On August 26, 2016, USCIS announced that it would be proposing a draft rule which would implement the Secretary of Homeland's discretionary parole authority to increase and enhance entrepreneurship, innovation, and job creation in the United States. The use of parole would be on a case-by-case basis with respect to entrepreneurs of start-up entities whose entrance into the US would provide significant public benefit through the substantial and demonstrated potential for rapid business growth and job creation. It was announced that the potential would be indicated (amongst other things) by:
- the receipt of significant capital investment from US investors with established records of successful investments, or
- obtaining significant awards or grants from certain Federal, State or local government entities.
Parole would be initially granted for a stay of 2 years and may be extended by up to 3 years. This would be to facilitate the applicant's ability to oversee and grow his or her start-up. To be granted parole again, it is announced that the entrepreneur would show his or her start-up continues to provide a significant public benefit as evidenced by:
- substantial increases in capital investment,
- revenue, or
- job creation.
The drafted rule should be available in the Federal Register this week and will be open for comments for 45 days.
Until new pathways for entrepreneurs are available, what are your options?
For our entrepreneurial clients, we typically look at E-2 treaty investor visas, L-1 intracompany transfer visas, and EB-5 investor green cards. For more information on these, please email email@example.com or call +44 (0)1296 709 926 to speak with one of our qualified US Immigration Lawyers.