H.R. 5193 · 111th Congress
StartUp Visa Act of 2010
- Stage
- In committee
- Sponsor
- Carolyn Maloney
- Introduced
- 2010-04-29
- Latest action
- 2010-06-15 · Referred to the Subcommittee on Immigration, Citizenship, Refugees, Border Security, and International Law.
Summary
StartUp Visa Act of 2010 - Amends the Immigration and Nationality Act to establish an employment-based, conditional immigrant visa (StartUp visa) for a sponsored alien entrepreneur: (1) with required amounts of financial backing from a qualifying investor or venture capitalist; and (2) whose commercial activities will generate required levels of employment, revenue, or capital investment.
Directs the Secretary of Homeland Security (DHS) to terminate the status of a sponsored entrepreneur (and the alien spouse and children of such entrepreneur) if, not later than three years after the date on which such permanent resident status was conferred: (1) the sponsoring venture capitalist or investor failed to meet investment requirements; or (2) the entrepreneur failed to meet job creation, capital investment, or revenue requirements.