EB-6 Visa Bill Introduced; Green Card in 2 Years

By HSB  On February 26, 2010;

Senators Kerry and Lugar have introduced a new EB-6 Visa bill in Congress called The StartUp Visa Act of 2010.

EB-6 Visa would amend immigration law to create a new EB6 category for entrepreneurs who can invest atleast $250,000. Details of the new bill is as follow

  • Entrepreneur must find funding (US Investor) for $250,000
  • Get 2 Years Visa
  • After 2 Years
    • Create atleast 5 Full Time Jobs
    • Attracted $1 million in additional investment capital or achieved $1 million in revenue
  • Green Card would be approved after that.

Why EB6 Visa?

Right now following Immigrant Visa category exists

  1. EB-1 Priority Workers
  2. EB-2 Professionals with advanced degrees or persons with exceptional ability
  3. EB-3 Skilled or professional workers
  4. EB-4 Special Immigrants
  5. EB-5 Investors (Employment Creation)  ( atleast 1 Million )

EB-6 visa will make it easy on start-up companies who have low budget. Not everyone can afford to get funding for 1 Million.  There are many questions surrounding this bill

  • Will this bill become  a law?
  • How many Entrepreneur will make use of this?

It will be interesting to see developments of this bill.  If there are any new updates, we will post it here.

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