The proposed immigrant entrepreneur visa is separate and fundamentally different from the current EB-5 (the fifth employment-based preference) immigrant investor visa.
FORBES: New Immigrant Entrepreneur Visa Can Create Many Jobs for Americans
In May, the U.S. Citizenship and Immigration Services proposed to streamline the EB-5 visa process, designed for immigrant investors and entrepreneurs who create at least 10 U.S. jobs.
Although the U.S State Department subsequently implemented a special immigrant visa program for Iraqi and Afghan translators and interpreters, the creation of this class of refugees is a testament to the power of language politics, and an example of the fallout from American insufficiencies in this area.
Essentially, the bill would move to the front of the visa line any immigrant with a business idea and proof of investor interest.
The draft plan reported by USA Today calls for an eight-year path to permanent residency for undocumented immigrants, who would face a criminal background check and have to pay back taxes, learn English and get a new "lawful prospective immigrant" visa.
Higher unemployment may trigger hostility to immigrant labour, making it harder for Europe to reform its ungenerous visa and work-permit rules so as to attract foreign talent.
The initiative brings together a tactical team of startup company experts and U.S. Citizenship and Immigration Services experts and tasks them with a 90-day mission to streamline existing visa pathways for immigrant entrepreneurs who create jobs in America.
WHITEHOUSE: Making the Immigration System Work for Our Economy
Under these circumstances it is no surprise then that domestic workers who compete against these visa holders sometimes complain that their wages are below market value, since the firm is effectively granted a monopoly over visa workers, and as a result able to grab a portion of the higher productivity an immigrant attains by moving here.
Under a proposed new visa category, a potential immigrant would submit a business plan to be evaluated by the Small Business Administration and upon judging the ability of the business to employ three or more U.S. workers (non-relatives) the individual would receive conditional permanent residence.
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