The USCIS has planned to relaunch the International Entrepreneur Parole Program. This program enables foreign entrepreneurs with an established business in the US, have received noteworthy US funding, and those who are able to demonstrate that their businesses have substantial potential for jobs and revenue to enter and live in the US for up to 5 years. However, this program is not a direct path to permanent residence.
What does the program entail?
This parole program does not provide immigration status to qualifying foreign nationals. Instead, the individuals will receive temporary permission to enter and remain in the US; they are only eligible for lawful permanent residence only if they qualify under another immigration program.
The approved parolees will be allowed to reside in the US for up to 30 months. However, they are allowed to work for only one organization (approved start-up company). Dependants are also allowed to remain in the US for the same time period, and their spouses are eligible for work authorization, according to www.murthy.com.
An entrepreneur can apply for an additional 30 months of parole if he/she can prove:
- The business is still in operation.
- The entrepreneur still plays a central role in business operations and maintains at least five percent ownership interest.
- The business has met one of the following conditions:
- Created at least five qualifying jobs.
- Received at least $500,000 in qualifying awards, government grants, or investments, or
- Earned at least $500,000 in revenue in the US and averaged 20 percent annual growth during the parole period.