On January 17, 2017, the Department of Homeland Security (DHS) published a rule, effective on July 17, 2017, that allows certain international entrepreneurs to be considered for temporary parole for a maximum stay of up to five (5) tears. The rule will allow entrepreneurs of start-up entities, whose entry into the U.S. would provide a significant public benefit through substantial and demonstrated potential for rapid business growth and job creation, to be granted temporary parole.
To be considered for parole under this rule, an applicant must generally show: (1) significant capital financing from U.S. investors with established records of successful investments; or (2) significant awards or grants from certain Federal, State or local government entities.
The individual must have a significant ownership interest in a startup (at least 10 percent) that was formed in the U.S. within the past five (5) years and have an active and central role to its operations. Substantial and demonstrated potential for rapid business growth and job creation may be evidenced by, among other considerations, an investment of capital of at least $250,000.00 from U.S. investors and receipt of awards or grants of at least $100,000.00 from U.S. government entities for economic, research and development, or job creation purposes.
If granted parole, the individual would be given an initial period up to thirty (30) months to oversee and develop their start-up entity in the U.S. There is also a possibility for an extension for a total maximum of five (5) years.
The parole rule creates neither a new status nor a new immigration category; rather, it allows DHS to use its existing discretionary authority to grant parole to certain qualified entrepreneurs. The parole would also cover spouses and children of the international entrepreneur, and spouses would be eligible for work authorization. There is no set cap on the number of these parole positions that may be granted.
The proposed rule can potentially bring more job growth and money into the U.S. market and would permit immigrants with entrepreneurial ideas to build upon them here in the U.S. rather than taking them to other countries.
Please contact our office at 856-222-0130 to explore immigration options.