In a significant development, the Department of Homeland Security (DHS) has withdrawn a proposed rule published in 2018 that proposed to remove the International Entrepreneur (IE) parole program from its regulations. The IE program, which was first introduced in 2017, offers foreign entrepreneurs creating and developing a start-up entity with high growth potential in the United States, an additional path to be able to come and grow their start-up entity in the U.S.
The IE program allows DHS to use its parole authority to grant a period of authorized stay to qualifying foreign entrepreneurs who demonstrate that their stay in the U.S. would provide a significant public benefit through their business venture. In order to apply for parole under the IE program, the foreign national entrepreneur must demonstrate that he or she:
- possess a substantial ownership interest in a start-up entity created within the past five years in the U.S. that has substantial potential for rapid growth and job creation
- has a central and active role in the start-up entity
- will provide a significant public benefit to the United States based on his or her role as an entrepreneur of the start-up entity
Under the program, parole may be granted to up to three entrepreneurs per start-up entity. Foreign entrepreneurs granted parole under the program will be eligible to work only for the start-up entity. The program allows for parole to be also granted to the spouses and children of qualifying entrepreneurs. Further, a spouse of a qualifying entrepreneur may also apply for and secure an Employment Authorization Document to be able to work in the U.S.
If you have any questions regarding the International Entrepreneur parole program, or need help securing an investor visa or investor Green Card, contact VisaPro Law Firm today. Our experienced immigration attorneys will be happy to assist you.