Entrepreneurs

Our immigration law has clearly been lacking a “visa” for entrepreneurs, especially when they are not from countries with which we have an “E” treaty and/or when the percentage ownership of a ‘start-up’ does not meet the 50% nationality test.

The USCIS has recently issued a proposed rule that would allow foreign national start-up founders to receive temporary permission to be in the U.S. (parole), initially for two years, if they have at least a 15% ownership interest, will have an “active and actual role” in the start-up, and can demonstrate potential for fast growth and creating jobs.

An extension for 3 years has also been proposed if the start-up maintains a “sufficient public benefit” by showing an increase in investment, money, or jobs.

 

 

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