Senate Immigration Proposal Could Boost Economy

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On March 14, 2011, Democrat Sen. John Kerry of Massachusetts and Republican Sen. Richard Lugar of Indiana introduced the StartUp Visa Act for legislative consideration, noting that the bill would facilitate the importation of new business into America by making new permanent residence visas available to qualified start-up entrepreneurs.

This legislation would create a permanent residence card (called an EB-6) that would be available only to foreign entrepreneurs who can demonstrate a $100,000 domestic investment (a previous version of the bill required $250,000) and the likely creation of five full-time jobs in the U.S. over two years or an additional investment of $1 million or the attainment of $1 million in revenues in that time.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Ronald Shapiro | Attorney Advertising

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