USA government to accept Applications under the International Entrepreneur Rule :
UPDATE 10TH MAY 2021:
- THIS RULE WAS SUSPENDED BY THE TRUMP ADMINISTRATION BUT REOPNE BY BIDAN ADMINISTRATION.
- See latest WSJ article – click here
ORIGINAL BLOG OF 2017:
On 14th December US Immigration department announced that US government will accept the application under the International Entrepreneur Rule –commonly known as Start Up Visa.
These rules were made during the President Obama Administration and date decided was July 17, 2017. However the rules could not take effect as Department of Homeland Security issued the final Rules only on July 11, 2017 and hence rules were delayed till March 14, 2018.
However, a court case was filed against the delay of the Rules and hence now the Government has been asked to accept the application with immediate effect.
Under this rules there is an unlimited number of the application can be accepted from international entrepreneur to enter the USA, use American investment and grow their Start Up business in USA.
This rules are discretionary and will be decided by Homeland security on a case by case basis for urgent humanitarian reasons or significant public benefit.
This Rules allow the Start Up founder to come on a temporary visa basis and does not convert to Citizenship of USA.
Under this final rule, founder of the start up will be eligible to work only for their start-up business. The spouses and children of the foreign entrepreneur may also be eligible for visa as well. The spouse can apply fort work permit once they are USA. Children are not entitle to work permit. These visa is used for a period of three years.
Eligibility
Entrepreneurs applying for parole under this rule must demonstrate that they:
- Possess a substantial ownership interest in a start-up entity created within the past five years in the United States that has substantial potential for rapid growth and job creation.
- Have a central and active role in the start-up entity such that they are well-positioned to substantially assist with the growth and success of the business.
- Will provide a significant public benefit to the United States based on their role as an entrepreneur of the start-up entity by showing that:
- The start-up entity has received a significant investment of capital ( US$ 250,00 and above) from certain qualified U.S. investors with established records of successful investments;
- The start-up entity has received significant awards or grants of (US$ 100,000 and above) for economic development, research and development, or job creation (or other types of grants or awards typically given to start-up entities) from federal, state, or local government entities that regularly provide such awards or grants to start-up entities; or
- They partially meet either or both of the previous two requirements and provide additional reliable and compelling evidence of the start-up entity’s substantial potential for rapid growth and job creation.
- THIS RULE WAS SUSPENDED BY THE TRUMP ADMINISTRATION BUT REOPNE BY BIDAN ADMINISTRATION.
- https://www.wsj.com/articles/foreign-entrepreneurs-to-gain-more-access-to-immigration-program-11620647100
