Startup visa: Create jobs, get Green Card

Startup visa: Create jobs, get Green Card

WASHINGTON - United States Democratic Senator John Kerry and his Republican colleague, Mr Richard Lugar, on Wednesday proposed the creation of a new class of visa for foreign entrepreneurs who create jobs in the US.

The two-year visa would be given to immigrants who show that they plan to invest at least US$250,000 ($353,000) in the country.

The legislation, called the "StartUp Visa Act", would allow immigrant entrepreneurs to apply if their businesses would "create not fewer than five new full-time jobs in the US, employing people other than the immigrant's spouse, sons or daughters".

"Global competition for talent and investment grows more intense daily and the US must step up or be left behind," said Mr Kerry, chairman of the Senate Foreign Relations committee, in a statement.

"Our country should strive to attract to the United States the most talented and highly skilled entrepreneurs," added Mr Lugar. The legislation allows entrepreneurs who create and maintain five new jobs, attract at least US$1 million in additional investments or earn at least US$1 million in revenue to apply for permanent US residency. AFP

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