New Business Immigration Opportunity | International Entrepreneur Parole
We are pleased to share an exciting new pathway for foreign national entrepreneurs to live and work lawfully in the United States while growing a new business. This week, the government announced the availability of a program known as International Entrepreneur Parole, which gives the Department of Homeland Security the authority to grant a period of authorized stay or “parole” to foreign entrepreneurs who can prove that their business venture in the U.S. (created within the last five years) would significantly benefit the public.
Eligibility for International Entrepreneur Parole
The public benefit of the start-up is proven by showing that the business has 1) received $250,000 from reputable investors, 2) received $100,000 in awards or grants from government entities, or 3) received a partial combination of the first two requirements plus evidence of rapid growth or job creation. Entrepreneurs granted parole will be eligible to work only for their start-up business, and their spouses and children may also be eligible for parole. Further, spouses may apply for work authorization once they are granted parole status.
A qualified investor is a United States Citizen or Lawful Permanent Resident or an organization that is majority-owned and run by a United States Citizen or Lawful Permanent Resident who during the last five years has invested at least $600K in other start-ups. Further, qualified investors must have invested in at least two entities that each created at least five qualified jobs or generated at least $500K in revenue with an average annualized growth of at least 20%.
Under this program, a period of authorized stay may be granted for up to three entrepreneurs per start-up entity, for a period of up to 30 months. Additionally, the entrepreneur may apply for a 30-month extension of stay if he or she maintains an ownership interest in the business and it continues to operate and grow.
This program is a great opportunity for those foreign nationals who do not qualify for other entrepreneurial temporary visas, including the E-2 and L-1 “new office” visas. Many countries are not a part of the E-2 treaty, and the L-1 visa requirements can be cumbersome. If you think you may be eligible for this alternative, contact our office for a consultation to assess your case.
About Davis & Associates:
Davis & Associates is the immigration law firm of choice in Houston & North Texas including Dallas, Fort Worth, Plano, Frisco, McKinney and surrounding areas. Their attorneys provide expert legal counsel for all aspects of immigration law, including deportation defense, writs of habeas corpus and mandamus, family-sponsored immigration, employment-sponsored immigration, investment immigration, employer compliance, temporary visas for work and college, permanent residence, naturalization, consular visa processing, waivers, and appeals. Attorney Garry L. Davis is Board Certified in Immigration and Nationality Law by the Texas Board of Legal Specialization.
Dallas Contact Info:
Address: 17750 Preston Road Dallas, TX 75252
Houston Contact Info: Address: 6220 Westpark Dr, Suite 110, Houston, TX 77057
Phone: (832) 742-0066