A new bill called “The Startup Act” was
introduced in the Senate last week to benefit immigrant entrepreneurs and those
in the STEM (Science, Technology, Engineering, and Mathematics) fields. The Startup Act states that new companies
create jobs in the US and that entrepreneurs must be free to work in the US and
to hire employees to get the US back to work.
The Startup Act offers the following three key
benefits:
1.
Conditional
Permanent Residency for Those in STEM Fields.
Aliens holding
a master’s or doctoral degree in a STEM field from a US institution can apply
for Conditional Permanent Residence (CPR) for up to one year after their F-1
studies conclude. CPR is a temporary
green card, valid for a limited period of time and contingent on the green card
holder completing certain required actions.
At the end of the temporary green card validity period, the applicant
must have completed the required actions to obtain a permanent green card,
valid for ten years.
To qualify for
CPR under this part of the Startup Act, the applicant must be “diligently
searching” for an opportunity to become gainfully employed in a STEM field
occupation. The alien can be granted CPR
for up to five years and can remove the conditions and obtain a permanent green
card, or naturalize and become a US Citizen after the five year period,
provided the applicant has been employed in a STEM occupation for the duration
of the five year period.
2.
Conditional
Permanent Residency for Entrepreneurs.
The Startup
Act provides that immigrant entrepreneurs can be granted CPR for up to four
years. The CPR holder is eligible to
apply for a permanent green card if:
·
the alien
holds F-1 or H-1B status
·
during the
first year of the CPR, the alien
o
registers a
new business in the US
o
the alien’s
business employs at least full-time employees who are not members of the
alien’s family
o
the alien
invests or raises capital of $100,000
·
during the
remaining three years of the CPR, the alien employs at least five full-time
employees who are not members of the alien’s family
3.
Elimination
of Per Country Caps and Rollover of Unused Green Cards.
Finally, the
Startup Act phases out the per country caps on green cards over a three year
period. It also provides for the
rollover of unused green cards.
Hi, would I get in trouble if I quit my job after receiving my GC through employer? thanks
ReplyDelete@ Phx. You might. It would depend on how long you had your GC and whether you had a plan in place to quit prior to the issuance of the GC. You may also have contractual obligations to the employer. You will want to check with your attorney.
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