International Entrepreneur Program: Visas For Foreign Startups

Are you an investor or entrepreneur looking to move to the U.S. to start a business? Have you been waiting for the U.S. government to make the visa process available for your situation? If so, our experienced New Orleans immigration attorney can provide more information about the International Entrepreneur Program.

What Is the International Entrepreneur Program?

According to Forbes, approximately 3.2 million foreign-born entrepreneurs own and operate businesses in the U.S., representing almost a quarter of all businesses in the country, while only accounting for about 14 percent of the population. These companies provide jobs for around 8 million people, and hold a disproportionate number of patents for new technologies. Among the most notable foreign-born entrepreneurs in the U.S. are the founders of Google, Tesla, and Yahoo.

The International Entrepreneur Program is an initiative that was created during the Obama Administration within federal laws to provide entrepreneurs and investors with a way of staying for up to five years in the country while they start a business or establish a business presence here. While the program was halted during the Trump Administration, it was announced in May 2021 that it would begin accepting applications for entrepreneurs that meet the program’s eligibility criteria. Technically, this authorization is not a new type of visa, but rather a “parole” program that grants access to those who will benefit the country with their presence.

The Requirements for Parole

In order to be granted parole through the International Entrepreneur Program, applicants must meet the following eligibility criteria:

  • They must have a central or active role in a U.S.-based start-up that was created within the last five years.
  • They must hold at least a 10 percent ownership stake in a U.S. start-up.
  • They must be able to demonstrate that, in the past 18 months, the start-up received either a minimum investment of at least $250,000 from one or more qualified U.S. investors, or government awards and grants of at least $150,000. It should be noted that a qualified U.S. investor, for purposes of obtaining parole in the program, is someone who has — in the past five years — made investments of at least $600,000 to start-ups that have created at least 5 jobs or generate at least $500,000 in annual revenue or feature a growth rate of at least 20 percent.

In some cases, if the entrepreneur is able to show that they partially meet the investment or grant requirements, authorization will be permitted with the presence of evidence that shows the start-up’s potential to grow rapidly and create jobs.

Initial parole is granted for a period of 30 months (2.5 years). The parolee is permitted to seek a “re-parole” after that time that will allow them to remain in the country for another 30 months, bringing the maximum stay through the program to 5 years. In order to have the stay extended for another 30 months, the parolee must prove:

  • They have maintained central control of the start-up.
  • They carry at least a 5 percent ownership stake in the start-up.
  • During the initial parole period, they either received at least $500,000 in qualifying investments or government grants or awards; created at least 5 jobs; or they attained at least $500,000 in annual U.S. revenue and saw growth of their start-up of at least 20 percent.

Applying for the Program

In order to obtain authorization to enter the U.S. in order to start a business, the applicant must complete the required forms with supporting documentation and submit it to the U.S. Citizenship and Immigration Services (USCIS), along with the required application fee and the charge for biometrics. If the application is approved, the applicant will be directed to the nearest U,S. consulate to obtain necessary travel documentation.

Other Provisions

The spouses of entrepreneurs wishing to access the U.S. through this program can seek U.S. employment authorization to enter the country along with their spouse, seeking to work either at their spouse’s start-up or for another U.S.-based business. However, additional family members, including adult children, are not granted entry into the U.S. by way of employment through the International Entrepreneur Program. Children who are under the age of 21 are permitted to accompany their parents to the U.S. Up to three entrepreneurs can be paroled per start-up entity.

While visa programs have quotas that determine how many people can enter the country under that type of visa each year, the International Entrepreneur Program does not have quotas, meaning you will not be barred from entry simply because too many people have applied before you.

Individuals wishing to enter the country through the International Entrepreneur Program are not required to prove any minimum level of wages. 

The program is not a path to permanent residence in the U.S. through a green card.

How an Immigration Attorney Can Help You

If you’re a foreign-born entrepreneur wishing to start a business in Louisiana and would like to participate in the International Entrepreneur Program, an experienced immigration attorney from Stephenson, Chavarri & Dawson, L.L.C. can provide a number of services to assist you, including:

  • Guidance as to your eligibility for this program, as well as other programs that might better suit your needs.
  • Reviewing your application to ensure that you have provided the required documentation.
  • Assistance with applying for re-parole that will allow you to remain in the country after your initial 2.5 year parole has expired.
  • Assistance with resources and services that can assist you after you have arrived in the country.
  • Assistance with resolving disputes with the USCIS about any matter pertaining to your immigration through the International Entrepreneur Program.

We invite you to participate in a consultation, which will allow you time with one of our attorneys to obtain answers to the questions you have about the program or other immigration matters, as well as to learn more about the services we can provide to assist you. For your consultation, contact us online or by calling 504-523-6496.

 

Call Now: 504-523-6496