On January 17, 2017, a final rule was published allowing the Department of Homeland Security (DHS) to parole foreign entrepreneurs into the United States who can show that their stay would “provide a significant public benefit because he or she is the entrepreneur of a new start-up entity in the United States that has significant potential for rapid growth and job creation.” (82 FR 5238). The broad authority for paroling foreign nationals into the United States, which is the foundation of this rule, is at section 212(d)(5) of the Immigration and Nationality Act.
Quoting from the Executive Summary of 82 FR 5238, the basic requirements are as follows:
- “Formation of New Start-Up Entity” (“created within the 5 years immediately preceding the date of the filing of the initial parole application”)
- “Applicant is an Entrepreneur” (meaning having 10% ownership or more and having “an active and central role in the operations and future growth of the entity”)
- “Significant U.S. Capital Investment or Government Funding”
Parole can be granted for up to 30 months with the possibility of a 30-month extension.
The final rule will become effective on July 17, 2017 and can be found here: https://www.federalregister.gov/documents/2017/01/17/2017-00481/international-entrepreneur-rule
For more information: Craig Dobson