path to permanent residency,” she told the news source.
As with the EB-5 visa program and proposal for an EB-6, the Adjustment Act seeks to stimulate the economy by retaining foreign citizens who are able to create jobs through their business ventures.