The Biden administration plans to revive an (Obama administration) immigration program that lets foreign entrepreneurs work in the U.S. for up to five years, as long as their startups attract at least $250,000 in US venture capital, hire 10 employees or meet other benchmarks. It is important to note that this is not a visa-based, rather it relies on the authority of parole.

The U.S. Citizenship and Immigration Services (USCIS) has announced that the International Entrepreneur Rule (IER) will not be removed from DHS regulations. In its announcement on May 10, 2021, The USCIS Director stated that DHS may use its parole authority to grant a period of authorized stay, on a case-by-case basis, to foreign entrepreneurs who demonstrate that their stay in the United States would provide a significant public benefit through their business venture and that they merit a favorable exercise of discretion. 

Under this final rule, which is currently in effect, parole may be granted to up to three entrepreneurs per start-up entity, as well as their spouses and children. Entrepreneurs granted parole are eligible to work only for their start-up business. Their spouses may apply for employment authorization in the United States, but their children are not eligible for such authorization based on this parole.   Citizens of almost any country can apply for this status.

Please contact our office to schedule a consultation. You can also find additional information about the IE eligibility and how to apply here .