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NEW Entrepreneur Rule

NEW Entrepreneur Rule

On January 17, the DHS published a new final rule to encourage entrepreneurship to grow the U.S. economy by granting parole status to foreign-born investors and family members who establish start-up businesses in the U.S.

The rule will allow entrepreneurs to come to the U.S. under a parole provision in 30-months increments to oversee the implementation and growth of their start-up companies. To qualify the start-up must have been formed within the last five years and the investor must play a central and active role in the business. Each company may qualify up to three start-up entrepreneurs.

The rule further allows spouses and children to accompany the entrepreneur and spouses qualify for work authorization.

The entrepreneur must own at least 10% of the start-up and have invested at least $250,000.00 or received a government grant of at least $100,000.00. The key to a successful application is compelling evidence and significant public benefit to the U.S.

The rule will go into effect on July 17, 2017.

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