As of January 17, 2017, the DHS published their final international entrepreneur rule with the hope of improving our nation’s economy by allowing certain foreign start-up founders to continue to grow their companies within the U.S. This rule allows the DHS to grant certain periods of authorized stay to foreign entrepreneurs.
It is decided on a case by case basis. These entrepreneurs must first demonstrate that their stay in the United States would promote public benefit, through both the creation of jobs and rapid business growth. Each business entity that is granted this may allow up to three entrepreneurs to remain in the U.S., as well as their spouses and/or children.
What are the criteria in order to be considered for this?
In order to apply for this rule, the applicant must show the following to be true:
- That they have a substantial ownership in a business entity that was started in the U.S. in the past five years. It must also have the potential for rapid growth and the creation of jobs.
- The applicant must be in a central position within the business to actively assist with the growth and success of the start-up entity.
- In order to prove that the applicant’s stay in the U.S. will prove to be a public benefit, based on their role within the business entity, they can show one of the following to be true:
- That their business has received significant capital investments from qualified U.S. investors, along with a recorded history of all prior investments;
- That their start-up has been given grants or any other type of award to be used for research and development, economic development, or job creation, as well as any other types of grants and awards often given to start-up companies, by a federal, state, or local government; or
- That they partially meet both of the previously mentioned requirements, along with providing other evidence and information regarding their potential for job creation and growth.
For more information on this ruling and to find out if it is a right fit your business, contact our Dallas immigration firm today at 844-299-5003 to discuss whether or not you may be eligible for this special rule.