According to Paul Haarman, The United States is one country that has never-ending opportunities for people who have a unique idea and want to launch their startups. Investors and entrepreneurs aiming to launch a startup or a new business must sort out their options as it is not easy to do the same. Many top investors often choose the EB-5 immigration program that allows foreigners to obtain a green card. However, there is a condition according to which the minimum investment value has to be $900000.
Choosing the EB-5 program is not everyone’s cup of tea, especially for new entrepreneurs or investors looking to establish themselves through their startups. So, what are the suitable options for them to immigrate to the United States? Two well-known options can work very well, namely, L-1 and E-2 visa programs. Contemplated as the most suitable option, these visa programs don’t require anyone to invest too much to immigrate to America. Both immigration programs mentioned earlier have their benefits, and one must go through both of these programs to choose an ideal option.
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What is the Suitable Visa Program?
The Suitable Visa Program is a special immigration program designed to attract highly skilled workers, entrepreneurs, and investors to the United States. Established by Congress, the program aims to boost American innovation, economic growth, and global competitiveness by facilitating the immigration of talented individuals who can contribute to key industries.
Unlike other US work visas like the H-1B, the Suitable Visa Program is not tied to a specific employer or job offer. Instead, it allows qualified immigrants to enter the US to seek employment or start a business. The program has an annual cap of 100,000 visas, with slots allocated based on a points-based system that prioritizes factors like education, work experience, age, and English proficiency.
What Are the Two Best US Immigration Programs for People Aiming a Startup?
L-1 Visa Program
The L-1 Visa program is only available to business executives or managers who have served a different company for a minimum tenure of one year outside of America. This is the first qualification criteria to immigrate to the United States to run a new startup or manage an existing business.
Some other qualifications that would improve the chances of qualifying for the visa program are that the business executive seeking the immigrant visa has more than one year and has at least five employees working under them and that the executive should be a regular taxpayer. The L-1 immigration program provides a visa to valid applicants for seven years from the date of issue.
E-2 Visa Program
The E-2 Visa program is an ideal option for anyone with a proper business plan and their country and the United States hold an investment treaty. Unlike the L-1 program, the E-2 program doesn’t seek any past existence of a business executive but is only interested in the business or investment plan the business executive presents. This immigrant program provides a working visa for five years with a chance for an extension.
SV-3 Visa
The SV-3 visa is reserved for immigrants with truly exceptional talents in the arts, sciences, business, education, or athletics. Applicants must either have won a major internationally recognized award (Nobel Prize, Olympic medal, etc.) or provide extensive evidence of their outstanding achievements and expertise in their field. SV-3 visas are valid for up to 5 years with the possibility of extension.
International Entrepreneur Program
This immigration program is a special one as one can only qualify for this one if Homeland Security decides to grant an authorized stay in the United States temporarily. This program is suitable for investors and entrepreneurs who have an excellent track record in the past and have a business plan that proves to be of benefit to the public. The duration of an immigration visa is not fixed and depends upon every case individually.
The business executives who are successful in obtaining any of the above visas can bring their families too if they don’t have any past criminal records. Also, one can apply for a green card after arriving in the United States. Paul Haarman says that the approval of the application for these immigration programs is given easily if the business plan is an innovative one, the business plan invests a lot of money or if the business provides employment opportunities.
Application Process
Applying for the Suitable Visa Program involves several steps:
- Determine Eligibility: Review the requirements carefully to ensure you meet the criteria for your desired visa category.
- Gather Documentation: Collect all necessary documents, including educational credentials, work references, test scores, financial statements, and any required testimonials or portfolios. All foreign documents must be translated into English.
- Complete Online Application: Fill out the DS-160 online visa application and pay the processing fee ($500 for most categories). Schedule an appointment at your nearest US embassy or consulate for the visa interview.
- Attend Visa Interview: Bring all original documents to your visa interview. Answer questions honestly and clearly emphasize how your skills and experience will benefit the United States.
- Wait for Decision: Visa processing times vary but typically take 2-3 months. You will be notified by email once a decision has been made.
- Prepare for Arrival: If your visa is approved, finalize your travel arrangements and begin your new chapter in the United States!
Life in the US on a Suitable Visa
Once you arrive in the United States on a Suitable Visa, you’ll have the opportunity to pursue your professional goals and build a new life. Some key things to keep in mind:
- Employment: SV-1 visa holders must maintain employment with their sponsoring company or another employer in their field. SV-2 entrepreneurs must work diligently to establish and grow their businesses. SV-3 individuals have more flexibility but should still actively pursue opportunities aligned with their exceptional abilities.
- Dependents: Spouses and children under 21 may accompany Suitable Visa holders on dependent visas (SV-D). Spouses are eligible for work authorization but must apply separately.
- Pathway to Permanent Residence: After 3 years on a Suitable Visa, holders may apply for permanent resident status (a Green Card) if they meet certain criteria, such as maintaining a clean criminal record and demonstrating ongoing contribution to their field.
Conclusion
The Suitable Visa Program offers a unique and exciting opportunity for talented immigrants to pursue their dreams in the United States. By bringing your skills, entrepreneurial spirit, or extraordinary abilities to the US, you can not only advance your own career but contribute to the vibrancy and success of your new home. While the application process is rigorous, with careful preparation and a compelling case, you can greatly increase your chances of approval. We wish you the best of luck on your Suitable Visa journey!