Immigration Reform for Entrepreneurs

This past January, President Obama delivered a speech calling for Immigration reform that promoted visas for entrepreneur immigrants that initiate “start-ups.” A good summation of the plan can be found in the following article:

On its face, I think it is a great plan. However, I wonder about the legal implications. Could we see an increase in corporate fraud? As the article points out, “that either secure financing from a U.S. investor or generate revenue from U.S. customers would be eligible for visas, with the potential for those temporary stays turning into permanent residences if their companies continued to grow and create jobs in the U.S.

I worry entrepreneurs would comprise their companies in order to gain citizenship.

Finally, I will add current the investment visas range from $500k to $1 million in exchange for citizenship. These amounts are too expensive and provide cash only. The plans proposed above would serve to create jobs and revenue, which should be touted. I just worry about the social implications of depending a companies success on their ability to garner citizenship. I think (based on last weeks discussion) rather than value job creation and growth, simply evaluate based on funding raise. It seems that when it comes to entrepreneurship it is the man more than the idea that has value.

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