USCIS Proposes Rule to Assist Foreign Entrepreneurs

USCIS has announced a proposed rule to allow foreign entrepreneurs to be granted temporary permission into the USA to start or develop business in the USA. The rule is not final yet, so the final requirements may be different from the elements described below.

Essentially, the proposed rule would allow the Department of Homeland Security (DHS) to use its existing discretionary statutory parole authority for entrepreneurs of startup entities whose stay in the United States would provide a significant public benefit through the substantial and demonstrated potential for rapid business growth and job creation.

Under this proposed rule, DHS may parole, on a case-by-case basis, eligible entrepreneurs of startup enterprises:

  • Who have a significant ownership interest in the startup (at least 15 percent) and have an active and central role to its operations;

  • Whose startup was formed in the United States within the past three years; and

  • Whose startup has substantial and demonstrated potential for rapid business growth and job creation, as evidenced by:

  • Receiving significant investment of capital (at least $345,000) from certain qualified U.S. investors with established records of successful investments;

  • Receiving significant awards or grants (at least $100,000) from certain federal, state or local government entities; or

  • Partially satisfying one or both of the above criteria in addition to other reliable and compelling evidence of the startup entity’s substantial potential for rapid growth and job creation.

Under the proposed rule, entrepreneurs may be granted an initial stay of up to two years to oversee and grow their startup entity in the United States. A subsequent request for re-parole (for up to three additional years) would be considered only if the entrepreneur and the startup entity continue to provide a significant public benefit as evidenced by substantial increases in capital investment, revenue or job creation.

As the details get ironed out, stay tuned for updates or call our office for a consultation.

#businessvisa #L1visa #H1B #entrepreneur #investorvisa #EB5 #USCIS #B1visa

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​​​​© 2019 by Immigration Attorney Theodore Huang Practice strictly limited to federal immigration law matters.  Attorney Huang is authorized by federal law to represent persons before the Board of Immigration Appeals, EOIR, AAO, and the USCIS. Serving Walnut, San Marino, Arcadia, South Pasadena, Brea, Irvine, Rancho Palos Verdes, Diamond Bar, Hacienda Heights, Rowland Heights, Los Angeles, Cerritos, Boston, New York, Riverside, Temecula, Victorville, Seattle, Las Vegas, Rancho Cucamonga, Ontario, Upland, Claremont and Palm Springs. Licensed in Maryland, not a CA attorney. Bookmark this site: www.VisaSoup.com

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