US has increased the minimum amount of investment and revenue thresholds under the International Entrepreneur Rule. For foreign entrepreneurs who wish to do business in the United States, the International Entrepreneur Rule is the scheme to choose.
If you want to come to America without investing any money, all you need is a mandate from US-based investors to land in the Land of Opportunity. The International Entrepreneur Rule allows entrepreneurs to immigrate to the United States without investing, but they must confirm that other qualified US investors have invested in their startup.
US has revised the minimum investment, revenue, and other thresholds requirements of the International Entrepreneur Rule. The revised investment and revenue amounts are effective October 1, 2024, and apply to requests filed on or after October 1, 2024.
International entrepreneur parole regulations allow DHS to grant authorized stay to noncitizen entrepreneurs with substantial ownership interest in start-ups, demonstrating significant public benefit through rapid business growth and job creation.
A candidate doesn’t need to be outside of the US to apply. Applications are welcome from those who are not currently in the country, from people who are in the country but do not currently hold nonimmigrant status, and from people who are outside the country.
International Entrepreneur Rule: New Rules October 1, 2024
For an initial application, entrepreneurs must demonstrate the startup entity’s substantial potential for rapid growth and job creation by showing at least $311,071 (earlier $264,147) in qualified investments from qualifying investors, at least $124,429 (earlier $105,659) in qualified government awards or grants, or, if only partially meeting the threshold investment or award criteria, alternative reliable and compelling evidence of the start-up entity’s substantial potential for rapid growth and job creation.
Essentially, if relying on an investment from a qualifying investor, the amount is increasing from $264,147 to $311,071. If relying on a government award or grant, the amount is increasing from $105,659 to $124,429. The revenue amount for consideration of re-parole is increasing from $528,293 to $622,142.
An individual or organization may be a qualified investor if they made investments in start-up entities comprising a total of no less than $746,571 (rather than $633,952) in a specified 5-year period and, after those investments, at least two of those entities have each created at least five jobs or generated at least $622,142 (rather than $528,293) in revenue with annualized revenue growth of at least 20%.
The entrepreneur may be granted an initial parole period of up to 2 years and six months. If approved for re-parole, based on additional benchmarks in funding, job creation, or revenue described below, the entrepreneur may receive up to another 2 years six months, for a maximum of 5 years. If granted parole, the entrepreneur would be authorized to work for their startup entity incident to their parole, and their spouse, if also granted parole, would be eligible to apply for employment authorization to work in the United States.
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Publish date : 2024-10-10 19:57:00
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