With the continual uprising of near financial crisis throughout America, the White House has decided to ‘clarify’ some of their green card policies pertaining to foreign business owners and entrepreneurs.
Various politicians have proposed similar bills that would make it easier for start-up business owners to obtain their visa for U.S. Citizenship in recent years, but this is the first of it’s kind to be accepted.
Technically, the White House has stated that it is not changing or altering any of it’s visa regulations, but instead making more clear the laws that are already in place. Hoping to attract more business from abroad, U.S. CTO, Aneesh Chopra announced the clarifications at a jobs forum in Silicon Valley on Tuesday.
Chopra explained how America has already had in place an employment green card that is sponsored by your employer, but the new changes to the H-1B visa will now allow business founders to sponsor themselves and become registered citizens.
An EB-2 green card has already been in existence for many years and is available to business founders who will have to report to a board of directors. Since you are not in absolute control in this situation, it is possible to distinguish the difference between your ownership and employment by the company. Applicants for the EB-2 visa will have to prove their possession of some sort of advanced degree or talent that is “a degree of expertise significantly above that ordinarily encountered in the sciences, arts, or business,”
Additionally, EB-5 green cards provide immigrant business founders with a visa as long as their business has a start-up investment of $500,000 and will create at least ten new jobs for Americans. The first two years of residence under an EB-5 green card will be provisional and must allow for the USCIS to investigate into the jobs you have created.
Although The White House has repeatedly clarified the fact that no laws or policies are actually changed, the entire system will now be much easier to work with. Considering that only about half of the EB-5 visas issued every year are used, it is very apparent that the system does not work as smoothly as planned.