A VC - Latest Comments in Startup Visas

Re: Startup Visas

Vidli — Wed, 21 Oct 2009 17:09:48 -0000

Hey Fred,

Great post ya got here...

We created a comedy and rundown about the Startup Visa called Lord of the Visa.

Lord of the Rings geeks please stand up.

Got you and Brad down as some of the good guys helping out us Hobbits.

http://blog.vidli.com/start...

Enjoy...

Re: Startup Visas

fredwilson — Mon, 12 Oct 2009 07:14:00 -0000

I agree. I'd like to see us open this country way up. But that is a much bigger fight that will take years to bear fruit (if it ever does)

Re: Startup Visas

peterwguy — Mon, 12 Oct 2009 05:31:20 -0000

Fortunately the nature of my work allows me to be here on a NAFTA visa, though that will not be forever and I will need so seek alternatives.

Re: Startup Visas

derrinyet — Mon, 12 Oct 2009 00:38:29 -0000

Definitely see why you support the founders/startup visa specifically, but if you're fighting this battle you may as well fight the larger war for more open immigration policies.

My parents got into the US because it was a political win for the US to have people from (then-Communist) Eastern Europe coming to this country. They didn't start a business right away, but within a couple of years they had one going that employed 20-50 people for a decade. A startup visa wouldn't have worked for them, but a (politically neutral) immigration policy that recognized the value of hard-working decent people no matter where they were from would have.

Re: Startup Visas

fredwilson — Sat, 10 Oct 2009 08:39:41 -0000

He is hiring in both places which what great companies do these days. A national border is irrelevant to a great company. Do you think google cares where the brilliant engineer lives and wants to work? Hell no

But the fact that they hire him or her in romania means they hire more sales and customer service people in NYC

Holding onto your slice of the pie never works. Grow the pie is the only sustainable way forward

Re: Startup Visas

MikeK — Sat, 10 Oct 2009 00:22:10 -0000

Pat -- you are so right on.

Re: Startup Visas

Pat — Fri, 09 Oct 2009 14:48:47 -0000

Hmm -- you said "His company is up and operating outside of the US. He has ten developers working in his home country."

Is he now moving his company to the U.S.? If yes, then great. If he is NOT moving the company to the U.S. and hiring people already here ( no citizenship requirement ) then the argument about U.S. jobs is ethereal.

Any arguments about "trickle-down jobs" is bogus as NAFTA and many other "free" trade agreements have demonstrated.

Right now all you have said is that "But his customers are in the US". If this is the case he should just apply for an E-1 ( http://immigration.lawyers.... )

Re: Startup Visas

fredwilson — Wed, 07 Oct 2009 20:39:59 -0000

Because his company is creating jobs in the US. Got a problem with that?

Re: Startup Visas

Pat — Tue, 06 Oct 2009 11:45:07 -0000

Let me see. All the work is going overseas. No U.S. jobs. And this guy should get a special visa just for him because.....?

Sorry this just infuriates me. Fix the H1B visa so that it is not tied to a specific company. That will solve more problems than this stovepipe solution.

Re: Startup Visas

bfeld — Fri, 02 Oct 2009 12:57:19 -0000

Edward - thanks for the info on E2. I've explored this some and my understanding is that the E2 is a classic case of a "bought" visa - the visa is for the investor that controls the company they are establishing. If my understanding of this is wrong, please tell me.

The idea of modifying the E2 instead of the EB5 is a good one - I'll add that to the list to consider.

I'd be happy to have you involved in the StartupVisa effort along with any links to national experts on policy you think we should be talking to. We do have strong immigration attorney's involved in the effort at this point but are open to more.

Re: Startup Visas

fredwilson — Fri, 02 Oct 2009 06:47:44 -0000

This is a great comment. I hope the people working on this consult with immigration attorneys since you are on the front lines

Re: Startup Visas

Edward Walters — Thu, 01 Oct 2009 21:46:12 -0000

Under the current system, dependent specialized workers, are also permitted to enter under the E2. Again, the disadvantage is that it can be difficult to adjust status to that of a green card and not all countries are signatory to the treaty.

Re: Startup Visas

Edward Walters — Thu, 01 Oct 2009 21:36:26 -0000

AndreaF: that was true for FY 2005-09 but this year (FY2010) there are still available visas. October 1st is the Federal Government's start of the fiscal year and thus, that is the day they can start on a H1B.

Obama has not done anything with respect to the allocation of H1Bs. The 'cap' was put in years ago to lower the numbers from the early 2000s. The simple fact that the H visa numbers remain available are a testament to the fact that the market drives this process. There simply is not a large enough demand for them today.

Re: Startup Visas

Edward Walters — Thu, 01 Oct 2009 21:26:48 -0000

As a business immigration attorney, I have done my fair share of EB5s and it's non-immigrant cousin, the E2 visa. The reason they are not widely used is due to the extreme cost and complexity of the visa. Our submissions are typically well over 4 inches and there is a high likelihood of receiving a Request for Evidence invariably asking for information that was already provided for. We typically instruct our clients to utilize a pilot program for EB5 if they can swing it financially. If not, the visa is roughly 75% business/corporate law and 25% immigration. Unfortunately, there are not many attorneys who have expertise in both areas. I was fortunate enough to be in a firm that had this exact mix and was exposed to them. Had I not I would not have touched them with a ten foot pole.

The E2 investment visas on the other hand are far simpler. We often do them for capital investment of $50,000 with $50k+ on a promissory note without difficulty. E2s are a creature of Treaty and so there are many countries that are conspicuously absent (i.e. India). However, if one is in an E2 country, they are a very useful vehicle, not subject to caps such as the H1B (although for FY2010, that does not seem to be a problem). They also do not have a restriction on the total number of years one can be on the visa unlike the H. Lastly, there is no requirement that the applicant have specialized knowledge. All it takes is vision articulated in the form of a fairly comprehensive business plan with 5 year proformas.

If you are ever interested, I can point you to the national experts on the EB5 with respect to policy. I encourage your discussion as our clients now employ thousands in the US; all based on entrepreneurial spirit.

Re: Startup Visas

John Boddie — Sun, 27 Sep 2009 22:33:31 -0000

Singapore has tackled this problem through a specialty visa called an Entrepass (ie. Entrepreneur Pass). They have modified the terms of the pass over the last year based on first round results. An overview of the pass system is available via the Singapore Ministry of Manpower at (shortened) http://bit.ly/poWX9 Despite administrative differences with the US, Singapore's experience might offer pointers for implementation and pitfalls.

Re: Startup Visas

ShanaC — Sun, 27 Sep 2009 15:05:52 -0000

Thank you for the high complement. I try. Life's a journey where you don't really always know where you'll end up. You just better bring a first aid kit and a water bottle along the way, and look around. That's pretty much what I've figured out.

Re: Startup Visas

fredwilson — Sun, 27 Sep 2009 14:59:48 -0000

No. But he needs to be able to travel back and forth often and the company has done much better when he is here

Re: Startup Visas

MikeK — Sun, 27 Sep 2009 12:24:57 -0000

So he really doesn't have to be in the US personally full time.

Re: Startup Visas

fredwilson — Sun, 27 Sep 2009 08:14:03 -0000

And she's got a few ppl who will help her end up in something other than a starbucks apron. Not saying that won't happen. Its rough out there. But she's smart and doing stuff to reduce the chances of that

Re: Startup Visas

fredwilson — Sun, 27 Sep 2009 08:05:50 -0000

His company is up and operating outside of the US. He has ten developers working in his home country. But his customers are in the US

Re: Startup Visas

ShanaC — Sun, 27 Sep 2009 00:59:37 -0000

I'm a big believer of "we'll see how life turns out." Oddly, I can say that posting here has been good for me: Promotes teamwork, I'm running around like a maniac learning a lot, and I'm more easily Googable for something positive which I am passionate about. You really never know.

Re: Startup Visas

Dave Pinsen — Fri, 25 Sep 2009 17:28:46 -0000

With 10% unemployment, no one will be sticking you in anything, and you'll probably have a better shot of wearing a Starbucks apron than a suit when you graduate.

Re: Startup Visas

ShanaC — Fri, 25 Sep 2009 15:42:45 -0000

I'm just in a mood, Blogging about it. Don't like admitting there will be a period in my life where someone will stick me in a suit.

Re: Startup Visas

ShanaC — Fri, 25 Sep 2009 15:33:40 -0000

Joy of being here, It's like also knowing that quoting that line of Emma Lazarus's has a kind of unconscious irony to it (only to the right crowd though)

Re: Startup Visas

fredwilson — Fri, 25 Sep 2009 14:19:08 -0000

That is a decent idea. But we need to expand this to all investors not just VCs and we need to allow them to sponsor members of the team who are not founders