There Is No Immigration Visa For Entrepreneurs

In a 2021 interview, Kimbal Musk said he and Elon would have complied with the law if it was feasible. “I tried to get a visa, but there’s just no visa you can get to do a startup,” said Kimbal. “I was definitely illegal.”

Kimbal Musk is correct that there is no immigrant entrepreneur visa under U.S. law. Congress could have created one as part of the CHIPS and Science Act in 2022. The Democratic majority in the House passed a measure allowing individuals to gain permanent residence if they reached specific startup benchmarks, including attracting venture capital. However, Sen. Charles Grassley (R-IA) blocked the provision from becoming law in a conference committee. Grassley also stopped the bill from including an exemption from annual green card limits for foreign nationals with a Ph.D. in science and technology fields and those with a master’s degree “in a critical industry.”

According to a National Foundation for American Policy analysis, 55% of U.S. billion-dollar startups have at least one immigrant founder. Another NFAP study found immigrants have founded or cofounded nearly two-thirds (65% or 28 of 43) of the top AI companies in the United States. Seventy percent of full-time graduate students in fields related to artificial intelligence are international students.

Donald Trump Is Unlikely To Liberalize Business Immigration

An analysis of the Trump administration’s policies concluded that while Donald Trump was president, his administration did not enact or propose any measures to expand the entry of high-skilled foreign nationals or immigrants to the United States.

A court blocked Trump officials from toughening policies on “unlawful presence” for international students who fall out of immigration status. Trump’s Department of Labor twice proposed rules aimed at pricing H-1B visa holders and employment-based immigrants out of the U.S. labor market. H-1B denial rates soared until a legal settlement forced Trump officials to stop what judges declared a host of unlawful practices. The National Venture Capital Association sued the Trump administration after it refused to implement a program that allowed foreign entrepreneurs to stay in America.

According to Fortune magazine, Elon Musk has given at least $132 million in political donations aimed primarily at electing Donald Trump. Musk may be disappointed if he expects Trump to make it easier for immigrants with aspirations like those of a young Elon Musk to succeed in America.