StartupTalky

Tag: joe biden

  • What is Startup Visa and How can Entrepreneurs benefit from it

    During the administration of Donald Trump, the United States of America had barred a lot of Visas and had bought a lot of regulations on the immigration by the foreigners to the country. People from all around the world found it difficult to immigrate into the United States under the Trump administration.

    Recently Joe Biden has reopened the doors for the foreign entrepreneurs through startup visas. Let’s look at what exactly is a startup visa.

    What is Startup Visa
    Eligibility for Startup Visa
    Views on IER
    Immigrant Entrepreneurs in the US
    Other advantages of the Startup Visa
    How will it affect US Economy
    FAQ

    What is Startup Visa

    The door for the foreign entrepreneurs to enter the United States of America has been reopened under the administration of Joe Biden. The US Department of Homeland Security (DHS) had announced that it is withdrawing a proposed rule which was issued under the administration of Trump.

    The withdrawn proposed rule was to remove the International Entrepreneur Rule (IER) which is more commonly known as the Startup visa programme.

    IER is also known as startup visa. This will act as a permit for the foreign entrepreneurs to enter the country and stay in the country for a period of 2.5 years and also has a possibility of another extension for a similar period of time.

    Eligibility for Startup Visa

    IER or the Startup visa will let entrepreneurs who are qualified which will be based on certain conditions such as funds raised which should be a minimum of USD 250,000 if it is from a qualified US investor or USD 100,000 which should be through government grants.

    If they meet the above criteria the entrepreneurs will obtain the immigration parole. The immigration parole will let the entrepreneurs to temporarily enter the country to stay, build and develop their startup even without having a green card or a working visa.

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    StartupTalkyParnas Ghosh

    Top Countries with most number of Startups
    Top Countries with most number of Startups

    Views on IER

    DHS has stated that the withdrawal of the policy is an effort of the Biden’s administration to ensure that all the ways available under the law should be available for the ones who are trying to come to the US which includes the qualified entrepreneurs who would come to the US grow their startups that would benefit the country by growing their business and creating new jobs for the workers.

    Fiona McEntee who is a Chicago based immigration attorney has conveyed that, she is thrilled that the Biden administration has decided to implement the IER and added that the current immigration system does not provide an option for the foreign entrepreneurs to enter the Country which provides a competitive disadvantage and IER is expected to fill that gap. She added that the country will have to do what it can in order to retain the innovative immigrant entrepreneurs.

    Immigrant Entrepreneurs in the US

    Bobby Franklin who is the President and CEO of the National Venture Capital Association has said that the immigrant entrepreneurs in the country have made huge contributions to the economy of the US. The entrepreneurs have created some of the major companies in the country such as Moderna and Pfizer which have successfully developed vaccines for Covid-19.

    He added that by implementing IER the Biden Administration has unlocked a way for job creation which would help US in remaining as a global leader in innovation.

    Other advantages of the Startup Visa

    The foreign entrepreneurs even the ones from India will have an added advantage because of IER. Other than the advanced technology that is available in the United States even when the founders of the company are present in the same country, the US investors would have a comfort level.

    Hence, with a US base, the access for funding and the future for the growth of startups especially the tech-based startups would be much more easier. It is a win-win situation for both the parties.

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    StartupTalkyMichelle D’souza

    How will it affect US Economy

    According to an early representation made by the National Venture Capital Association and other associations to the DHS, the IER is expected to create more than 4.29 lakh jobs in the first 10 years which would account for more than USD 25 billion in the form of additional wages and will also inject the indirect value of around USD 18 billion to the US economy.

    FAQ

    Which countries have startup visa?

    Australia, Austria, Canada, Chile, Denmark, Estonia and France are some of the top countries that have Startup Visa.

    Which country is best for entrepreneurs?

    Japan, Germany, United States, and United Kingdom are some of the best countries for entrepreneurs.

    Which country has most successful startups?

    United States, China, India, and UK are some of the countries with most Unicorn startups.

    Conclusion

    Countries such as Canada, UK and Israel already have a separate category of visas for foreign entrepreneurs. The IER was originally created at the end of Obama’s administration but was later stopped under the Trump administration.

  • Why Joe Biden proved to be Best US President in last 75 Years for Traders

    Joe Biden is the newly elected President of the United States of America. He is the 46th President of the United States and is considered to be the best President for stock market traders compared to the President’s of the last 75 years. Let’s look at why Joe Biden is considered to be the best President for the traders.

    U.S Stock Market
    Returns
    Reason
    Earnings
    FAQ

    U.S Stock Market

    In the first 100 days of Joe Biden’s Presidential rule in the United States, the stock market of the country has provided better returns compared to any other President from the past 75 years. The data was provided by JP Morgan.

    JP Morgan’s analysts that were led by John Normand reviewed the administration performance of Joe Biden since the day of the inauguration and discussed on how the various policies on tax and the programmes related to spending could move the markets in the coming months. This was discussed on 23 April 2021 in a note to the company’s clients.

    The analysts said that the record fiscal stimulus had increased the returns on equity to all-time highs in the first 100 days of Joe Biden’s rule. They added on to the note saying that the results are not bad for Biden whom Donald Trump had labeled as Sleepy Joe during the election campaign.

    Returns

    The returns provided by the S&P 500 after 100 days of Joe Biden’s Presidential rule are around 25% for the first 100 days from the day of inauguration. When compared to the returns received after the former President Donald Trump’s Presidential rule was below 15 % for the first 100 days from the day of inauguration.

    The data from JP Morgan showed that the average S&P 500 returns on equity of the Democratic Presidents were more than double the average returns provided by the Presidential rule of Republicans since the end of World War II.

    The highest returns which were received by any President for the first 100 days mark previously was by President John F Kennedy which was more than 20 %.

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    StartupTalkyMichelle D’souza

    Reason

    JP Morgan added on saying that the Biden’s policies since the day of the inauguration have benefited the market. This was because the proposed policies of Joe Biden were undoubtedly positive. Joe Biden has also planned to increase the capital gains to nearly double as much as around 43 % for the wealthy Americans.

    The JP Morgan team said that there would be a drag on the market in the year 2021 due to the hikes on the taxes for corporations and individuals in order to fund spending on social and infrastructure with a strict regulatory environment.

    Earnings

    The JP Morgan team added that they did not expect that the increases in the tax would cause a big dip in the earnings. The view since the campaign of 2020 has been that a higher rate on corporate is expected to reduce the Earnings Per Share of S&P 500 by many dollars.

    But within a sudden growth in the earnings environment which is because of the higher tax rates and the reopening because of the vaccine drives. The strategists of JP Morgan with regards to the US equity have checked and expanded the original analysis this week which shows that there is no change to the target of the 4400 mark by the end of this year in the S&P 500.

    JP Morgan said that an increase in the capital gains tax rate in 1986 from 20% to 28% and 2013 from 15 % to 25 % had led to about 5 % drawdowns in a month in the equity market before the new codes coming into effect.

    But the analysts said that it is a sample size that is smaller and the Tax Reform Act of 1986 had lower individual and corporate rates. The analysts added that overall, from the Biden’s tax policies they expected that it would increase a continuous rotation into the value based stocks that would be far from the big growth companies and the tech companies. This would be instead of a downturn in the market.

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    StartupTalkyAlan Joseph

    FAQ

    What is the Net worth of Joe Biden?

    The president of America is paid a $400,000 a year; on top of that, they receive an extra $50,000 expense allowance, a $100,000 non-taxable travel account and $19,000 for entertainment.

    How old is Joe Biden?

    The age of Joe Biden is 78 years.

    Who is the wife of Joe Biden?

    Joe Biden’s wife is Jill Biden.

    Conclusion

    The view of JP Morgan has been supported by the UBS Global Wealth Management. They have informed their clients in a note in the month of April that they had not found any correlation between the valuations of equity markets and tax rates on capital gains.