Home » How to acquire a startup visa to live and work legally in the US?

How to acquire a startup visa to live and work legally in the US?

by archyw

One of the job growth options that contemplate hundreds of Colombian entrepreneurs has to do with searching new opportunities abroad; However, many of them are unaware of the existing alternatives to achieve a migration that allows you to legally live and work in the US

The health crisis, economic crisis and unemployment, a good percentage of Colombian entrepreneurs have increased their interest in seeking to leave the country, especially in search of a Best job opportunity, quality of life and security.

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The United States is emerging as one of the stronger migration destinations due to the opportunities it offers to legal residents and migrants for a satisfactory quality of life.

The Rule of the International Entrepreneur (International Entrepreneur Rule), created under the Obama administration and locked under the Trump administration, was restored from May 10 of this year by the presidente Joe Biden.

That rule will serve as a kind of “startup visa“, immediately available to startups creators from around the world and those already in the United States. It represents an exciting moment in the history of immigration in the United States, since it is the closest you have been to having a visa specifically for foreign entrepreneurs, with funds from investors and eager to create companies and generate jobs in the United States.

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Edgar Pulido director of LATAM in USA Colombia explains how to live, work, and migrate legally in the United States for international entrepreneurs, as they now have a Viable immigration route to go to the United States to start their own businesses.

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For Pulido, doing business, investing and establishing legally in the United States is a task that requires planning and explains the different opportunities legally and with good legal advice.

To access the E-2 Investor visa, the following seven requirements must be met:

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1. Be a citizen of a Treaty country

The United States has maintained a cooperation, trade, and navigation treaty with Colombia since June 10, 1948. The investor, whether it is a person, society, or corporate entity, must have the citizenship of a country that holds an existing treaty with USA. However, if it is a company, at least 50 per cent of the company must be owned by people with the nationality of the treaty country.

2. Having invested in a Substantial amount

The investment must be substantial, with investment funds or assets committed and irrevocable. Therefore, the applicant has invested or is actively in the process of investing. It must be sufficient to ensure the successful operation of the company or undertaking. The investment must be a real operating company, an active business or commercial corporation. A paper organization, idle or dormant speculative investment does not qualify, as well as unencumbered funds in a bank account or similar securities are not considered an investment. Thus, investment has a risk, the concept of investment comes from putting funds or other capital assets at risk, in the commercial sense, in the hope of generating a financial return.

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3. Address

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The applicant must be in a position to demonstrate that you will develop and direct the activities of the company or entrepreneurship.

4. Control

Investors must demonstrate that they have a participation equivalent to one hundred percent of it, or at least 50 percent of a business or company. When speaking of a majority stake, it refers to a equal part of the investment, in a joint venture or similar two-party partnership, which generally grants a majority stake, if the joint venture and partner retain all management rights and responsibilities. This arrangement is often called a “negative control.” Because each of the two parties has the same responsibilities, each has the ability to make decisions that are associated with the other party, you just have to show that both have 50% of the American company.

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5. The investment must be in a real and not marginal operating undertaking

This refers to a marginal business or undertaking, one that does not have the present or future ability to generate sufficient income, to provide more than a minimum life to the applicant investor and his family. The investment must be in a real business that generates significantly higher income not only to provide a livelihood for the applicant and their family nucleus, but must also have a significant economic impact in the United States.

6. Source of funds

This refers to the fact that the investor must be able to prove a legal source of funds, with which he will make the investment. Must be in control of funds and the investment must be at risk in the business sense. Loans guaranteed with the assets of the investment company are not allowed.

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Source, possession and control of funds: the Investment source may include capital assets or savings funds, gifts, inheritances, contest winnings, loans secured by the applicant’s personal assets, or other legitimate sources. The source of funds does not need to be outside the United States. However, the origin of the investment must not be the result of illegal activities. The applicant must demonstrate possession and control of the assets and capital funds invested. It must be documented that the money was obtained in a legitimate way, and not through an illicit or illegal business or action.

7. Active

This requirement is requested to ensure that the business in which it is invested is not speculative, but is projected as a successful business. Thus, commercial entrepreneurship must guarantee and promote the creation of jobs, since the creation of labor force in the American market, is a requirement.

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