Immigrant “Start-Up” Founders to Receive Temporary Parole
The U.S. Citizenship and Immigration Services has proposed a new rule that would allow immigrants who have start-up companies to remain in the United States. The new entrepreneur rule is part of President Barack Obama’s 2014 immigration executive actions. Under the new rule, the U.S Department of Homeland Security would be able to parole entrepreneurs who have at least a least 15 percent ownership stake in a startup, and have an “active and central role” in it, according to the agency. The startup would also need to have been established in the U.S. in the last three years, and the startup should have demonstrated potential for fast growth and creating jobs, USCIS said.
According to USCIS, entrepreneurs could receive an initial stay period of two years. Requests for “re-parole,” which could be for another three years, would be only taken into consideration if the startup kept providing a “significant public benefit,” as shown by an increase in investment, money or jobs.
This rule has been a long time coming, as the U.S. has had no previous visa options for immigrant start-up founders.
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