On December 14th, 2017 The US Citizenship and Immigration Services (USCIS) announced that it will take steps to implement the International Entrepreneur Rule (IER) in compliance with a December 1 ruling from the US District Court for the District of Columbia.
The IER is an important opportunity for foreign nationals as well as for the US economy as it grants “PAROLE” to certain foreign national entrepreneurs and it opens a window for certain businesspersons to come to (or remain in) the U.S.
International Entrepreneur Program Eligibility
Under the current rule, qualified applicants may be granted parole in the United States on a discretionary basis if they can demonstrate that they:
- possess a substantial ownership interest (at least 10%) in a start-up entity created within the past five years in the United States that has substantial potential for rapid growth and job creation;
- have a central and active role in the start-up entity such that they are well-positioned to substantially assist with the growth and success of the business;
- will provide a significant public benefit to the United States based on their role as an entrepreneur of the start-up entity by showing that:
- the start-up entity has received a significant investment of capital from certain qualified US investors with established records of successful investments;
- the start-up entity has received significant awards or grants for economic development, research and development, or job creation (or other types of grants or awards typically given to start-up entities) from federal, state, or local government entities that regularly provide such awards or grants to start-up entities; or
- they partially meet either or both of the previous two requirements and provide additional reliable and compelling evidence of the start-up entity’s substantial potential for rapid growth and job creation.
- otherwise, merit a favorable exercise of discretion.
Guidance on how to submit IER applications is available on International Entrepreneur Parole page on USCIS website.
Contact us at (323) 456-7600 to schedule your free in-office consultation with our experienced immigration attorney.
Source: The National Law Review