New Rule Proposal May Help Foreign Entrepreneurs
The Department of Homeland Security (DHS) and the U.S. Citizenship and Immigration Services (USCIS) recently announced the proposal of a new rule that may allow many foreign entrepreneurs the opportunity to grow their businesses in the United States. Aptly called the “International Entrepreneur Rule,” the proposal focuses on the discretionary powers of DHS and USCIS to grant temporary permission to certain individuals to remain in the U.S. for certain purposes. This temporary permission is referred to as “parole.”
Under the proposed rule, the immigration agencies would review whether to grant parole to specific foreign entrepreneurs based on the following criteria, as well as other relevant considerations:
- Individuals who own at least 15 percent or more of a start-up and play an active and important role in the operations of the business;
- The business was started in the previous three years in the U.S.;
- The business shows the potential for significant growth and the creation of jobs in the U.S. based on receiving significant investments, grants, awards, or other factors that indicate future success.
If agents find that the above criteria are met, they would have the discretion to grant parole for the entrepreneur to stay in the country legally to continue developing and growing their new business for a period of two years. If in that two-year period, the foreign entrepreneur demonstrates that the business provides a benefit to the public due to jobs, revenue, or investments, the entrepreneur may apply for up to three more years of parole.
If this proposal becomes a final rule, it can help many foreign business people in the United States who want to start businesses do so without having to deal with specific visa requirements. In some cases, however, a visa may be a better option than applying for parole and an experienced immigration lawyer can help you weigh your options should this rule go into effect.
Call 201-703-9400 today for more information about our services today
At the office of Ronald P. Mondello, Esq. Attorney at Law, we are committed to helping foreign nationals succeed in business, education, and familial relationships in the United States. No matter what your immigration situation may be, we will review your case and advise on how we can help you. There are many options for you to remain lawfully in the United States, so please contact our office to discuss your situation today.
