immigrant loans for small business

What Do You Need to Start a Business as an Immigrant?

More than 40% of American companies were founded by immigrants or by their children and it is the fact that is not subject to controversy. People came to the United States of America for many years to find wide opportunities according to the type of business and better prospects for entrepreneurship development. What is more, such people with NAFTA occupation have shaped the stable U.S. economy for years.

Here are some things you need to know before starting a business as an immigrant in the United States. You will definitely meet them on your pathway.

Step 1 – A Green Card

You know, those foreign nationals who want to receive a US green card for employment purposes have several specialties in getting it. There are four different options. They are green card through investment, green card through a job offer, green card through self-petition, and green card through special categories of jobs. A good decision is to ask a lawyer and choose a suitable option for you. The only first is related to starting own business. If it is the field you are interested in, then let’s go to the next step.

Step 2 – EB-5 Investor Green Card

This green card may be available to investors making a big investment in an enterprise that creates new U.S. jobs.

If your capital is not big enough you may get acquainted with the immigrant small business loan program. This program works with immigrant loans for small business and offers government grants for immigrants. In addition, health insurance for small business is helpful for you when something goes wrong.

So, here is a short list of criteria you need to follow to get EB-5 visa:

1. You should invest $1,000,000 in a city setting, or the US $500,000 in rural settings;

2. You must prove that the capital for your investment come from a legitimate source;

3. The entire amount of the investment should be active.

4.    Make the investment in a new business enterprise.

5.    Demonstrate the results in the creation or preservation of ten full-time jobs.

Step 3 – Other Immigrant or Nonimmigrant Visas

Now, after you succeed with starting your own business you may be interested in other visas such as EB-1, EB-2 or B-1 & O-1A. So, let us figure out why you should apply to them.

EB-1 visa and EB-2 – are available for those foreign nationals who demonstrate extraordinary skills in their field of the science, art, education, business, or athletics. It will be easier for you to get it if you have already earned the world fame and recognition,  professional licenses, letters that attest to the beneficiary’s experience, By the way, you need to have at least 3-year experience in this area and teach or have research in one of the universities of the U.S. If you have at least two of these criteria you can get it easily. There are only small differences between them is that the B1 visa is for business while the B2 visa is for pleasure.

In its’ turn,  O-1A visa is available for people who have received a major, internationally-recognized award, such as a Nobel Prize, an Academy Award, Emmy, Grammy or Director’s Guild Award. If you are a lucky owner of one, then go, apply for your card, and become a citizen of the United States.