On February 24, 2010, Senators John Kerry and Richard Lugar proposed new type of visa – the Start-up Visa.  The Startup Visa Act of 2010 would make a 2 year visa available to foreign national entrepeneurs who can raise a minimum of $250,000.  At least $100,000 of the investment funds must come from a qualified U.S. angel or venture investor.  After 2 years, the foreign national investor would be eligible for a green card (permanent resident status) if the investor can create 5 or more jobs, attract an additional $1 million in investment funds or generate $1 million in revenues.  The bill creates a new employment-based preference category – the EB-6 category.  The EB-6 category is essentially a spin off from the EB-5 category, which is subject to a higher threshhold. 

For more information about the Start-up Visa, visit:  http://startupvisa.com