The Latest Update on the International Entrepreneur Rule
For those foreign entrepreneurs seeking build a U.S business while living temporarily in the United States, you are now entitled to apply for entry to the U.S. under the International Entrepreneur Rule (IER). On December 14, 2017, the United States Citizenship Immigration Service (USCIS) announced its intention to accept applications from eligible entrepreneurs.
Created by the Obama administration, the IER allows the Department of Homeland Security (DHS) to use its “parole” authority to grant temporary entry to international entrepreneurs who can demonstrate that their business would provide a significant public benefit and help boost the American economy through increased capital spending, innovation and job creation. The DHS could extend eligibility to up to three entrepreneurs per startup, as well as spouses and children.
The rule originally had an effective date of July 17, 2017. A week before the rule was to take effect, however, President Trump delayed its implementation, with the intention of rescinding it. However, a group of venture capitalists and entrepreneurs sued in federal court, arguing that the delay was unlawful under the Administrative Procedure Act.
A District of Columbia federal judge agreed.
On December 1, 2017, Judge James Boasberg overturned the delay, ruling that the USCIS must promptly implement the rule. Shortly afterward, the USCIS published forms and instructions for entrepreneurs seeking to apply for parole and began accepting applications. However, the USCIS warns that the DHS is in the final stages of drafting regulations that would rescind the rule.
According to attorney Doug Zanes, as the IER stands now, a foreign entrepreneur who meets the following requirements may be eligible for a grant:
You must possess a “substantial” ownership interest in a startup created in the U.S. within the past five years, and the startup must have substantial potential for rapid growth and job creation.
You must have a central and active role in the startup entity and be well-positioned to foster the growth and success of the business.
You must prove that your stay will provide a significant public benefit to the United States, based on your role within the startup.
The experienced immigration attorneys at Zanes Law would be delighted to help you with any immigration matters or applications. Please contact us or call us at (866) 499-8989 for a private consultation today.