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The EB-5 visa is designed for foreign investors to get a green card if they are willing to bring capital to the US and create at least ten full-time jobs. Unfor
by gruseom 17y ago
The EB-5 visa is designed for foreign investors to get a green card if they are willing to bring capital to the US and create at least ten full-time jobs. Unfortunately, this program applies to the investor who holds the capital, and not the entrepreneur who discovers how to put that capital to use. A small change in the law could have a big impact on entrepreneurship in this country, and that's what [McClure] proposed
If all they did was extend that same provision to founders, it wouldn't do much good, because few early-stage startups create 10 full-time jobs out of the gate. Indeed, that would be an anti-pattern. However, these guys must know that.
- davemc500hats 17y agowe hope to lower both the capital rqmt from $1M to perhaps $250K, and the job creation rqmts from 10 jobs to perhaps 2-3. currently, a modified form of the EB-5 in economically targeted areas requires only $500K, and an equivalently smaller # of jobs. the goal would be to structure the EB-5 modification around the typical seed-round startup investment size & team.
- hymanroth 17y agoThose numbers look good. Makes sense.
- ajju 17y agoAnother distinction is that the EB-5 requires that the person desiring a visa personally invest $1M (not raise it from investors). Additionally, in areas where the limit is lowered to 500K, the person still needs to have a personal net worth of $1M. Linking a founder visa to a personal net worth in high six digits will defeat the purpose of the visa.