International Practice Section Blog: Proposed Rule May Temporarily Admit International Entrepreneurs :

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  • International Practice Section Blog
    September
    15
    2016

    Proposed Rule May Temporarily Admit International Entrepreneurs

    Atty. Jerome G. Grzeca

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    A proposed new rule by the U.S. Citizenship and Immigration Services allows international entrepreneurs to stay for up to two years in the U.S. to oversee and grow their startup businesses.

    On Aug. 26, U.S. Citizenship and Immigration Services (USCIS) proposed a new rule that would allow certain international entrepreneurs to be considered for parole (temporary permission to be in the United States) so that they may start or scale up their businesses here in the U.S.

     Jerome G Grzeca com jgg grzecalaw Jerome G. Grzeca , Marquette 1988, is the managing partner of Grzeca Law Group, S.C., Milwaukee, where he exclusively practices in the area of employment-based immigration law. He has practiced business immigration law for more than 25 years in Washington, D.C., and Milwaukee.

    Once the “International Entrepreneur Rule” is published in the Federal Register, the public will have 45 days from the date of publication to submit comments to USCIS. After considering those comments, USCIS will publish the final rule, along with its effective date, in the Federal Register.

    The proposed rule would allow the Department of Homeland Security (DHS) to use its existing legal authority to establish general criteria for the use of parole for entrepreneurs of startup entities whose entry into the U.S. would provide a significant public benefit through the substantial and demonstrated potential for rapid growth and job creation.

    Under the proposed rule, DHS would consider parole, on a case-by-case basis, for eligible entrepreneurs of startup enterprises:

    • who have at least a 15 percent ownership interest in the startup and have an active and central role in its operations;
    • whose startup was formed in the U.S. within the past three years; and
    • whose startup has substantial and demonstrated potential for rapid business growth and job creation, as demonstrated by:
      • receiving significant investment of at least $345,000 in capital from certain qualified U.S. investors with established records of successful investment;
      • receiving significant awards or grants of at least $100,000 from certain federal, state or local government entities; or
      • partially satisfying one or both of the above criteria in addition to other reliable and compelling evidence of the startup entity’s substantial potential for rapid growth and job creation.

    Under the proposed rule, entrepreneurs may be granted an initial stay of up to two years to oversee and grow their startup entity in the U.S. A request to extend that parole for up to three additional years would be considered only if the entrepreneur and the startup entity continue to provide a significant public benefit, as demonstrated by substantial increases in capital investment, revenue or job creation.





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