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Immigration Proposals and Foreign Investment

Immigration Proposals and Foreign Investment. Geraldine Govea. BUSINESS THAT EMPLOY FOREIGN NATIONALS. BUSINESSES FORMED BY FOREIGN NATIONALS. To whom does Homeland Security give employment visas to?. PERMANENT WORKER VISA PREFERENCES:

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Immigration Proposals and Foreign Investment

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  1. Immigration Proposals and Foreign Investment Geraldine Govea

  2. BUSINESS THAT EMPLOY FOREIGN NATIONALS

  3. BUSINESSES FORMED BY FOREIGN NATIONALS

  4. To whom does Homeland Security give employment visas to? • PERMANENT WORKER VISA PREFERENCES: • EB-1: persons of extraordinary ability in the sciences, arts, education, business, or athletics; outstanding professors or researchers; and multinational executives and managers.   • EB-2: preference is reserved for persons who are members of the professions holding advanced degrees or for persons with exceptional ability in the arts, sciences, or business. • EB-3:preference is reserved for professionals, skilled workers, and other workers. • EB-4: preference is reserved for “special immigrants,” which includes certain religious workers, employees of U.S. foreign service posts, retired employees of international organizations, alien minors who are wards of courts in the United States, and other classes of aliens.  • EB-5: preference is reserved for business investors who invest $1 million or $500,000 (if the investment is made in a targeted employment area) in a new commercial enterprise that employs at least 10 full-time U.S. workers.

  5. Steps to gaining Full-time employment in the U.S. • Form I-129 : Petition for Non-immigrant worker by Corporation to get employment visa (DHS) • Labor Certification (PERM) for EB-2 & EB-3 (DOL) • Form I-140: Petition for alien worker to work indefinitely in U.S. (DHS) • Form I-485: Application to Register as a Permanent Residence. (DHS)

  6. So, how does the hiring of skilled immigrants affect the employment structures of US firms? First, the structure of many skilled immigration admissions is designed in part to allow companies to select the workers that they want to hire, rather than mi- grants being selected by the U.S. government. According to Harvard Business School Associate professor, William R. Kerr, employment structure impacts employees makeup in 3 ways: Hiring young skilled immigrants raises the overall employment of skilled workers in the firm. Hiring skilled immigrants increased the immigrant share of these immigrants It reduced the share of skilled workers over the age of 40.

  7. Corporations see a need for immigration reform Proposals: Put a monetary cap on those who fall on the EB-1 and EB-2 preferences of the same amount of the EB-5 to a quicker work visa ( 2-6 months) For foreign students who complete their M.A., PhD., M.D., e.t.c, with outstanding grades, in an accredited U.S. College or University, a working visa will be granted in the same amount of time as that of an EB-5. (2-6 months)

  8. Sources http://immigrationimpact.com/2013/08/21/immigrant-entrepreneurs-help-build-u-s-economy-one-company-at-a-time/ http://www.uscis.gov/forms http://www.forbes.com/sites/hbsworkingknowledge/2014/01/22/immigrant-high-tech-workers-not-costing-us-jobs/ http://hbswk.hbs.edu/item/7388.html http://www.h1base.com/visa/work/h1bvisa10toph1bsponsorsreview/ref/1691/ http://www.forbes.com/pictures/eglg45fimgi/no-10-mahindra-satyam-5/ https://egov.uscis.gov/cris/processingTimesDisplay.do;jsessionid=bac6ldU6-BWj17aXbfhwu

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