Obtaining a visa for the United States of America is of the hardest things to do, especially if you are an entrepreneur, who wishes to move to the U.S, set up your business there and then live the American dream. However, a new proposed visa plan by Congressman Jared Polis could lead to a solution that could prove to be the end of all such visa voes.

Silicon Valley, which is also considered to be the heart of the global IT market has been thriving on foreign nationals who have set up their businesses and providing valuable financial support to the U.S economy. However, the recently strengthened U.S immigration laws have created a great deal of hurdles for such entrepreneurs. According Mr. Polis,

“Every day the American economy is losing ground – not to mention high-tech jobs and technologies – to India and China because foreign-born entrepreneurs cannot secure a visa to stay in the US.”

As of now, the EB-5 visa that is granted specifically for foreign businesses has a few stipulations that have become quite cumbersome for the entrepreneurs who wish to start a business in the U.S. The business men have to invest $1 million and their venture should be create 10 full-time employment opportunities. Congressman Polis has suggested that, new eligibility criterion should be established that can further streamline the visa process. The plans calls for a overhaul of the current visa system and as per the new visa, the foreign entrepreneurs will be granted an EB-5 visa if their projects are able to fetch $250,000 from U.S investors or $100,000 from an angel investor.

Via BBC.