I had to apply for an EB5 visa, and since I was opening an office in non-TEA city, Austin, I have to put over 1 million + expenses for it. I'm still in the process of making enough to enter here and open a company, but its hard for people from India. India is not a treaty nation so tech-founders from here have an extremely hard time entering here to start a business.
It's not that hard actually, there are many hacks possible with the current immigration system. I am a tech founder from India, been in US 10 years and funded by a top tier valley VC. My green card application has been in progress forever...So I simply created a LLC and transferred my H1 visa to that. Super low-cost solution, better/cheaper than getting a green card or E2 or any of these funky visas. And this isn't just a fluke, a number of people in a similar situation have applied this hack successfully....
Yup bigger problem is getting the 100k investment in the first place. Most entrepreneur (even highly skilled ones) don't have that kind of luxury / investment to start-with (in developing countries).
Great write-up. Highly appreciated. I hope getting visas for tech founders will get easier going forward. Until then it's invaluable to be able to talk to and read from people who've done it before.
Interesting. I think this will go very well for the US.
As an aside, Australians have access to a H1B alternative, the E-3. The terms are generous and the quota has never been filled in any year. So if you want to be an employee of the US startup, tech firm etc, that's one to investigate.
Thanks a lot! Could you perhaps explain this a bit more in detail:
"The investment has to be made by the people applying for the visa."
Let's say that we're a 2 year old company in a treaty country (EU) with ~$400k in the bank, founders have ~50% of the company. Not having a US company yet. Would this situation require some tweaks before applying for a E2 visa?
Also:
"Your employees can also move to the US under this visa."
Under which circumstances can the (EU) employees transfer? The same time frame as the E2 holder? Would it be sufficient for only one of the two founders to get the E2 visa and let the other move as an employee?
Considering all the annoyance around the startup visa (myself included), this actually seems like a pretty sweet deal.
Are there any negatives that people might miss? Would love if someone could field a few questions...
Can you travel in and out of the US as often as you want while on this visa?
What would be the standard criteria for having the visa renewal approved? Would they need to see revenue growth? Would a stable stream of revenue be sufficient?
Can you start other companies while on this visa?
Can you invest in other companies on this visa?
If you have existing employees from non-treaty countries, can they come?
While on the visa, can you hire new employees from your home country and get them visas?
> Can you travel in and out of the US as often as you want while on this visa?
Yes
> What would be the standard criteria for having the visa renewal approved? Would they need to see revenue growth? Would a stable stream of revenue be sufficient?
You provide them with a forecast and the idea is to meet the goals or show some progress on the project I guess (employees, paying taxes etc) - can tell you more in 2yrs :)
> Can you start other companies while on this visa?
Sure but the visa is connected to the company you made the investment in.
> Can you invest in other companies on this visa?
Think so, why not. If you invest in US companies as an individual the nationality does not really matter (e.g. we're raising under a convertible note from non-US investors).
> If you have existing employees from non-treaty countries, can they come?
Not sure but I guess you have to look for alternatives like H-1B.
> While on the visa, can you hire new employees from your home country and get them visas?
Not 100% sure but it should work; as far as I have heard the visa can be extended to other people employed in the company.
I had one of these visas, and Hans has done a great job of describing the entire process. If anyone from the UK is looking to get an E2, email me and I can put you in touch with a great immigration lawyer in London.
I'm biased, but I think Ting Ni is great (she's in Mountain View if you're in Silicon Valley, but I think remote is fine too). Usually very responsive on email as well: [email protected]. http://tingnilaw.com/profile.html
[+] [-] harrel|13 years ago|reply
[+] [-] surferbayarea|13 years ago|reply
[+] [-] healthenclave|13 years ago|reply
Also on this list : http://travel.state.gov/visa/fees/fees_3726.html
Iran is repeated twice is think it's a typo. Iran in EB1 and India is EB5
[+] [-] tosh|13 years ago|reply
Thanks a ton for taking your time to share this.
[+] [-] jacques_chester|13 years ago|reply
As an aside, Australians have access to a H1B alternative, the E-3. The terms are generous and the quota has never been filled in any year. So if you want to be an employee of the US startup, tech firm etc, that's one to investigate.
[+] [-] yupstak|13 years ago|reply
FYI this visa has existed for over 60 years.
[+] [-] funkymusic|13 years ago|reply
I was dealing with Matthew Schulz at Baker & McKenzie in Palo Alto (http://www.bakermckenzie.com/MattSchulz/) and it worked out pretty well.
[+] [-] filip01|13 years ago|reply
"The investment has to be made by the people applying for the visa."
Let's say that we're a 2 year old company in a treaty country (EU) with ~$400k in the bank, founders have ~50% of the company. Not having a US company yet. Would this situation require some tweaks before applying for a E2 visa?
Also:
"Your employees can also move to the US under this visa."
Under which circumstances can the (EU) employees transfer? The same time frame as the E2 holder? Would it be sufficient for only one of the two founders to get the E2 visa and let the other move as an employee?
[+] [-] yupstak|13 years ago|reply
Are there any negatives that people might miss? Would love if someone could field a few questions...
Can you travel in and out of the US as often as you want while on this visa?
What would be the standard criteria for having the visa renewal approved? Would they need to see revenue growth? Would a stable stream of revenue be sufficient?
Can you start other companies while on this visa?
Can you invest in other companies on this visa?
If you have existing employees from non-treaty countries, can they come?
While on the visa, can you hire new employees from your home country and get them visas?
[+] [-] funkymusic|13 years ago|reply
Yes
> What would be the standard criteria for having the visa renewal approved? Would they need to see revenue growth? Would a stable stream of revenue be sufficient?
You provide them with a forecast and the idea is to meet the goals or show some progress on the project I guess (employees, paying taxes etc) - can tell you more in 2yrs :)
> Can you start other companies while on this visa?
Sure but the visa is connected to the company you made the investment in.
> Can you invest in other companies on this visa?
Think so, why not. If you invest in US companies as an individual the nationality does not really matter (e.g. we're raising under a convertible note from non-US investors).
> If you have existing employees from non-treaty countries, can they come?
Not sure but I guess you have to look for alternatives like H-1B.
> While on the visa, can you hire new employees from your home country and get them visas?
Not 100% sure but it should work; as far as I have heard the visa can be extended to other people employed in the company.
[+] [-] healthenclave|13 years ago|reply
[+] [-] unknown|13 years ago|reply
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[+] [-] tn13|13 years ago|reply
[+] [-] jwb119|13 years ago|reply
[+] [-] olivercameron|13 years ago|reply
[+] [-] subsystem|13 years ago|reply
[+] [-] swohns|13 years ago|reply
[+] [-] jwb119|13 years ago|reply
[+] [-] robot|13 years ago|reply
[+] [-] funkymusic|13 years ago|reply
In the interview at the Consulate we've been really talking about details here I guess especially because we're a quite young startup.
[+] [-] danmaz74|13 years ago|reply
[+] [-] funkymusic|13 years ago|reply