| Working as a San Francisco immigration lawyer, I'm | | | | well as my practice as an immigration lawyer. At this |
| interested in how immigration policy may help or hurt | | | | point it's difficult to estimate how many entrepreneurs |
| the struggling economy. A bi-partisan bill, The Startup | | | | may take advantage of this opportunity. |
| Visa Act of 2010, has been introduced by Senator | | | | This could really have an impact on immigration from |
| John Kerry (D- Mass) and Senator Richard Luger | | | | China. A recent article on reported that a MIT study |
| (R-Ind). The bill is intended to assist global | | | | found that China has a higher rate of entrepreneurship |
| entrepreneurs in obtaining U.S. visas. | | | | than Europe and the U.S. They also have a high rate |
| This isn't a simple open door policy. A foreign | | | | of business founders that are focused on high-growth. |
| entrepreneur may be granted a temporary two-year | | | | Those working in the high-growth area are starting |
| visa (presently designated as an EB-6 visa) if they are | | | | companies that have at least 20 employees. |
| able and willing to invest $250,000 in a business that | | | | In recent years, European countries have been |
| they are going to startup. This may lead to a | | | | focusing on encouraging more high-growth |
| permanent visa. | | | | entrepreneurship. Over the past five years, European |
| To be eligible for a permanent legal status, the | | | | countries have been working to create better business |
| entrepreneur must have achieved one of the following | | | | conditions such as tax incentive to encourage |
| after two years: | | | | entrepreneurs. |
| Have created five full time jobs in the U.S. | | | | This bill is designed to bring innovators and job creators |
| Managed to raise $1 million in additional investment | | | | to the country. It's hoped that the U.S. economy, |
| cash. | | | | workers and consumers will benefit from The Startup |
| Generated $1 million in revenue. | | | | Visa Act of 2010. As an immigration lawyer in San |
| It has been endorsed by over 160 venture capitalists | | | | Francisco, I expect to see this law debated as is |
| from around the world. This bill can, of course, have an | | | | always the case with any change in immigration policy. |
| impact on the economy in the San Francisco area as | | | | |