New DHS Rule for International Entrepreneurs

New DHS Rule for International Entrepreneurs

New DHS Rule for International Entrepreneurs

The Department of Homeland Security (DHS) published a final rule on January 17, 2017 which will allow start-up founders with growth potential to establish their companies within the United States so as to help stimulate entrepreneurship, innovation, and economic growth. The new rule allows DHS to use its discretionary “parole” authority to grant a period of authorized stay to foreign entrepreneurs who can provide evidence that their stay in the U.S. would lead to a significant public benefit, through the avenues of rapid business growth and job creation.

The requirement that the start-up demonstrate “potential” can be satisfied by showing the receipt of significant capital investment from U.S. investors with established records of successful investments, or obtaining significant awards or grants from certain Federal, State or local government entities. If granted this type of parole, DHS could provide an initial stay of up to 30 months to facilitate the applicant’s ability to supervise and grow his or her start-up company from within the U.S. This type of parole will only be applied on a case by case basis.

The new rule is effective starting from July 17, 2017. For more details on the DHS final rule for international entrepreneurs, please visit: https://www.federalregister.gov/documents/2017/01/17/2017-00481/international-entrepreneur-rule.