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What to know if you're starting a business
Contents:


  1. Immigrant Entrepreneurship in America Is Declining - The Atlantic
  2. Immigrant Entrepreneurs: Everything You Need to Know to Get Started
  3. You are here

Our cities and communities are committed to making it easier for every entrepreneur to start a business. Accordingly, we resolve to:.

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Immigrant Entrepreneurship in America Is Declining - The Atlantic

Find out here. You are here Home Blog. Check out the chart to see just how much time it takes Americans to discover, apply for, and acquire licenses and permits, compared to entrepreneurs in other countries -- and see what we're doing to fix that. The SBA will also develop a federal tool that will help startups get the national licenses and permits they need more quickly.

The National League of Cities, representing thousands of municipal leaders around the country, is establishing a Startup in a Day program to support and coordinate these efforts. Permanent residency visas, in contrast, allow you to get a green card, so you can reside and work indefinitely in the US. These visas are a good option for entrepreneurs who want to settle down in the US long-term. There are two sets of visas that are best for entrepreneurs: extraordinary ability visas and investor visas. You have to renew them before they expire. Permanent residency visas allow you to stay and operate your business here indefinitely.

Entrepreneurs who have achieved great success in their native countries or have a very promising business idea can apply for an extraordinary ability visa. To get approved for an extraordinary ability visa, you have to prove to the US government that you have extraordinary talent in business or in your particular industry. And the visa provides an opening for driven entrepreneurs with rapidly growing businesses or a great business idea. The EB-1 and O-1 visas are the two types of extraordinary ability visas.

O-1 is a non-immigrant visa that grants temporary status. The EB-1 visa grants permanent residency status and has a higher bar for qualification. Qualifying for an EB-1 visa is challenging. According to the IRS :. You must be able to demonstrate extraordinary ability in the sciences, arts, education, business, or athletics through sustained national or international acclaim. Your achievements must be recognized in your field through extensive documentation. Examples for entrepreneurs are three of any of the following :.

As this list demonstrates, EB-1 visas are tough to obtain. But if your company is an industry leader or you have impressive business experience, then this could be an avenue to permanent residency in the US. EB-1 visas get preference over other types of visas , except for family-based green cards. The O-1 visa is similar to the EB-1 visa because both are reserved for highly qualified people.

However, the bar is slightly lower for O-1 because this is a temporary, non-immigrant visa. According to the IRS:. The O-1 nonimmigrant visa is for the individual who possesses extraordinary ability in the sciences, arts, education, business, or athletics, or who has a demonstrated record of extraordinary achievement in the motion picture or television industry and has been recognized nationally or internationally for those achievements. To qualify for an O-1 visa, the beneficiary must demonstrate extraordinary ability by sustained national or international acclaim and must be coming temporarily to the United States to continue work in the area of extraordinary ability.

To qualify for the O-1 visa, you still have to show extraordinary talent with similar evidence as EB-1, such as winning a business award or receiving media coverage. If top-tier investors put money into your business, then you might qualify for an extraordinary ability visa. Some entrepreneurs immigrate through an investor visa instead.

Immigrant Entrepreneurs: Everything You Need to Know to Get Started

Investor visas allow entry into the US in exchange for investing money into a business—the business can be your own—and creating jobs in the US. The money can come from a business loan, as long as the following requirements are met:. Out of the two investor startup visas, the EB-5 visa is more challenging to get. The cap on the number of visas EB-5 is 10, per year, so this is a pretty exclusive program. The EB-5 visa is available to entrepreneurs who meet both of the following requirements:.

The minimum investment required, Rosmarin says, is lower in certain economically underserved areas, called Targeted Employment Areas.

Starting a Business in the US as a Non-Resident - All Up In Yo' Business

To show that you meet the requirements, you have to submit appropriate documentation to the government, such as a business loan agreement, investment agreement, a business plan , and copies of job advertisements. To be eligible for E-2 visa, your native country must have an investor treaty with the US. Shar Behzadian is the founder of TravTribe , a marketplace that helps travelers make money from affiliate partnerships with travel brands. I was an immigrant and a first-time startup founder. I persisted, burnt out, but then stepped back into the game.

Shar and Jerry met last summer over coffee. He spent the last two decades leading Interpeace and Habitat for Humanity in Africa, engineering peace and empowering local communities. Extraordinary ability visas and investor visas are typically the best options for entrepreneurs who want to operate a business in the US. There are other visas which you may come across during research and that you can discuss with your lawyer.

San Antonio also has the distinction of being one of the most affordable big cities in the country. Small-business owners will find reasonable taxes, a well-educated workforce and a low unemployment rate 3. The diverse population — one-third of residents speak both Spanish and English — is 1. As the capital of the so-called "flyover" state, Des Moines is especially business friendly. The cost of doing business here is 17 percent lower than the national average, making it an attractive place for start-ups.

Insurance companies rule the business scene here, with more than 80 firms maintaining offices in and around the city. Other notable industries include publishing, financial services and distribution and logistics. Wells Fargo is the largest private employer, with 14, employees in the greater Des Moines area. Not surprisingly, the unemployment rate is lower than the national average. The area also offers a great quality of life. A vibrant downtown area with one-of-a-kind shops, locally owned restaurants and bars, and cool condos and lofts draw millennials, while beautiful, older homes in quieter surrounding suburbs attract new and growing families.

Though there's an educated, young workforce and a diversity of industries for start-ups to tap into, Iowa does levy the highest corporate tax rate 12 percent in the country. Personal income-tax rates range from 0. Spread across 18, acres between the two cities, DFW handles 64 million passengers a year, earning it the designation as one of the busiest airports in the world.

But even with its size five airline terminals and 2, daily flights , DFW is well run, easy to navigate and allows travelers to get in and out quickly. In Dallas the top industries are technology, financial services and defense. Fort Worth is strong in oil and gas, aerospace and aviation. The area's unemployment rate is 3. Dallas doesn't have individual income tax or corporate income tax, but it does levy a margins tax on gross receipts for businesses.

That hasn't stopped venture capital money from flowing into the area. A huge slice of the money went to local software companies.

Ogden combines the best of a city and a mountain town. The area has access to numerous outdoor activities, including hiking, skiing and biking, and has attracted outdoor recreational companies such as Rossignol, Goode Ski and Amer Sports. Aerospace, IT software and outdoor recreation are the biggest industries in the area.

The broader, Northern Utah region has a strong existing base of aerospace and composites companies, with more than 30 companies and an estimated 16, employees. Utah overall is known for its business-friendly environment and low taxes, and Ogden benefits from this. The unemployment rate is 3. If there's one adjective that makes Houston attractive to would-be business owners, it's "affordable. Though the oil and gas industries still dominate in Houston, the city is actually home to 25 Fortune companies, including Sysco and Group 1 Automotive.

The Texas Medical Center has more than 50 research labs and health-care institutions, making it especially attractive to start-ups in the medical space. The unemployment rate, at 4. With more than 2. More than half of its residents are either Hispanic or African American. They're young as well: Approximately Though it's long been considered a banking hub — Bank of America has its headquarters here, and Wells Fargo has a significant presence — Charlotte also boasts strong health-care and retailing industries.

Lowe's is headquartered in nearby Mooresville, and American Airlines employs many residents as well. The unemployment rate is 4. And Charlotte keeps growing: The city had the 10th-largest population growth last year among big cities, according to the Census Bureau, with , residents. The city's nonprofit Business Innovation and Growth Council works to foster entrepreneurship and connect small-business owners with the resources to help them grow.

The individual income-tax rate in Charlotte is 5. Housing has recovered quite nicely since the recession, with home sales up 71 percent from a year ago. The Mile High City, so named for its 5,foot elevation, is located at the base of the Rocky Mountains and is probably best known for its skiing and snowboarding venues. But the local economy has definitely expanded since residents voted to legalize recreational marijuana in Today there are numerous cannabis-related small businesses setting up shop, and that's attracting people, especially millennials, to the city.

According to the real estate website Zillow, to year-olds accounted for 35 percent of the city's population growth from to The Denver metro area has a low unemployment rate, of 3. Businesses looking to set up shop in Denver will find a well-educated workforce. The University of Colorado and the University of Denver are located here and help turn out graduates needed for the thriving aerospace, biotech and telecommunications industries.

Housing costs have risen in recent years as the population has blossomed to more than 2. Though it's our nation's capital and politics seem to be the singular focus, Washington, D.


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In fact, it ties with Houston and Dallas as the most diverse city on our list and tops the group with the highest percentage of residents with a bachelor's degree or beyond. The metro area also gets its share of start-up funding. That cash infusion is balanced by above-average wages and a 6. The tax climate in D. Individual income-tax rates range from 4 percent to 8.

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But with a steady economy, thanks in large part to the federal government, and lots of government agencies as potential customers, small businesses can find a solid business environment in the Washington, D. Provo has been lauded for many things — one of the best places to raise a family, one of the healthiest places to live — and now a great place to start a business. In fact, over the years, there have been a dozen budding entrepreneurs on the reality series "Shark Tank" who hail from Provo.

The metro area prides itself on being start-up friendly. The city's entrepreneurial hub is called — what else? A low unemployment rate — 3. Of course, no mention of Provo would be complete without a nod to Brigham Young University. The metro area benefits from the skilled workforce turned out at BYU — especially students in its entrepreneurial Innovation Academy.

This program acts as an incubator and enables students to work with their peers to learn how to start and run a small business. With a population of just over 2 million, the Austin metro area is home to a sizable tech industry as well as a thriving music scene. That might explain why the tech-friendly SXSW festival has called this city home since