USCIS passed a new rule to permit foreign entrepreneurs who could provide evidence of their extraordinary ability and their activities could help in job creation and economic growth of the country. The entrepreneur visa basically represents the O-1A visa petitioner who is categorized as a foreign national with extraordinary ability in science, business, athletics, and education. It is important for an O-1 Visa petitioner (Entrepreneur Visa US) to hire the best immigration attorney who can help them get the O-1 visa. The O-1 Visa (US startup visa) can only be petitioned by either a foreign employer, a U.S. agent or a U.S. employer.
Entrepreneur Visa Duration and Eligibility
The O visa petitioners are issued an initial period of stay for up to 3 years. The validity period of the US start-up visa commences with the date of approval of the visa and ends with the end date requested by the petitioner. The end date is approved by the USCIS depending on the duration that is considered necessary for the completion of the activity in the United States. The initial period of stay approved by USCIS is for 3 years and the petitioner should submit an application for extension of stay which will be approved by USCIS in increments of up to 1 year, once the duration for completion of event or activity is determined.
To qualify for an O-1 Visa (entrepreneur Visa US) the alien has to provide evidence demonstrating that they will be traveling to the United States on a temporary basis for a work-related event or activity. According to the Code of Federal Regulation, an O status is reserved for events or activities such as conferences, scientific projects, lectures, conventions, exhibits, business projects, tours, to name a few.
Benefits of O-1 Visa
A startup visa or the O-1 Visa has more benefits than other work-related visa statuses such as the H-1 B or the L-1. The O-1 Visa status is a broad category reserved not only for people in research, science or business but it also covers those foreign artists who will be participating as athletes, entertainers or taking part in any other foreign production. While the H-1 B status is reserved only for professionals. One of the major benefits of the O visa (Entrepreneur Visa US) is that it does not have an annual quota reserved. Hence, once the annual quota of the H-1 B Visa has reached, the H-1 B applicants who qualify for an O-1 visa can also apply. An O-1 Visa also has benefits for J-1 exchange visitor program petitioners who have to meet the requirements for a two-year foreign residency.
O Visa petition Application process
Form I-129 petition for the nonimmigrant worker should be submitted by the employer, sponsor or the agent on behalf of the beneficiary. However, the nonimmigrant worker cannot self-petition in this scenario. If the O-1 Visa (Entrepreneur Visa) holder has a new employer, they will have to request the employer to submit a new I-129 petition for a new job role or the extension of stay. The O-1 Visa petition has to be filed by a U.S. employer or agent and the petition cannot be submitted by a foreign employer without the U.S. agent acting as the catalyst.