Congresswoman introduces bill to help immigrant entrepreneurs

On Monday, July 26, 2021, Congresswoman Zoe Lofgren, who is Chair of the House Subcommittee on Immigration and Citizenship, introduced the “Let Immigrants Kickstart Employment Act” (LIKE Act), which has as its main objective to encourage and help immigrant entrepreneurs to start their projects and establish their companies in the US.

Through this bill, immigrant innovators would have the possibility to develop their start-up companies (venture capital-backed) in the US through a visa program, which would also bring a great benefit to the national economy and contribute to decrease the local unemployment rate.

According to Congresswoman Lofgren, attracting the brightest minds from abroad and allowing them to create new companies in North America is a great strategy to recover the country’s financial stability after the devastating crisis brought by the global Coronavirus pandemic.

However, she emphasizes the need to pass legislation such as the LIKE Act before it is too late, especially because the US may no longer be the destination for thousands of foreigner innovators due to restrictive policies and difficult immigration processes. She openly states that this bill will “spur economic growth, create jobs for American workers, and enhance our competitive advantage on the world stage”.

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What is the basis for this immigration bill?

Lofgren states that there are several important points to keep in mind when analyzing the LIKE Act. For instance:

• Annually, start-ups create approximately 3 million jobs for the American population. However, the number of start-ups created locally is not enough to keep the economy afloat for decades to come.
• Throughout history, immigrants have always been present in the creation of start-ups, which are now mature, high-growth companies. In fact, Lofgren explains that immigrants were involved in the creation of 50% of today’s high-growth companies.
• Immigrant participation in high-growth companies has created about 1.9 million jobs for the American population.

What would the LIKE Act offer?

Unlike other countries, including world powers such as Canada, Australia and several European countries, the US does not have a visa program available specifically for innovative and entrepreneurial immigrants, which has tremendously affected the country’s international competitiveness.

Therefore, through the LIKE Act, innovative immigrants could apply for a temporary three-year visa to develop their businesses in the US, as long as they meet certain eligibility requirements. If, after this period of time, holders of this entrepreneurial visa demonstrate that their company growth has been beneficial to the national economy and the American population, they may apply for an extension of up to five years.

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Do you already know the options available for your particular immigration case?

When it comes to starting your immigration journey in the US, seeking reliable help and choosing the process that best suits your current needs is a priority, especially after a year as peculiar and difficult as 2020, and after an administration like Donald Trump’s, which tried to restrict immigration by all means possible.

We understand that starting an immigration process requires constant dedication and expert help. Our team is highly qualified to guide you through your immigration journey in the US, so please don’t hesitate to contact us for a FREE Phone Consultation with one of our expert immigration attorneys.

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