Angelo Paparelli Quoted in Business Daily: Africa
“Change in Start-Up Visa Law Sure Way to Lure Investment”

Los Angeles-based business immigration partner Angelo Paparelli was quoted in the October 18, 2010, Business Daily: Africa article, “Change in Start-Up Visa Law Sure Way to Lure Investment.” The article discussed the proposed reforms by U.S. lawmakers to change the policy on the EB-5 visa, which would allow more foreign entrepreneurs to establish businesses in the U.S. and create more jobs.

According to the article, the EB-5 visa currently permits foreign nationals who either invest at least $1 million into a U.S. start-up and create 10 jobs, or who invest $500,000 in capital investment and create five jobs in economically disadvantaged areas, to obtain permanent resident status. Proposed revisions would create a new EB-6 category for immigrant entrepreneurs and lower the investment threshold to $250,000. Angelo noted that the proposed changes would make it possible for entrepreneurs to start businesses under this provision and qualify for citizenship. Angelo explained that traditionally the EB-5 has benefited entrepreneurs starting retail, hospitality, and commercial construction enterprises. Sectors like technology typically run lean and “don’t employ 10 or more employees in the start-up phase.” 

Read the full article here: http://www.businessdailyafrica.com/Change%20in%20start%20up%20visa%20law%20sure%20way%20to%20lure%20investment/-/539444/1034436/-/view/printVersion/-/fpuqj8z/-/index.html.