The US Department of Homeland Security (DHS) has unveiled a new rule called the International Entrepreneur Rule (IER) that intends to help startup founders worldwide. The latest regulations will allow noncitizen entrepreneurs to stay in the country if the venture provides a significant public benefit.

The period of authorized stay is technically called “parole.” Under this rule, entrepreneurs granted parole will be eligible to work only for their start-up business. The spouse and children of the noncitizen entrepreneur may also be eligible for parole.

As per the information on the United States Citizenship and Immigration Services (USCIS) website, up to three entrepreneurs per start-up can be eligible for parole under the new IER.

Eligibility Criteria

The eligibility criteria for the entrepreneurs is that they may be either living abroad or already in the United States. The Start-up entities must have been formed in the US within the past five years.

“Start-up entities must demonstrate substantial potential for rapid growth and job creation by showing at least $264,147 in qualified investments from qualifying investors, at least $105,659 in qualified government awards or grants, or alternative evidence.”

The entrepreneur may be granted an initial parole period of up to 2.5 years. If approved for re-parole, based on additional benchmarks in funding, job creation, or revenue described below, the entrepreneur may receive up to another 2.5 years, for a maximum of 5 years.

The eligible entrepreneur should have at least 10 percent ownership in the entity at the time of the initial application’s adjudication in the start-up business and have a central and active role in its operations.

For more details please visit: International Entrepreneur Rule | USCIS