Thursday, January 31, 2013

Start Up Visa Act of 2013, S. 189, Entrepreneur Immigration Bill Reintroduced in the Senate

Republican Senator Mark Udall of Colorado reintroduced S.189 yesterday, co-sponsored by Republican Senator Jeff Flake of Arizona, to establish an employment-based immigrant visa for alien entrepreneurs who have received significant capital from investors to establish a business in the United States. Sen. Jeff Flake is also playing a role in the Senate for CIR. 

This piecemeal immigration bill is likely considered in the CIR. As we reported earlier, Republicans may introduce a number of piecemeal immigration reform bills in both the Senate and the House. These piecemeal bills have slim or no chance to be passed in both Houses unless it is considered within the context of the CIR until the CIR legislation is resolved this year.

According to the sponsor, this bill will allow immigrant entrepreneurs and foreign graduates of U.S. universities to appeal for a two-year visa on the condition that they secure financing from a qualified U.S. investor and can demonstrate the ability to create jobs in America. 

If they are successful in developing their company and hiring American workers, they would be eligible for legal permanent residency and would be free to continue building their companies, creating more home-grown jobs and continuing our legacy of unmatched innovation and entrepreneurship. 

According to him, while we try to work out a solution to our broken immigration laws, our foreign competitors are catching up and, in some cases, passing us by in many of the fields we once dominated. In 2009, for the first time in recent memory, foreign innovators were awarded more patents than Americans pioneers. Only a decade earlier, U.S.-based entrepreneurs were awarded almost 57 percent of all patents worldwide. 

The Startup Visa Act of 2013 is allegedly a strong and simple step that will reward foreign innovators, pioneers and entrepreneurs for creating jobs in America.

Full Text Of The Bill: http://thomas.loc.gov/cgi-bin/query/z?c113:S.189: 

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