NFAP POLICY BRIEF » M A R C H 2 0 1 6

IMMIGRANTS AND BILLION DOLLAR STARTUPS

BY  STUART  ANDERSON

EXECUTIVE SUMMARY

Immigrants play a key role in creating new, fast-growing companies, as evidenced by the prevalence of foreign born founders and key personnel in the nation’s leading privately-held companies. Immigrants have started more than half (44 of 87) of America’s startup companies valued at $1 billion dollars or more and are key members of management or product development teams in over 70 percent (62 of 87) of these companies. The research finds that among the billion dollar startup companies, immigrant founders have created an average of approximately 760 jobs per company in the United States. The collective value of the 44 immigrant-founded companies is $168 billion, which is close to half the value of the stock markets of Russia or Mexico.

The research involved conducting interviews and gathering information on the 87 U.S. startup companies valued at over $1 billion (as of January 1, 2016) that have yet to become publicly traded on the U.S. stock market and are tracked by The Wall Street Journal and Dow Jones VentureSource. The companies, all privately-held and with the potential to become publicly traded on the stock market, are today each valued at $1 billion or more and have received venture capital (equity) financing.

USCIS reminded individuals applying for a change of status to H-4 that if they travel abroad before their Form I-539, Change of Status (COS) application is approved, USCIS will consider the application abandoned, and will issue a denial. Traveling abroad will also result in a denial of any Form I-765, Application for Employment Authorization, filed before the COS is approved, even if the individual is re-admitted as an H-4 nonimmigrant.

On March 17, 2015, the VSC began issuing two-year work permits under 8 C.F.R. sec, 274a.12(c)(14) to U applicants granted Deferred Action under the conditional grant program. If there is an I-765 application based on 274a.12 (a)(19) or on (a)(20) submitted with the U visa application then it may be changed to a (c)(14) to issue an EAD without delay for the applicant.

A principal applicant should include an I-765 based on (c)(14) with their U visa application. It is still a best practice for U visa derivatives to include two I-765 applications, one based on (c)(14) and one based on (a)(20). The (c)(14) basis provides work authorization while the derivative is in Deferred Action status with conditional approval; the (a)(20) basis applies when the U visa becomes available.

If only one I- 765 is submitted with the VSC during the conditional grant period, VSC will assign (c)(14) as the basis for work authorization, regardless of what is designated on the form. A new I-765 will need to be filed once the U visas become available based on (a)(20).

H-1B Filing Tips

On April 1, 2016, U.S. Citizenship and Immigration Services (USCIS) will begin accepting H-1B petitions subject to the fiscal year (FY) 2017 cap.
The congressionally mandated cap on H-1B visas for FY 2017 remains at  65,000.

The first 20,000 H-1B petitions filed for individuals with a U.S. master’s degree or higher are exempt from the 65,000 cap. USCIS expects to receive more than 65,000 petitions during the first five business days of this year’s program.

The agency will monitor the number of petitions received and notify the public when the H-1B cap has been met. If USCIS receives an excess of petitions during the first five business days, the agency will use a computer-generated lottery system to randomly select the number of petitions required to meet the cap. USCIS will reject all unselected petitions that are subject to the cap as well as any petitions received after the cap has closed.

H-1B petitioners may still continue to request premium processing together with their H-1B petition. However, please note that USCIS has temporarily adjusted its current premium processing practice based on historic premium processing receipt levels and the possibility that the H-1B cap will be met in the first five business days of the filing season. In order to prioritize data entry for cap subject H-1B petitions, USCIS will begin premium processing for H- 1B cap-subject petitions requesting premium processing no later than May 16, 2016.

H-1B petitioners are reminded that when the temporary employment or training will be in different locations, the state where your company or organization’s primary office is located will determine where you should send your Form I-129 package, regardless of where in the United States the various worksites are located. Please ensure that when temporary employment or training will be in different locations, the address on page 1, part 1 of Form I-129 is for your organization’s primary office.

When listing a “home office” as a work site location on Part 5, question 3, USCIS will consider this a separate and distinct work site location. Cases will be considered accepted on the date USCIS receives a properly filed petition with the appropriate fees.

Finally, a separate check is preferred but not required for each filing fee (such as fees for Form I-129, Premium Processing, Fraud Fee, ACWIA fee, and Public Law 114-113). Checks must be payable to the Department of Homeland Security, dated within the last six months, and include the proper amount and signature. Please staple checks to the bottom right corner of the top document.

For more information on the H-1B nonimmigrant visa program and current Form I-129 processing times, visit the H-1B FY 2017 Cap Season Web page or call the National Customer Service Center at 800-375-5283 or 800-767-1833 (TDD for the hearing impaired). H-1B applicants are encouraged to subscribe to the H-1B Cap Season email updates located on the H-1B FY 2017 Cap Season Web page.

NATIONAL FOUNDATION FOR AMERICAN POLICY

NFAP POLICY BRIEF  » M A R C H 2 0 1 6

IMMIGRANTS AND BILLION DOLLAR STARTUPS

BY STUART ANDERSON

EXECUTIVE SUMMARY

Immigrants play a key role in creating new, fast-growing companies, as evidenced by the prevalence of foreign born founders and key personnel in the nation’s leading privately-held companies. Immigrants have started more than half (44 of 87) of America’s startup companies valued at $1 billion dollars or more and are key members of management or product development teams in over 70 percent (62 of 87) of these companies. The research finds that among the billion dollar startup companies, immigrant founders have created an average of approximately 760 jobs per company in the United States. The collective value of the 44 immigrant-founded companies is $168 billion, which is close to half the value of the stock markets of Russia or Mexico.

The research involved conducting interviews and gathering information on the 87 U.S. startup companies valued at over $1 billion (as of January 1, 2016) that have yet to become publicly traded on the U.S. stock market and are tracked by The Wall Street Journal and Dow Jones VentureSource. The companies, all privately-held and with the potential to become publicly traded on the stock market, are today each valued at $1 billion or more and have received venture capital (equity) financing.

Lomi Kriel, Houston Chronicle, Mar. 15, 2016 – “The backlog in Houston’s overwhelmed downtown immigration court grew more than 460 percent between 2010 and 2016, swelling from about 6,400 to 36,100 pending cases, according to a new analysis released Tuesday.  With only six immigration judges on the bench, Houston’s court could see its case load double again in three years if no more are added, found the report by Human Rights First, a national nonprofit. In six years, the number of pending cases across the country could reach more than 1 million, twice as much as it is now.”

USCIS will host a webinar on March 16, 2016, to discuss T and U visas and the Violence Against Women Act (VAWA), immigration relief for victims of human trafficking, domestic violence, and other serious crimes. Representatives from USCIS’s Office of Policy and Strategy and the Vermont Service Center (VSC) will provide an overview of T and U visa eligibility requirements, law enforcement certification, and VAWA eligibility requirements. A question-and-answer period will follow the presentation.

The Fiscal Year 2017 H-1B season will end at the end of this month March 2016. USCIS will start accepting H-1B visa petitions on April 1, 2016. We anticipate that the cap will be reached during the first week it is opened, which was the case last year as well. For that reason we strongly recommend that you start your H-1B case and prepare for submission of the petition by April 1, 2016.

For more information on H-1B visas, please contact us at 713. 527. 9606.

Deferred Action by the Department of Homeland Security (DHS) stops the unjust deportation of promising youth.

To be eligible for deferred action the applicant must:

• Have arrived in the U.S. when they were under the age of sixteen;
• Have continuously resided in the U.S. for at least five years prior to June 15, 2012 and have been present in the U.S. on June 15, 2012;
• Currently be in school, have graduated from high school, have a GED, or be an honorably discharged veteran of the U.S. Coast Guard or the U.S. Armed Forces;
• Not have been convicted of a felony offense, a “significant misdemeanor offense,” three or more non-significant misdemeanors, or otherwise pose a threat to national security or public safety; and
• Have been under thirty-one years old on June 15, 2012.

The Department of Homeland Security (DHS) announced that details will follow within the next sixty (60) days as to which will be the procedure to follow in order to benefit from this program. Please note that, at this time, there are no forms to file nor payment established to apply for the Deferred Action plan.