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Finally, a Startup Visa That Works

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Re: Finally, a Startup Visa That Works

#71

Post by tghnjtghn »

huherto wrote: post #66
tghnjtghn wrote: post #38

Earlier quoted context omitted.

Most of the monetary requirements are to stop scams - ie where millionaire's kid bills family company abroad for $100K and gets to stay in the US running his company. It's also the reason for requiring qualified investors - to stop this just being family money recycled. Although it is a bit silly that if you invented say a malaria vaccine and had a $Bn in foreign sales you would be deported!

IMHO, it is in the best interest of the US to let rich people in. They have a big potential to invest or consume.

Depends on what you mean by 'rich' - $1M, $10M, $1Bn ?

There have been classes of investment visa for people bringing $1M into the country. But then people simply used it to buy a house = $1M in some areas. So then there were requirements that it had to be invested in a business, so people formed a company, bought a house and leased it to themselves.

So the politicians upped the $$ requirement, but that leads to different problems. People with $100M in cash are often not very nice citizens - do you want to give Col Qaddafi, Kim Jung whoever, etc a US visa if they bring $100M of their people's money with them? How many of their family/ friends/ associates also get a visa?

Re: Finally, a Startup Visa That Works

#73

Post by tghnjtghn »

gridspy wrote: post #53
noelsequeira wrote: post #47

Earlier quoted context omitted.

The answer depends largely on intent (is the bill meant to be exclusively for startups or are the terms more inclusive) and consequently, on how you define a 'startup'. Let's assume a hypothetical company in operation for 15 years outside the US with > 100000$ in revenue from the US market. 3 American hires now effectively represent an immediate ticket to a Visa for the founders. If I might hazard a guess, there'll b…

If the founders are working in their own company, contributing to the local economy, is this really a problem for the U.S?

I worked for a european company that had a US sales office. It employed a receptionist and a US sales guy. If we added a cleaner the owner of the company now gets a US passport - was that what was intended?

As it happens the owner currently spends the winter there (in Florida) on a three month tourist visa waiver - I suppose having a startup visa might make getting through immigration faster. He has a house, yacht and private plane parked there as well but ironically couldn't get a US cell phone because he didn't have a SSN

Re: Finally, a Startup Visa That Works

#74

Post by jbooth »

iamelgringo wrote: post #56
stefanobernardi wrote: post #7

I just WISH we had such politicians in my country. It is just mind blowing to me that a politician actually took the time to read a TC article and modify a bill accordingly.

Votizen has been doing a lot of the political push on the startup visa issue. And, there's a number of big super angel/VC names that are attached to the movement as well. A lot of those guys are pretty connected. I'm sure that helped.

Eh, this is 100% on Lugar's office and Kerry's office being awesome. "Pretty connected" in Silicon Valley means crap-all in the senate when you have 2 senators from Idaho.

Re: Finally, a Startup Visa That Works

#75

Post by speleding »

noelsequeira wrote: post #13

I'm an Indian entrepreneur, and much as I'd love to see #3 see the light of day, I have this sinking feeling it's just way too ripe for exploitation. Foreign entrepreneurs whose business has generated at least $100,000 in sales from the U.S. Two years later, the startup must have created three new American jobs and either have raised over $100,000 in financing or be generating more than $100,000 in yearly revenue. A…

I agree that it sounds too easy. My startup easily has $100K in accumulated sales from the US, so I would all of a sudden qualify for a visa. That's perplexing if you know how much trouble they made me go through to attend a US university (and send me packing right afterwards).

Then again, even with some abuse of the rules I think this would probably be a good deal for the US economy. Anyone who is able to "fake" $100K in revenues is not likely to go through the trouble to "take away" any blue color job there. You would just get a well educated tax payer for free.

Re: Finally, a Startup Visa That Works

#79

Post by stevefarnworth »

noelsequeira wrote: post #47
HistoryInAction wrote: post #28

Earlier quoted context omitted.

What are some ways that this clause could be misused? I'll pass these examples along.

The answer depends largely on intent (is the bill meant to be exclusively for startups or are the terms more inclusive) and consequently, on how you define a 'startup'. Let's assume a hypothetical company in operation for 15 years outside the US with > 100000$ in revenue from the US market. 3 American hires now effectively represent an immediate ticket to a Visa for the founders. If I might hazard a guess, there'll b…

But surely there'd be less of an incentive to move to the US if you're already successful? Surely the main reason to go to the States is to start and grow, not live there for already established business-people. I don't doubt that the US is a nice place to live, but is it really a dream to move there other than for monetary gain?
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