Foreign entrepreneurs hoping to establish a business in Arizona and other areas throughout the country may be able to benefit based on a new immigration initiative. The initiative is meant to help the American economy by expanding current immigration options for entrepreneurs from other countries.
The new initiative is being proposed by the U.S. Citizenship and Immigration Services. If finalized, the new rule would give foreign entrepreneurs the ability to apply for temporary permission to be in the United States so that they could establish or scale up a business. Currently, there are many countries that have investment treaties with the United States. Options regarding temporary visas are available for individuals in these countries. However, some countries do not currently have such treaties in place, including the populated countries of India and China, both of which have people who may provide significant benefits if permitted to legally enter the country.
The proposed U.S. immigration law would give the Department of Homeland Security the power to help foreign entrepreneurs come into the country. Entrepreneurs would qualify for the program if they have an ownership interest of a startup company of 15 percent or more and have an active and central role regarding the operation of the business which was formed in the United States for at least three years. Additionally, the entrepreneur must be able to present compelling evidence of the potential for the business to create rapid growth and jobs. Those approved will be able to stay in the United States for two years to oversee the business with a possibility of extending this stay.
Individuals who are interested in seeking legal status in the United States may choose to talk to an immigration lawyer. He or she may be able to discuss options that are available based on current immigration laws.