The United States Department of Homeland Security (DHS) has launched the International Entrepreneur Rule (IER) to attract foreign business founders. This rule allows noncitizen entrepreneurs to remain in the U.S. if their startups contribute significantly to the public good.
International Entrepreneur Rule Overview: Key Points
Eligibility: This rule applies to entrepreneurs living abroad or already in the U.S.
Start-Up Requirements: The startup must have been established in the U.S. within the past five years and must show substantial potential for rapid growth and job creation.
Funding Criteria: Startups must demonstrate at least $264,147 in investments from U.S. investors, $105,659 in government grants, or provide alternative evidence of growth potential.
Parole Duration: Entrepreneurs can be granted an initial parole period of up to 2.5 years, extendable for another 2.5 years based on further achievements, totaling a maximum of five years.
Employment Authorization: Entrepreneurs are allowed to work solely for their startup, while their spouses can apply for employment authorization. However, children are not eligible for work authorization.
Application Process: Entrepreneurs must submit Form I-941, Application for Entrepreneur Parole, along with a $1,200 fee and supporting documents. Those outside the U.S. must visit a U.S. embassy or consulate for parole processing, while those within the U.S. will receive travel documentation by mail or at a U.S. embassy or consulate.
Approved applicants can work for their startup without needing additional forms and will receive travel documentation instructions based on their chosen location.
Ownership and Role Requirements: Entrepreneurs must own at least 10% of the startup at the time of the initial application and have a central and active role in the startup’s operations.
Start-Up Funding Requirements:
- Qualified Investment: At least $264,147 from U.S. investors.
- Government Grants: At least $105,659 in U.S. government awards.
- Alternative Evidence: Additional reliable evidence if funding levels are partially met.
Qualified investors do not include the entrepreneur, their relatives, or organizations with direct or indirect ownership by the entrepreneur or their relatives.
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