On August 31, 2016, the Department of Homeland Security (DHS) proposed a rule for International Entrepreneurs embracing investment in the United States by foreign investors. This rule would give DHS authority to grant discretionary parole to “entrepreneurs of start-up entities whose entry into the United States would provide a significant public benefit through the substantial and demonstrated potential for rapid business growth and job creation.”
While this proposed rule would not grant any immigration benefit, it does provide foreign investors and entrepreneurs authorized permission to stay in the U.S. to establish and grow a business for a period of two years (extendable up to five years). The typical candidate for this proposed rule is an entrepreneur of a start- up entity who has a qualified investment of at least $345,000 from one or more qualified investors or at least $100,000 through one or more qualified government awards or grants.
The proposed rule is currently undergoing a 45-day public comment period in the Federal Register.
Foley Law Offices will closely monitor this proposed rule and will keep you updated on any developments. If you have specific questions, please call Attorney Nicole Fink.