Wednesday, March 2, 2011

Rachid Sefrioui supports US legislation for the US Startup Visa for Immigrant entrepreneurs

  • To represent the interests of entrepreneurs everywhere— in Silicon Valley, in the US, and around the world.
  • Inspired by posts on the Startup Founder Visa Movement.
  • Make it easier for entrepreneurs to come to the US, start new businesses, and most importantly create more jobs.
The current plan is a proposal to modify the EB-5 visa, in order to enable non-US entrepreneurs with funding from a US investor to get a visa to start a company. 

On Dec 10th, 2009, legislation was proposed by Rep. Jared Polis (D-CO) in the House called the Employment Benefit Act of 2009

On Feb 24th, 2010, this proposal has been joined by The Startup Visa Act of 2010 in the Senate, sponsored by Senators John Kerry (D-MA) & Richard Lugar (R-IN), and is also supported by over 100 US Venture Capitalists and Angel Investors

We hope to have one or both of these bills formally presented to Congress sometime later this year.

Under the proposed legislation, instead of the visa going to an investor, a startup company founder or entrepreneur who receives a minimum equity investment of $250,000 could qualify as an EB-5 visa recipient. At least $100,000 would have to come from a sponsoring US investing entity.

Overall we hope to make it easier for more entrepreneurs to start businesses in the US and create jobs