The United States has long been a beacon of hope and opportunity for individuals seeking a better life. With a rich mosaic of cultures, the immigrant population contributes significantly to the nation’s fabric. According to the Migration Policy Institute, the largest group of immigrants hails from Mexico, but the diversity of origins is astounding.
Here’s a closer look at the top countries of origin for immigrants in the U.S.:
Mexico: 10.7 million
India: 2.71 million
China: 2.38 million
Philippine: 1.98 million
El Salvador: 1.42 million
Vietnam: 1.34 million
Cuba: 1.28 million
Dominican Republic: 1.26 million
Guatemala: 1.11 million
Korea: 1.01 million
Source: Migration Policy Institute analysis of 2021 American Community Survey data. Graphic: Catherine E. Shoichet, CNN.
The Economic Pulse of Immigrants
Immigrants are not just residents; they are dynamic contributors to the U.S. economy. A striking 35% of small restaurant owners are immigrants, transforming neighborhoods into vibrant culinary hubs. As of now, 14% of the U.S. population is foreign-born, with over half of them proudly holding U.S. citizenship. Remarkably, nearly 70% of immigrants report speaking English well or very well, showcasing their dedication to integration and communication.
Source: American Immigration Council
In 2019, approximately 44.9 million immigrants represented 14% of the national population. This significant presence highlights their essential role in shaping America's future.
A Snapshot of Educational Attainment
The educational backgrounds of immigrants reflect a diverse spectrum of experiences and aspirations.
Here's how they compare to native-born Americans:
Source: U.S. Census Bureau, 2019 American Community Survey 1-Year Estimates.
With 28.5 million immigrant workers comprising 17% of the U.S. labor force, their impact on the economy is undeniable. These individuals bring skills, innovation, and resilience to various sectors, enriching the workforce and driving growth.
Immigrant Workforce: Key Industries
Immigrants are most heavily represented in the following industries, where their expertise and hard work are making a difference:
Source: Analysis of the U.S. Census Bureau’s 2019 American Community Survey 1-Year PUMS data by the American Immigration Council.
Entrepreneurs in Action
Immigrants are not only workers but also business owners. They account for about 18% of business owners with employees and nearly 23% of business owners without employees. Their entrepreneurial spirit is evident across all sectors of the U.S. economy. In fact, immigrants make up 36.8% of employer businesses in accommodation and food services, while they represent 46% of non-employer business owners in transportation and warehousing.
Source: Small Business Administration (SBA)
Starting a Business in the U.S.: A Path for Foreign Nationals
Are you a foreign national dreaming of starting a business in the U.S.? The answer is a resounding yes! You can launch and own a U.S. company without a visa, and in many cases, you don’t even need to set foot in the country to get started. While managing a business entity like an LLC or corporation from abroad is perfectly legal, operating within the U.S. may require a valid work visa.
Business-Friendly States and Visa Options
Business-Friendly States and Visa Options
Choosing the right location for your business is crucial. Various states offer business-friendly environments characterized by favorable tax structures and regulations. Here are some business visa options worth considering:
EB-5 Visa: Designed for investors who can create jobs in the U.S.
L-1 Visa: For intra-company transferees.
E-2 Visa: For investors from treaty countries.
IEP Visa: For individuals engaging in trade.
Important Considerations for Aspiring Entrepreneurs
If you enter the U.S. on a B1/B2 visa, seize the opportunity to:
Establish a new company and forge partnerships.
Initiate the application process for family-based permanent residency.
Research potential U.S. cities for permanent residency.
Acquire a business entity.
Make strategic investments in your business.
Open a business bank account to manage future transactions effectively.
Steps to Establish a Business in the U.S.
Launching a business in the U.S. can be a straightforward process. Here’s a step-by-step guide:
Introduction: Familiarize yourself with the U.S. business landscape.
Choose a Business Structure: Decide on the best structure for your business.
Pick a Business Name: Choose a unique name that reflects your brand.
Apply for Business Licenses: Identify and apply for the necessary licenses.
Register with State Agencies: Ensure your business is compliant with local regulations.
Apply for an EIN (Employer Identification Number): This is essential for tax purposes.
Open a Business Bank Account: Keep your business finances separate from personal finances.
Understand Compliance Requirements: Stay informed about regulations affecting your business.
Comments