The Department of Homeland Security (DHS) has proposed new measures to help startup founders develop their companies in the US, reports AIN.UA (RU).
While the new rules have not yet been triggered, the current proposals will apply under discretionary arrangements where a startup entrepreneur can demonstrate the following:
- Who have a significant ownership interest in the startup (at least 15 percent) and have an active and central role to its operations;
- Whose startup was formed in the United States within the past three years; and
- Whose startup has substantial and demonstrated potential for rapid business growth and job creation, as evidenced by:
- Receiving significant investment of capital (at least $345,000) from certain qualified U.S. investors with established records of successful investments;
- Receiving significant awards or grants (at least $100,000) from certain federal, state or local government entities; or
- Partially satisfying one or both of the above criteria in addition to other reliable and compelling evidence of the startup entity’s substantial potential for rapid growth and job creation.
Under the new rules, an entrepreneur would be granted a visa for an initial two-year period. The visa can be extended a further three years upon demonstrating the company continues to enjoy inward investment, increased revenue and/or is providing expanded job opportunities.
Max Levchin (a native of Ukraine), co-founder of PayPal, Affirm, Glow, and Slide, sent message to White House, stating the new rule “makes it easier for the world’s best and brightest immigrant entrepreneurs to start the next great companies in the United States.”