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USCIS Proposes Rule to Welcome International Entrepreneurs

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Re: USCIS Proposes Rule to Welcome International Entrepreneurs

#51

Post by tlb »

xyzzy4 wrote: post #17

How about a rule to welcome anyone who isn't a criminal?

In case you're not joking: it depends greatly on what country they're coming from. In countries without a strong rule of law, you can be a very bad person without ever being convicted of a criminal offense. And in other countries, good people are given criminal records for things we approve of, such defending human rights or religious freedom.

USCIS can't really go interview lots of people for each decision to decide who's "good". They mostly have to rely on submitted documents, and there's no document you can submit to provide high confidence you're not a criminal.

Re: USCIS Proposes Rule to Welcome International Entrepreneurs

#52

Post by gjkood »

seanmcdirmid wrote: post #45
gjkood wrote: post #44

Earlier quoted context omitted.

I am not implying it is the best option for everybody trying to come and set up in the US, but for hardware companies there are better options than the US. In fact there are US based hardware accelerators[1] that encourage and facilitate setting up in Shenzhen for a short while so that you can be close to your eventual supply chain. Coming and setting up in the US is no easy matter for people of Indian or Chinese ori…

Is setting up in she Shenzhen any easier for foreigners? I wouldn't be surprised if it was harder.

I have been using a book called 'the Shenzhen insider's guide' [1] as a reference to help me understand what I need to do to setup something there. There is an entire chapter 'Business in Shenzhen' that lays out the groundwork needed to setup operations in Shenzhen and the different types of entities allowed to do business there. There may be advantages to having a Chinese partner in the setup.

I am currently only at the investigative stage. I will let you know as soon as I know more about bureaucratic obstacles.

1. https://www.amazon.com/Shenzhen-Insiders-Guide-Never-Ever/dp...

Re: USCIS Proposes Rule to Welcome International Entrepreneurs

#53

Post by _delirium »

bozoUser wrote: post #21

Great news for all the non-US budding entrepreneurs. Founders have to satisfy either of 3 criteria stated - 1. $345K from private investors. 2. $100k from govt or Federal entities. 3. partially satisfying the above criteria(up for a toss with uscis). Some nascent YC potential companies might still loose out but nevertheless theres some glimmer of hope. Hope the rule gets published.

#2 is interesting for university spinoffs, since it'd mean one way for PhD students to stay post-graduation is to get an STTR or SBIR grant for a spinoff company based on their thesis work.

Re: USCIS Proposes Rule to Welcome International Entrepreneurs

#55

Post by chrisper »

vmarsy wrote: post #9

It looks like this rule would provide the entrepreneur a 5 year stay (2+3 additional if the start-up is doing well), but I don't see any mention of granting a green card, so what would happen to that entrepreneur on year 6? EDIT: from the medium link posted in another comment by yurisagalov: > DHS will also publish guidance to clarify when entrepreneurs may self-petition for lawful permanent residence (also known as…

It appears, it has the same issue as H-1B visas. At least in my opinion.

If your business fails and you invested 5 years of your life, you are kicked out of the country and have to move your family and everything back to wherever you came from. This big uncertainty of the future is, in my opinion, a huge negative of both H1B and this parole.

Re: USCIS Proposes Rule to Welcome International Entrepreneurs

#56

Post by runesoerensen »

Relevant essay: http://paulgraham.com/foundervisa.html

In 3-5 years we'll probably hear founders tell stories about how this new rule allowed them to establish very successful companies in the US. That should help prove the value of a proper founder visa and (assuming the immigration system is still broken at that time) pass legislation to fix it.

Re: USCIS Proposes Rule to Welcome International Entrepreneurs

#57

Post by vthallam »

a13n wrote: post #43
vthallam wrote: post #37

A great start for sure. >Receiving significant investment of capital (at least $345,000) from certain qualified U.S. investors with established records of successful investments Not sure what does the qualified US investors mean though. Would seed funding/angel funding from individuals not be considered for this? I guess this has been added to avoid abuse by wealthy foreigners, but how do they determine the qualified…

I would guess you have to be an accredited investor and have some history investing in startups. Accredited Investor: - net worth, or joint net worth with the person's spouse, that exceeds $1 million or - income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year

Guess this should be the case.

Re: USCIS Proposes Rule to Welcome International Entrepreneurs

#58

Post by runesoerensen »

slededit wrote: post #29
keerthiko wrote: post #27

Earlier quoted context omitted.

Having a visa didn't really make this particularly better for me, and at the end of the day being able to get/stay in and just work when you want to work is a damn sight better than what many people (like me) have had to go through in recent years to start a company.

Sure, it's better than nothing. That doesn't change the fact this is one more twist in an already Kafka-esque system. In the old days when this country's government worked you'd see a new visa category created and USCIS able to keep processing times within reason. Nobody should take this proposal as an example of the system working.

> Nobody should take this proposal as an example of the system working.

I certainly agree, but it's a great example of how hacking a broken system works :)

"And while there is no substitute for legislation, the Administration is taking the steps it can within existing legal authorities to fix as much of our broken immigration system as possible" https://medium.com/the-white-house/welcoming-international-e...

Go Obama!

Re: USCIS Proposes Rule to Welcome International Entrepreneurs

#59

Post by serge2k »

chrisper wrote: post #55
vmarsy wrote: post #9

It looks like this rule would provide the entrepreneur a 5 year stay (2+3 additional if the start-up is doing well), but I don't see any mention of granting a green card, so what would happen to that entrepreneur on year 6? EDIT: from the medium link posted in another comment by yurisagalov: > DHS will also publish guidance to clarify when entrepreneurs may self-petition for lawful permanent residence (also known as…

It appears, it has the same issue as H-1B visas. At least in my opinion. If your business fails and you invested 5 years of your life, you are kicked out of the country and have to move your family and everything back to wherever you came from. This big uncertainty of the future is, in my opinion, a huge negative of both H1B and this parole.

If you have a path to a green card then 5 years is a pretty solid amount of time for most places (not india/china).

If they made it a separate quota for entrepreneurs then you could get most people a green card within that timeline.

Re: USCIS Proposes Rule to Welcome International Entrepreneurs

#60

Post by cft »

vmarsy wrote: post #9

It looks like this rule would provide the entrepreneur a 5 year stay (2+3 additional if the start-up is doing well), but I don't see any mention of granting a green card, so what would happen to that entrepreneur on year 6? EDIT: from the medium link posted in another comment by yurisagalov: > DHS will also publish guidance to clarify when entrepreneurs may self-petition for lawful permanent residence (also known as…

This is an unexpectedly sane step from Washington. In five years here a capable entrepreneur will find a way to get a green card.
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