January 17, 2017. USCIS, an agency under Department of Homeland Security, had published the final rule [Document Citation: 5238-5289] to encourage entrepreneurs throughout the world to develop their innovative ideas and create jobs in the U.S. This Startup Visa / Parole rule is part of Executive Action President Obama had announced in November 2014.
This rule allows the Department of Homeland Security (DHS) to use its existing discretionary statutory parole authority for entrepreneurs of startup entities whose stay in the United States would provide a significant public benefit through the substantial and demonstrated potential for rapid business growth and job creation. Under this proposed rule, DHS may parole, on a case-by-case basis, eligible entrepreneurs of startup enterprises:
- Who have a significant ownership interest in the startup (at least 10 percent) at the time of adjudication of the initial grant of parole and have an active and central role to its operations and future growth of the entity, such that his or her knowledge, skills, or experience would substantially assist the entity in conducting and growing its business in the United States;
- Whose startup was formed in the United States within the past five years; and
- Whose startup has substantial and demonstrated potential for rapid business growth and job creation, as evidenced by:
- Receiving significant investment of capital (at least $250,000) from certain qualified U.S. investors with established records of successful investments;
- Receiving significant awards or grants (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 rule, entrepreneurs who meets the above criteria (and his or her spouse and minor, unmarried children ) generally may be considered under this rule for a discretionary grant of parole lasting up to 30 months (2.5 years) based on the significant public benefit that would be provided by the applicant’s (or family’s) parole into the United States. An applicant will be required to file a new application specifically tailored for entrepreneurs to demonstrate eligibility for parole based upon significant public benefit under this rule, along with applicable fees. Applicants will also be required to appear for collection of biometric information. No more than three entrepreneurs may receive parole with respect to any one qualifying start-up entity.
A subsequent request for re-parole (for up to 30 months, for a total maximum period of 5 years of parole) would be considered only if the entrepreneur and the startup entity continue to provide a significant public benefit as evidenced by substantial increases in capital investment, revenue or job creation.
This Final rule’s effective date was proposed to be effective from 07/17/2017 but the administration had delayed until a Federal court order of December 1, 2017 mandated government to implement the rule starting from the day the order was entered, December 1, 2017 (effective date of Startup Visa/Parole).
For learning more about this topic do contact our attorneys at (+1) 202 600-7745 or (+1) 888 820 4430 (toll free), or email us at firstname.lastname@example.org