The Obama Administration and U.S. Citizenship and Immigration Services (USCIS) today announced
new initiatives to encourage foreign entrepreneurs to remain in the United States and spur job creation through start-ups and investment. In a series of memoranda, the White House and U.S. Citizenship and Immigration Services Director unveiled policy clarifications that are intended to allow foreign entrepreneurs to more readily qualify for the H-1B nonimmigrant category, the second employment-based permanent residence category (EB-2), and EB-2 waivers of the labor certification requirement for activities that benefit the U.S. national interest.
The Administration also announced streamlined procedures for several immigration programs. Premium processing services will now be available to employers filing Form I-140 petitions for multinational managers and executives in the employment-based first preference category (EB-1). In addition, USCIS will implement streamlined procedures and increase staffing so that petitions for immigrant investors in the employment-based fifth preference category (EB-5) program can be adjudicated more quickly.
Fragomen is analyzing the new guidelines and will soon issue detailed Client Alerts on the entrepreneur initiatives.