August 20, 2021 – This year, the Department of Homeland Security (DHS) reinstated the International Entrepreneur Rule (IER) allowing a grant of temporary entry (or “parole”) to certain foreign national entrepreneurs of recently formed start-up businesses. The start-up business must be one that provides a “significant public benefit” to the United States.
To qualify as an entrepreneur under this rule, the foreign national must own at least 10% of a start-up business, maintain at least 5% ownership interest in the start-up, and play an active, integral role in the operations of the start-up. The start-up business must also have been founded within five years prior to application. Additionally, for the start-up to have contributed a “significant public benefit” to the United States, it must prove one of the following:
The start-up has received at least $100,000 in funding from a U.S. federal, state, or local entity. This funding cannot be for contractual commitments for goods and services.
The start-up has received at least $250,000 in funding from the past 18 months from one or more U.S. investors with “an established record of successful investments”, The “established record of successful investments” means that the investors have invested no less than $600,000 in start-ups and that two of these starts ups have created at least five U.S. jobs or generated $500,000 in annual revenue with a 20% growth rate.
If the start-up can only partially secure the funding from either (1) or (2), they can still be granted parole based on other “compelling evidence” of substantial potential for rapid growth and job creation.
ALG Lawyers helps foreign nationals sort through the complicated legal requirements surrounding the IER rule and prove credibility to gain entry to the U.S. and grow their start-up businesses even more. So while the IER is not a pathway to a Green Card, it does bring back a special opportunity for certain foreign nationals to gain entry into the U.S. Foreign entrepreneurs of start-up businesses who wanted to do just that and grow their businesses have turned to ALG Lawyers for help.
About ALG Lawyers
Based in Los Angeles, ALG Lawyers’ team of seasoned and highly experienced immigration lawyers is dedicated to solving the most difficult cases in any part of the world. Learn more or contact online.