There's a reason the United States is known as the land of opportunity – it has one of the most fertile economies in the world, one that owes much of its success to the hard work of immigrants from all over the globe.
According to a 2011 report by the Partnership for a New American Economy, companies founded by immigrants bring in roughly $1.7 trillion.The National Venture Capital Association also reported in 2013 that companies founded by immigrants employ around 600,000 people.
This brief guide will introduce you to the different types of U.S. visas appropriate for entrepreneurs, investors and skilled workers, and give you important facts you should know about the process.
Competition for these visas is fierce – especially if you seek one of the coveted H-1B visas, open to skilled specialty workers and heavily used by the tech industry. The 2016 process opened April 1 and, for the fourth year in a row, requests for the 85,000 available visas exceeded the supply within five days. A lottery for the spots will be held to determine who gets the visas.
Visas for EntrepreneursThe U.S. offers six types of nonimmigrant visas for entrepreneurs, investors and skilled workers (note that the visas listed below can be extended beyond their initial period of stay). These are the options:
If you are an entrepreneur who would like to stay here permanently, investigate these two visas :
First, you'll need a U.S. citizen or employer to sponsor your petition (forms I-130 and I-140), which you'll file with the U.S. Citizenship and Immigration Services (USCIS).
Since you'll likely be filing a business-based visa, you'll have to check your priority date to find out how long you must wait for a visa, due to annual limits set on certain visa classes. You'll also have to choose an agent who will accept communications from the National Visa Center (NVC). If you like, you can be your own agent.
Next you'll need to pay your processing fees online or by mail. Be sure to check the fees for each type of visa before you begin.
Once you submit an application to the NVC, you'll need to collect all necessary financial and supporting documents. There will also likely be a medical exam you'll need to complete.
Once your application is submitted and fees paid, you'll be asked to sit for an interview at your local U.S. Embassy/Consulate. Bring all original documents of your application, as well as your passport and medical results.
Following your interview, you'll be told at the Embassy/Consulate whether you've been approved for a visa. If not, you'll be told why and where you can go for further information. For more details, click here.
The Bottom LineThe visa application process is thorough and tedious. However, few countries offer as many rich opportunities for entrepreneurs as the U.S. does. If you'd like to get started working in the States, start your visa application process today.
If you're an American looking for visas abroad, check out Tips for Getting a Permanent Visa and Best and Worst Countries For Entrepreneurs.