“America’s economy has long benefited from the contributions of immigrant entrepreneurs from Main street to Silicon Valley”, such are the views of the officials of the USCIS. We briefly discuss the proposed parole for the Entrepreneurs below.
What does the proposed Rule allow: The proposed rule will allow Department of Homeland Security to implement its discretionary parole authority to increase and enhance entrepreneurship, job creation and benefit US economy through increased business activity and dynamism.
How much investment is needed: The applicant seeking parole would be qualified if he/she has at least 15% ownership interest in the entity, has a significant capital financing for $345,000 or more from US investor or monetary awards and/or grants from certain Federal, State or local authorities totaling $100,000 or more.
Results: The applicant who meets the above criteria, after case-by-case evaluation, will be considered for discretionary parole for up to 2 years into the US, along with his/her family members. The entrepreneur’s spouse will be allowed work authorization consistent with 8 CFR 274a. 12 ( c ) ( 34 ). A re-parole will be considered for up to 3 years, for a total maximum of 5 years if they can show that their entities have reached at least $500,000 in an annual revenue, with average growth of at least 20% and created about 10 full time jobs for US workers.
Hence, we see here efforts on part of DHS to pursue business opportunities in the US rather than abroad.