Relief for International Entrepreneurs? A New Proposed Rule

A new rule recently proposed by the Department of Homeland Security would allow temporary admission of certain international entrepreneurs “whose stay in the United States would provide a significant public benefit through the substantial and demonstrated potential for rapid business growth and job creation.”  The rule would provide a significant opportunity for those entrepreneurs who do not qualify for trader or investor visas.  The rule, currently in the comment period, would grant qualified entrepreneurs an initial stay of up to two years to grow their startup in the U.S., with possible three-year extensions.  Eligibility criteria for entrepreneurs include: significant ownership interest in the startup (at least 15%); formation of the startup in the U.S. within the past three years; and substantial potential for rapid business growth, as evidenced by receipt of significant investment of capital (at least $345,000) or significant awards or grants (at least $100,000) from certain government entities.  For additional details on the eligibility criteria, please visit www.uscis.gov.  We are hopeful this rule will be implemented and encourage international entrepreneurs to continue making key economic contributions to our nation’s economy.

Submit a Comment

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>