Trump admin. scraps entrepreneurship visa, proposes student visa crackdown (user search)
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  Trump admin. scraps entrepreneurship visa, proposes student visa crackdown (search mode)
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Author Topic: Trump admin. scraps entrepreneurship visa, proposes student visa crackdown  (Read 1342 times)
Santander
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Posts: 28,028
United Kingdom


Political Matrix
E: 4.00, S: 2.61


« on: July 11, 2017, 10:47:09 PM »

The entrepreneur visa idea was outrageous. There is already a relatively cheap investment immigration program - it only requires $500,000 if you choose to invest in an economically-depressed area, which has a pretty broad definition.
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Santander
Atlas Star
*****
Posts: 28,028
United Kingdom


Political Matrix
E: 4.00, S: 2.61


« Reply #1 on: July 14, 2017, 10:54:01 AM »

Okay, an immigrant setting up a convenience store may not be as flashy as an Elon Musk coming over here to found Teslas, but they still bring benefit to the receiving country. Even if they only employ relatives, they still benefit the economy, whether they buy from suppliers or spend their hard-earned money in the economy.
Actually, the little economic activity generated by such people alone is not in the national interest, and it is insulting to compare them with genuine investment immigrants, although the investment immigration program is also deeply flawed. The government recognizes this, and the immigrants who buy convenience stores or gas stations and employ their immigrant family members typically immigrate to the US on family-sponsored or diversity lottery visas. In order to qualify for investment immigrant status, you must create at least 10 jobs for Americans, which doesn't happen with these types of businesses.
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Santander
Atlas Star
*****
Posts: 28,028
United Kingdom


Political Matrix
E: 4.00, S: 2.61


« Reply #2 on: July 14, 2017, 03:28:01 PM »

This whole discussion is kind of moot, though, since the proposed entrepreneurship program is clearly designed for "investment immigrants" who have lots of resources:

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$100,000 is nothing though, and it doesn't even have to be their own money. Why should the government be giving grants to foreign entrepreneurs when there is no shortage of motivated and creative people in the US who could create businesses with the same money?

The current threshold for investment immigrants who are not from a treaty country is $1,000,000 or $500,000 in economically-depressed areas, which gets you a provisional 24-month green card during which time you have to have created 10 American jobs. You don't have to do this as an entrepreneur, you can do this as an investor in a project that is operated by someone else. Most non-treaty investor green cards go to Chinese millionaires with dirty money whose money state governments are only too happy to help launder.

$500,000 is already a low bar that is significantly lower than countries like the UK, which has a minimum investment of £1,000,000, generally higher tax rates, and more immigration restrictions. Investment immigration is to facilitate foreign investment that will definitely be in the national interest. Anything lower than that is just speculative gambling that is not in the national interest. The federal government is not a venture capital firm. If the government wants to lower or adapt this threshold, it should seek bilateral investment treaties with other countries to facilitate freer movement of capital and ideas in both directions.
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Santander
Atlas Star
*****
Posts: 28,028
United Kingdom


Political Matrix
E: 4.00, S: 2.61


« Reply #3 on: July 14, 2017, 03:30:27 PM »

Judging by the McAuliffe-Rodham EB-5 scam, you dont even get 10 jobs with the actual investor visas.
Yeah, EB-5 is an absolute disaster.
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