New program for entrepreneurs.

In July 2017, a law comes into force that provides entrepreneurs from abroad with the possibility of immigrating to the United States on very affordable terms. In a sense, this is an alternative (or rather an additional option) to the existing E-2 and EB-5 visas, which are widely used among businessmen developing their own business in the United States.

The only alarming circumstance (for non-professionals) is that the new law does not determine a visa, but a certain conditional permission to enter and stay in the country. The last, in fact, differs little from a visa, but, nevertheless, can't be defined like a visa. The essence of the difference will be described below.

A foreign entrepreneur must meet the following qualification criteria:

• a business & company should already be working in the USA, but not more than 5 years by the time the program is submitted;
• the applicant must own at least 10% of the company;
• the applicant cannot fulfill the role of a passive investor, but must actively participate in the work of the company;
• the company should receive targeted financing in the following amounts (one of the following options is acceptable):

1. in the amount of not less than 250,000 US dollars in the form of investments on behalf of a qualified investor from the USA (the applicant, as well as his family members participating in the program cannot act as investors);
2. at least $ 100,000 in grants or awards from the relevant federal or local government;
3. foreign entrepreneurs who do not meet the requirements above or partially meet the specified requirements should additionally provide convincing evidence that the company has sufficient potential for rapid growth and job creation.

It is important that a company may have an unlimited number of founders, but no more than 3 can participate in the program.

The entrepreneur initially receives a conditional permit to enter and stay for a period of 30 months and can work exclusively in the company in which his funds were invested.

Dependent family members can join the investor and simultaneously obtain a work permit.

A program participant can obtain a re-entry permit (30 months) if it is demonstrated:

• business continues to develop with the direct and active participation of the entrepreneur;
• the applicant continues to own at least 5% of the company;
• company created:

1. at least 5 jobs;
2. received at least 500,000 US dollars of investments and & or grants, awards;
3. Revenues of at least 500,000 US dollars, which (revenue) increase by an average of 20% per year;
4. the entrepreneur is able to provide other compelling evidence of the company's growth potential.

The maximum validity period of a conditional permit is 60 months.

The difference between a conditional permit and a visa is as follows:

• after 60 months, the entrepreneur must leave the United States;
• during the term of the conditional permit, the entrepreneur can obtain any of the current immigrant or non-immigrant visas in the United States.