Let Immigrants Kickstart Employment Act of 2021 or the LIKE Act
This bill establishes a new class of nonimmigrant visa (W visa) for qualifying start-up owners and essential employees (and the accompanying spouse or child of such aliens) and addresses related issues.
Under this bill, a start-up is a U.S. entity that has lawfully conducted business and was formed in the five years preceding an application for a start-up owner visa.
To be eligible for an initial visa as a start-up owner, an individual must (1) possess at least a 10% interest in the start-up; (2) play a central and active role in the start-up's management or operations; (3) possess knowledge, skills, or experience to substantially assist in the start-up's growth and success; and (4) provide evidence that the start-up has received certain investments, created jobs, or generated revenue.
The holder of a nonimmigrant start-up owner visa may receive lawful permanent resident status upon meeting certain requirements, including by establishing that the start-up has created a certain number of jobs and has met certain revenue targets.
To be eligible for a visa as an essential employee of a start-up, an individual must (1) have an offer of employment in an executive or managerial capacity at a start-up; and (2) possess knowledge, skills, or experience to substantially assist in the start-up's growth and success.
The bill limits the number of employees on essential employee visas that a start-up may have.