Expensive Sophie: Which visa is finest for bootstrapping a startup?

Right here’s one other version of “Expensive Sophie,” the recommendation column that solutions immigration-related questions on working at know-how firms.

“Your questions are very important to the unfold of data that permits folks everywhere in the world to rise above borders and pursue their desires,” says Sophie Alcorn, a Silicon Valley immigration lawyer. “Whether or not you’re in folks ops, a founder or in search of a job in Silicon Valley, I might like to answer your questions in my subsequent column.”

TechCrunch+ members obtain entry to weekly “Expensive Sophie” columns; use promo code ALCORN to purchase a one- or two-year subscription for 50% off.

Expensive Sophie,

I’m a founder from Germany. Our product is already producing round $200,000/12 months proper off the bat. Our prospects are primarily U.S.-based, and we don’t plan to boost any capital from buyers.

I’ve been trying into the brand new startup visa choice and the E-2 and L-1B visas, and I’ve been fairly heads-down targeted on constructing the product, so I’m not well-known.

What’s my best choice for bootstrapping my startup within the U.S.?

— Recreation-Altering in Germany

Expensive Recreation-Altering,

Congrats in your early traction and U.S. market enlargement! You don’t have to qualify for an O-1A to make it to the U.S., and it’s good to keep in mind that there are a selection of labor visas on the market. Let me dive into every of the choices you’ve talked about in your particular set of circumstances and supply just a few others.

IEP and the proposed startup visa

Congress has not but authorised the laws that will create a startup visa. Nonetheless, the International Entrepreneur Parole (IEP), the choice closest to a startup visa, is offered proper now.

On Thursday, June 16 at midday PDT/3 p.m EDT, Sophie Alcorn will be a part of a Twitter House with Senior Editor Walter Thompson to reply your questions on dwelling and dealing legally within the U.S.

To get a reminder before the chat starts, please follow @techcrunch on Twitter.

To qualify, each IEP and the proposed startup visa require a founder to boost funds from certified U.S. buyers or safe a authorities grant or award, along with different standards. Since you haven’t and don’t plan to boost funds in your startup, neither IEP nor the proposed startup visa can be best for you.

E-2 visa requires a giant funding

A composite image of immigration law attorney Sophie Alcorn in front of a background with a TechCrunch logo.

Picture Credit: Joanna Buniak / Sophie Alcorn (opens in a new window)

The E-2 visa for treaty buyers or important workers is right for startup founders and crew members whose residence nation has a treaty of commerce and navigation with the U.S., as Germany does. (The residents of 81 treaty countries are eligible for the E-2 visa.)

Along with being a citizen of a treaty nation, you need to personal a minimum of 50% of the corporate, have direct management of the corporate, or a minimum of 50% of the homeowners of the corporate have to be residents of the identical treaty nation.

To qualify for an E-2, you would need to show that you’ve got invested or are within the technique of investing a “substantial quantity of capital” within the U.S. to ascertain and develop your startup or that the corporate has made this funding and now it is advisable to work there.

Source link






Leave a Reply

Your email address will not be published. Required fields are marked *