For startup founders and entrepreneurs who have seen some success with their businesses, the O1 visa is a fantastic choice.
Introduction
Entrepreneurs and startup founders who have raised venture capital funding from angel investors, VCs, and those who have been accepted by renowned startup accelerators such as YC, 500startups, and Techstars are excellent candidates for the O-1 extraordinary ability visa for people with extraordinary abilities.
What is an O-1 Visa for Extraordinary Ability?
The O-1 visa for remarkable ability is a non-immigrant visa utilized by exceptional and gifted people in the arts, sciences, business, or athletics. To bring their creativity to the United States, these amazing people have worked as musicians, actresses, directors, screenwriters, make-up artists, tattoo artists, set designers, photographers, choreographers, business owners, educators, athletes, scientists, and engineers. The O-1 extraordinary ability visa enables the talent to temporarily work in the United States for periods of up to three years, with the possibility of extensions. An individual must present evidence of “exceptional achievement” to be eligible for the O-1 Visa for Extraordinary Ability.
O-1 Visa for Entrepreneurs Eligibility Criteria
You need to satisfy three out of the eight requirements listed below in order to be granted an O-1 visa for businesspeople and startup founders:
- A regional or global honor
- Participation in an elite association
- Significant media and press coverage
- Original and significant contribution
- Published academic works
- High pay and compensation
- Evaluate the efforts of others
- Essential function at a prestigious organization or event
Don’t give up if you still don’t meet three of these requirements. By providing additional credible proof that you will have a positive impact on the economy, that you have achieved commercial success in your field, or that your work has been displayed, exhibited, and showcased, you may still be able to demonstrate your eligibility for an O-1 extraordinary ability visa.
Applying for an O-1 Entrepreneur Visa
In order to file form I-129 and supporting documentation, applicants usually collaborate with a sponsoring employer or agent. It is important to stress that developing your supporting evidence with the help of an excellent immigration attorney is a crucial part of receiving an O-1 Visa. Your lawyer will assist you in securing strong, comprehensive reference letters from authorities in your industry. They will create a persuasive petition letter that shows your prior successes and positions you favorably to be granted O-1 status.
The I-129 form and any supporting documentation will then be submitted to the USCIS by your attorney. For an extra cost, premium processing is provided for O-1 visas. The O-1 worker can start working in the US after your petition is granted.
O-1 Entrepreneur Visa Processing Time: For accelerated O-1 approvals within 2 weeks, premium processing is available.
USCIS typically takes 3 to 6 months to decide on the petition.
Benefits of an O-1 Entrepreneur Visa
- The O-1 visa is normally valid for up to three years or the length of the contracted labor or performance. Because there are no restrictions on the number of extensions that can be submitted, unlike the H-1b visa, this is a desirable choice for workers who intend to eventually change their status to green card.
- No upper limit on prevailing wages. The O-1 visa does not impose a prevailing pay cap on the employee, in contrast to the H-1B visa. This is excellent for a small business that lacks finance but has plenty of equity.
- No requirement for treaty citizenship. The O-1 visa is available to all nationalities, in contrast to the E-2 visa, which demands citizenship of specific treaty countries.
- No prerequisite education is necessary. You will be granted an O-1 visa without having to meet the H-1B visa’s educational requirements if you can demonstrate that you meet the qualifications for someone at the top of their game.
- A technique to obtain a green card. Many O-1 visa holders eventually obtain a green card through the EB-1 program or other programs, changing their status to that of a citizen.