Watch Sophie’s video to learn all about the newly final International Entrepreneur Rule, a wonderful parting gift to Silicon Valley from President Obama’s administration. Now startup founders are eligible for International Entrepreneur Parole, a U.S. immigration status. Here are the top five things startup founders should know:
This rule provides an immigration status for startup founders to live and work on their new companies in the United States. This video covers the top five things that you need to know about International Entrepreneur Parole:
- The startup must have been legally formed in the last five years before the application.
- The startup founder must own at least 10% of the company and have an active and Central role in running it in order to qualify.
- The company must have received $250,000 from established US investors or $100,000 in government grants or additional and reliable compelling evidence that the founder would provide a significant public benefit to the US.
- The founder spouse and minor unmarried children can come on parole as well and once everybody arrives the spouse can apply for a work permit (employment authorization document) from USCIS.
- International Entrepreneur Rule parole status lasts up to 30 months initially and can be renewed for a 30-month extension.
International Entrepreneur Parole is fantastic news for founders both abroad and those already visiting the United States in tech hubs such as Silicon Valley, Silicon Beach, Austin, and Boston, and many more. It is also much easier for founders to get green cards in the EB-2 category with a National Interest Waiver. Matter of Dhanasar, a new case from the USCIS Administrative Appeals Office that redefines the standard for EB-2 NIW (National Interest Waivers), making it easier for entrepreneurs to get green cards.
The next question is: will this be one of the regulatory actions that President Trump will try to roll back during the beginning of his administration?