The new H-1 B visa rule appears to be quite promising for entrepreneurs. The U.S government has made significant changes to the H-1 B visa programme, along with the final H-1 B modernization rule that redefines qualification to be an ‘employer’.
So the good news is coming right from the US Department of Homeland Security (DHS), that you can self-sponsor yourself by applying for the H-1 B visa through your own business, after fulfilling the eligibility criteria. Firstly, let us know what is H-1 B-
What is the H-1 B visa?
The H-1 B is a visa in the U.S that allows the companies in America to hire foreign workers in specialty occupations. There is a limit on the number of visas to be issued to applicants from a single country, which creates a gridlock for the Indians, and leading to hefty competition.
There is a cap on the number of visas issued, only 7% visas are allocated to workers from a single country. A country like India that has a large population of skilled workers and high visa demand faces the crunch.
Changes under the H-1B visa programme-
The new US proposal aims to eliminate this country cap, which means there will be no limit to the H-1 B visas issued to a particular country. It would be based on certain merits like the number of skilled workers that the country has.
Till now, Indians have faced delays in getting both employment and family based visas.
The benefits followed for Indians-
The removal of the cap will create new opportunities. The H-1 B visas can be secured without worrying about the cap, the skilled workers and professionals from India can look forward for new pathways in the US.
With Indians excelling in certain fields like IT and engineering, there is a high chance of them being the top applicants and working in leading companies of the US.
The H-1 B visas can help the Indian professionals attain green cards, that is permanent residency. They can work for long term in the States.
There will be a surge in economic growth and technological advancements which can prove beneficial for both the nations.
The H-1 B for the entrepreneurs-
One of the biggest update that is real great for the Indians is having the H-1 B via your own business, you don’t have to be hired by any other business abroad. So, basically the H-1 B is more than a 9 to 5 job, you are going to back yourself as an entrepreneur. Let us see how:
After the new rules, an Indian entrepreneur founding his company can be an employer as well as a visa beneficiary. This is simply after meeting the general qualifications of –
The company must be legal as per the norms in the US with a 3-year roadmap and business plan.
You must have specialized skills, with your role related to the degree.
The role must pay you more than the minimum wage criteria in the US. And you will have to prove that you can pay yourself a salary for next three years to the least.
Using H-1 B as a founder, you will be able to own up to 100% equity and your spouse can also get work authorization via, the H-4 EAD.
With the present system, the entrepreneurs had to face many challenges like –
The immigrants till now were entirely dependent on the employers to sponsor their H-1 B visa applications, which will be now in their hands as founders of the company.
Founding a startup would be easy now. The professionals on an H-1 B visa had to wait for years to get their green cards. And without a green card, they cannot own a business. While you are able to sponsor yourself, you can establish the company early on an H-1 B visa.
The DHS has even released a statement, “If more entrepreneurs are able to attain H-1 B status to develop their business enterprise, the US could benefit from the creation of jobs, new industries, and new opportunities.” While there is still a debate going on in the US for the H-1 B visa expansion, the neglect towards investment on the American workforce, racist hate and the huge effect of removing the country caps; let us see what comes over next. But, you must know that you will still have to be picked in the H-1 B lottery.