21–30 of 121 posts
Reading through it. The gist is you can get 30 months of parole from USCIS if you are a startup entrepreneur that has raised investment. Seems like the threshold is $250k and it can support up to 3 founders. You must own at least 10% to be considered a founder. Looks like you can also get an additional 30 months by raising a further $500k, or having at least $500k ARR with 20% annual growth, or employing 5 US persons…
When was this passed?
it is post-dated next tuesday, I didn't know could post-date a rule
Reading through it. The gist is you can get 30 months of parole from USCIS if you are a startup entrepreneur that has raised investment. Seems like the threshold is $250k and it can support up to 3 founders. You must own at least 10% to be considered a founder. Looks like you can also get an additional 30 months by raising a further $500k, or having at least $500k ARR with 20% annual growth, or employing 5 US persons…
Earlier quoted context omitted.
Is that a problem? Why would we not want more rich people becoming citizens and paying US taxes on their worldwide income?
Of course we would want that, but that's not what we get. The rich pay few taxes and the international rich pay even less, given they already have offshore tax havens by the nature of being from another country. Given a green card allows establishment of US companies which are exempt from some tariffs which are imposed on foreign companies, there's no reason to believe that giving the rich green cards will be a net g…
The rich pay almost all tax.
Earlier quoted context omitted.
Is that a problem? Why would we not want more rich people becoming citizens and paying US taxes on their worldwide income?
Of course we would want that, but that's not what we get. The rich pay few taxes and the international rich pay even less, given they already have offshore tax havens by the nature of being from another country. Given a green card allows establishment of US companies which are exempt from some tariffs which are imposed on foreign companies, there's no reason to believe that giving the rich green cards will be a net g…
They may pay a lower percentage of taxes on wealth gains than middle class or upper middle class, due to being able to delay income realization, lower capital gains taxes, and other means that are more accessible to the rich than the middle class or the poor.
But rich people still tend to pay more taxes than less rich people.
Reading through it. The gist is you can get 30 months of parole from USCIS if you are a startup entrepreneur that has raised investment. Seems like the threshold is $250k and it can support up to 3 founders. You must own at least 10% to be considered a founder. Looks like you can also get an additional 30 months by raising a further $500k, or having at least $500k ARR with 20% annual growth, or employing 5 US persons…
> investors with established records of successful investments
The rich get richer. Established investors get cheap labor, while upstart competitive investors get buried behind an artificial government wall. I wonder if any established investment firms lobbied for that?
When was this passed?
it is a regulatory action, so it was never "passed" per se. https://en.wikipedia.org/wiki/Rulemaking it is post-dated next tuesday, I didn't know could post-date a rule
Federal law says rulemaking isn't valid until 180 days have passed so it kicks in July 17.
All of these rules are to keep federal agencies from changing the rules out from under people, and to give Congress/Courts time to act.
This will be gamed hard by rich people to get into the U.S. Essentially a red carpet side door if you have a slab of cash.
Reading through it. The gist is you can get 30 months of parole from USCIS if you are a startup entrepreneur that has raised investment. Seems like the threshold is $250k and it can support up to 3 founders. You must own at least 10% to be considered a founder. Looks like you can also get an additional 30 months by raising a further $500k, or having at least $500k ARR with 20% annual growth, or employing 5 US persons…
The threshold feels low, especially when compared the the new H1B threshold at 100K. As mentioned earlier, this could be easily gamed.
You are also free to apply for other visas while in the US without affecting your parole.
Reading through it. The gist is you can get 30 months of parole from USCIS if you are a startup entrepreneur that has raised investment. Seems like the threshold is $250k and it can support up to 3 founders. You must own at least 10% to be considered a founder. Looks like you can also get an additional 30 months by raising a further $500k, or having at least $500k ARR with 20% annual growth, or employing 5 US persons…
The threshold feels low, especially when compared the the new H1B threshold at 100K. As mentioned earlier, this could be easily gamed.
Company "invests" 250k into a "startup" who's only job is to "consult" with the parent investor company.
BAM! You've just hired 3 engineers right there, who have completely skipped the greencard line.