Immigration Alert - New USCIS Initiative Encourages Foreign Entrepreneurs to Invest in U.S. Economy
In hopes of spurring job growth and providing a boost to the U.S. economy, Secretary of Homeland Security Janet Napolitano and the United States Citizenship and Immigration Services (USCIS) have announced a new initiative aimed at attracting foreign entrepreneurs and high skilled workers to invest in, and work in the U.S.
According to Alejandro Mayorkas, director of USCIS, the series of new policy, operational, and outreach efforts will make it “easier for high-skill immigrants to start and grow companies and create jobs here in the United States.” In an August 2 blog post, Director Mayorkas added that as part of the new initiative, the USCIS will take several steps that will make it easier for foreign entrepreneurs and highly-skilled immigrants to invest in the U.S. economy. Those steps include:
- Clarify that immigrant entrepreneurs may obtain an employment-based second preference (EB-2) immigrant visa if they satisfy the existing requirements, and also may qualify for a National Interest Waiver under the EB-2 immigrant visa category if they can demonstrate that their business endeavors will be in the interest of the United States;
- Expand the Premium Processing Service to immigrant petitions for multinational executives and managers;
- Clarify when a sole employee-entrepreneur can establish a valid employer-employee relationship for the purposes of qualifying for an H-1B non-immigrant visa;
- Implement fundamental enhancements to streamline the EB-5 process based directly on stakeholder feedback;
- Launch new engagement opportunities to seek input and feedback on how to address the unique circumstances of entrepreneurs, new businesses and startup companies.
Business owners who are looking to attract foreign investors for their various business ventures can access additional information by visiting the Department of Homeland Security website or by simply clicking here.