US Business Beginnings: How Entrepreneurs Can Obtain a Green Card?
The United States provides great opportunities for immigrants and entrepreneurs because it is a leading and dynamic economy. While many focus on IT and tech, many immigrants are also entrepreneurs driving innovation in various areas. If you’re planning a trip to India, Grab cheap flight tickets to India from USA through Flyopedia to enjoy unbeatable prices and excellent service.
William Kerr from Harvard Business School points out that foreign-born individuals now constitute approximately 25% of inventors and entrepreneurs in the US, a significant increase from 10% in the 1970s. This demographic is vital for economic expansion, impacting sectors ranging from low-skill services to advanced technology startups.
The Perfect Time for Indian Entrepreneurs
For Indian entrepreneurs, now is an ideal time to launch a business in the US. America continues to offer vast opportunities, supported by a successful Indian American community of 4.9 million people. This community excels in various fields, with Indian households in the US earning a median income well above the national average, highlighting their economic achievements. For those looking for business class tickets, you can buy best business class flights to India from USA with us.
In the United States, entrepreneurs have easy access to capital and financial assistance. Indian entrepreneurs can start with an L-1A visa and later switch to an EB-5 visa for permanent residency, helping them grow their businesses using US resources.
The L-1A Visa
The L-1A visa is a type of work visa used by multinational corporations in the USA. It lets companies transfer executives and managers to their US offices. To be eligible, you must have worked in a managerial or executive function for the company abroad for at least 1 year in the previous 3 years.
One major benefit of the L-1A visa is its fast processing time. You can get approval in just 15 days with premium processing, making it a great option for entrepreneurs who want to quickly start a business in the US.
The L-1A visa is also a dual-intent visa, meaning it is valid for up to seven years. This allows holders to apply for permanent residency through the EB-5 program without affecting their current visa status.
The EB-5 Program
The EB-5 program provides a route to Green Cards for immigrant investors who create jobs in the US. Indians with L-1A visas can apply for permanent residency and a Green Card through the EB-5 program.
To be eligible for an EB-5 visa, investors must invest at least 1.05 million USD and create 10 full-time jobs for US workers. In rural or high-unemployment areas, the investment requirement is lowered to $800,000. If you want to learn about how the Indian visa process works, check out our Detailed Roadmap for U.S. Citizens Seeking a 10-Year Indian Visa for clear and comprehensive information.
Why Indian Entrepreneurs Should Consider This Transition?
Switching from an L-1A to an EB-5 visa is advantageous for managing a small business in the US. The EB-5 program simplifies the process compared to the L-1A, which has strict hiring requirements. Under the L-1A visa, businesses must recruit 10 to 15 employees within a specific period, which can put significant pressure on small companies and disrupt operations. Failure to meet these requirements can also jeopardize visa extensions.
In contrast, the EB-5 visa offers more flexibility with no rigid hiring mandates. Entrepreneurs can use regional centers, which aggregate funds into projects that create the necessary 10 jobs, making it easier to meet EB-5 requirements. Regional centers streamline compliance through economic modeling.
Moreover, once an EB-5 application is approved, investors benefit from Advanced Parole for travel and an Employment Authorization Document for unrestricted work rights. The EAD also allows them to get a social security number and open a bank account, enhancing their overall ease of living and working in the US.
Switching to EB-5
For Indian businesses looking to transition, the first step is to obtain an L-1A visa and set up operations in the US. As you grow your business and meet the L-1A hiring requirements, plan to apply for an EB-5 visa within the first few months of having L-1A status.
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