This article was originally published on Unshackled by Soundarya Balasubramani.
Does the U.S. have a startup visa?
A startup visa is a special visa for foreign entrepreneurs who want to move to a different country and start a business. It helps countries attract talented entrepreneurs, boost their economy, and create jobs.
Unlike Canada, Australia, and the U.K, the U.S. does not have an established startup visa, despite consistent efforts to implement one.
Are there alternative ways to start a business in the U.S.?
There are five alternative ways to start a business in the U.S.
O-1 Visa: The Extraordinary Route
The O-1A visa is designed for top professionals in their fields. It’s ideal for founders because there’s no minimum salary requirement and you can extend it indefinitely. You can even apply as a solo founder, but make sure you meet the criteria of being extraordinary.
International Entrepreneurial Parole (IEP): Substitute for a Startup Visa
The IEP, introduced in 2021, is the closest thing to a startup visa. It allows you to own 100% equity in your company without an employer-employee relationship. However, you need to raise at least $250,000 from accredited investors and own more than 10% equity. Keep in mind, it’s not a visa but a parole program.
H-1B Visa: The Popular Work Visa
The H-1B visa is well-known and can be used to start your own company. Unlike the O-1 visa, you don’t need to prove extraordinary abilities. However, you must meet a minimum salary requirement, have an employer-employee relationship, and provide a clear job description.
H-4 EAD: Maximizing Potential as a Dependent
The H-4 EAD is for dependents of H-1B holders. If your partner has an approved I-140, you can apply for it. This option offers flexibility, as there’s no need to raise investment, worry about minimum salary, or have a strict job description. Just remember that your H-4 visa is tied to your spouse’s visa.
L-1 Visa: A Launchpad for Global Startups
The L-1 visa is originally for intra-company transfers, but it can also be used to expand your startup from abroad to the US. You can own 100% equity without raising investment, but you need to have an office space, show sufficient revenue, and present a detailed business plan.
