Foreign entrepreneurs would be eligible for a “Start-up Visa” if their business plan attracts either:

(1) $250k from a venture capital operating company (or an entity owned by a v.c.o.c.) that is primarily U.S.-based

• Registered under Investment Company Act of 1940 or exempt from registration
• Organized or incorporated, and domiciled, in the U.S., and majority ownership is U.S. citizens or persons lawfully admitted to the U.S for permanent residence;

OR

(2) $100K angel investment (an investment in a commercial enterprise that was not, prior to such investment, owned or controlled by the investor, any family member of investor, or any entity owned or controlled by immediate family of investor) from an angel investor, who is either:

• Any individual who is a U.S. citizen or immigrant lawfully admitted to U.S. for permanent residence, or any entity wholly owned and controlled by U.S. citizens or immigrant lawfully admitted to U.S. for permanent residence;
• OR an entity with a track record of funding entrepreneurs (at least 5 angel investments totaling at least $250k during the 3 years preceding the completion of the agreement at hand;

AND

(3) can show that agreement is either in process of being carried out, or created the minimum number of required jobs (5 in a TEA, 10 otherwise), or generates a profit and at least $1M in revenue.

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Full text of H.R. 4259 (to facilitate foreign investment by permanently reauthorizing the EB–5
regional center program, and for other purposes).

See also: H.R. 4259 Fact Sheet.

Note: H.R. 4259 has been included now in the overall House Comprehensive Immigration Reform Bill.