There are many people who immigrate to the US with high hopes of getting a better life. They come to the United States of America for better employment opportunities, easier access to higher education, housing, and even enhanced health care under a systematic infrastructure.
Often there are immigrants who wish to start a new business, work in retail services, restaurants, health care, real estate, technology, or the construction industry. Besides helping themselves make a daily living, there are many others who have added to the economic growth of the country. In fact, it was found that immigrant-owned businesses hired more than 20 million people and generated $5.8 trillion in the form of revenue.
Setting up a business is possible but it has several challenges
In case you’re wondering whether or not it is possible for an immigrant to start a business in the US, the straightforward answer to it is ‘Yes’. Keeping in mind the above-mentioned statistics, it has been proved that immigrants are achieving their business goals in the US. However, it takes a lot of patience and time to overcome the impediments that come with starting a business as an immigrant.
If you’re still not a permanent resident, you don’t fall into any visa category as an entrepreneur. However, to know more on Immigrant visas, you may check out the link here.
If you want to get a visa as an immgirant investor, that is possible. You might grab an EB-5 visa but you require having more than $1 million to invest as well as the sheer capability of hiring staffs in your business. This is sadly applicable on very few immigrants as most people don’t have such huge capability.
You may find many working under the Startup Act but to be honest, this idea is still in its nascent stage and has not yet been tested.
What to remember before starting a business as an immigrant
One thing that you need to remember about starting a business as an immigrant is that it doesn’t come with automatic privileges. Hence, a foreign entrepreneur can also be the director or corporate officer of a startup or a company that has been in the business for a long time.
Immigrants have to first get a work permit in order to work in the country or draw a salary. You might need a special visa or a green card that are issued by the government of the US. A foreigner can still make profits while working in a company but he also has to pay his taxes on time.
They can only get compensated through a branch of the same company he worked with in his home country. Hence, when you’re an immigrant businessman, you need to have enough funds to support yourself until you are a green card holder or a citizen.
Therefore, becoming an immigrant entrepreneur is not a simple process but it is not impossible too. Keep in mind the points given above while stepping into entrepreneurship in a new country.
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