Immigrant Entrepreneur Bill Introduced

August 1, 2012

Reps. John Conyers (D-Mich.) and Jason Chaffetz (R-Utah) have introduced the American Investment and Job Creation Act (H.R. 6210) which would provide a path to permanent resident status (i.e. a green card) to foreign entrepreneurs who invest and live in the U.S. and who create jobs here.

The bill would address this by allowing entrepreneurs to qualify for green cards if they have: established a new business in the U.S.; made a substantial investment in that business, either through the E-2 treaty investor program or otherwise with a minimum investment of $250,000 (or $125,000 if in a distressed area); and created and sustained direct, full-time employment for at least five U.S. workers over the last four years (or at least three U.S. workers over the last two years if in a distressed area).

This NSBA-supported legislation also would streamline and simplify the existing EB-5 visa program to attract additional foreign investment.

To read the bill, click here.