In 2021, the Department of Homeland Security (DHS) put the International Entrepreneur Rule (IER) back into action, allowing business owners to apply for a temporary travel visa if their business is determined to provide “significant public benefit.” The business may be a start-up.
The International Entrepreneur Rule (IER) grants the entrepreneur a VISA for 30 months (2.5 years) and once the VISA expires, they may apply for another 30 months (re-parole of 2.5 years) using the same start-up.
Requirements: The immigrant must own at least 10% of the business; the business business launched five years ago; the applying immigrant plays an active role in operating the business.
Additionally, one of the criteria below must be met:
a) Capital Investment: In the past 18 months, the start-up must have received $250,000+ from American investors.
In the past five years, the investor must have invested at least $600,000 AND in two start-ups the investor invested in had five full-time jobs created or $500,000 in annual revenue at a 20% growth rate.
b) Government Funding: The startup received $100,000 in government funding (R&D grants, economic development awards, etc.). Funding excludes money for government contracts.
c) If the entrepreneur does not meet the Capital Investment or Government Investment threshold, may alternatively show their success record and substantial potential for rapid growth and job creation. Success may include developing new technologies, being accepted to a business-development acceleration program or publishing cutting-edge research findings.
FAQ (Frequently Asked Questions):
What about my family members?
The spouse and minor unmarried children may apply for a VISA through form I-131. Spouses may request work authorization.
How many entrepreneurs may a start-up have?
What income must I maintain?
The household must be 400% over the poverty line. For a family of one, that is $51,520.