+49 30 224 888 96president@agbc-berlin.deContact
About Us - AGBC Berlin
Membership Registration Form
Best Business Plan
Best Business Plan Mentors
Department of Homeland Security issues proposed rule to give parole status to entrepreneurs
Home / Department of Homeland Security issues proposed rule to give parole status to entrepreneurs
by Udo Freiherr vo...
Best Business Plan News
German-American Law
The United States has been making efforts in recent years to attract and retain highly skilled workers and entrepreneurs. The government has been doing this not by amending its immigration laws, but through presidential executive actions and agency rule making. One example is President Obama's executive action directing the US Citizenship and Immigration Services to make administrative improvements to the employment-based, second preference (EB-2) National Interest Waiver category that would enhance opportunities for foreign investors, researchers or start-up enterprises wishing to conduct research and create jobs in the United States. Another example is the revision of the US Department of Homeland Security's (DHS) regulations, governing the F-1 student programme, in which the DHS expanded the post-degree Optional Practical Training for F-1 students from 17 months to 24 months for those F-1 students who have earned US degrees in sciences, technology, engineering and mathematics.
Recently, the DHS proposed a new rule to retain and attract highly skilled workers and entrepreneurs to the United States: the International Entrepreneur Rule. This proposed rule is separate from the E-2 and EB-5 US investor visa programmes, and would provide another avenue for entrepreneurs who wish to live and work in the United States to pursue.
Under the proposed rule, the initial period of parole would be two years if:
the start-up entity:
was created within three years of the date of filing the parole application;
has been continuously doing business in the United States; and
has substantial potential for rapid growth;
the foreign national has at least a 15% ownership interest in the start-up entity and plays an active or central role in the business; and
the start-up entity has significant capital funding, as shown through:
investment by US investors of $345,000 (the US investor must have a history of successful investing, be a US citizen or organisation located in the United States or be majority owned by US citizens);
a government grant of $100,000 or more; or
alternative compelling evidence that shows the grant of parole would provide a significant public benefit that would validate the entity's substantial potential for rapid growth and job creation.
The parole would also be available to the applicant's spouse and children under 21 years of age. The spouse may apply for employment authorisation once paroled inside the United States. The principal applicant would not need a separate employment authorisation document, but only a passport and an I-94 record showing the foreign national was paroled into the United States.
Under this proposed rule, a foreign national may receive a three-year extension of parole status if:
the start-up entity continues to do business in the United States, and has a potential for rapid growth;
the foreign national has at least a 10% ownership interest in the business and continues to play an active or central role; and
the foreign national shows significant investment or the creation of jobs through the:
reinvestment of at least an additional $500,000 during the initial two year parole period by established US investors (government grants may be used to reach the $500,000 threshold); or
revenue generation of $500,000 during the initial two year parole period, with average annualised growth of 20% during the initial two year parole period; or
proof of the creation of 10 full-time jobs during the initial two year parole period; or
alternative evidence to show significant public benefit that would validate the start-up entity's substantial potential for rapid growth and job creation.
The proposed rule, in its current form, has several advantages, but a couple of drawbacks. From a positive perspective, the new rule requires an investment amount that is lower than the $1 million or $500,000 investment thresholds that exist in the EB-5 investor green card programme. In addition, participation in the parole for entrepreneurs programme is not limited to foreign nationals from certain countries, like the E-2 non-immigrant treaty investor programme. Unfortunately, at some point, a foreign national will need to apply for some other type of immigration benefit, before exhausting the five-year maximum parole period, since the parole benefit would not confer non-immigrant status by itself, or provide a path to US lawful permanent resident alien status. However, considering the maximum period of parole would be five years under the programme, it would give the foreign national time in the United States to try to pursue other immigration options, while growing their business.
http://www.internationallawoffice.com/?l=7SM6G50
U.S. Embassy Berlin: Fünf Dinge, die Sie über #COP21 wissen sollten - Five Things You Need To Know About #COP21
COLUMN John Kemp - Reuters News : Cheaper gasoline is knocking U.S. vehicle efficiency off course
COLUMN-Divided by shale revolution, only some U.S. states win: John Kemp
Pope Francis takes Washington
COLUMN John Kemp - Reuters News: Oil rally loses momentum
The American German Business Club Berlin is dedicated to maintaining and strengthening ties among American and German business and increasing business opportunities for its members.
Stay in touch with the AGBC-Berlin!
Traditional Goose Dinner https://t.co/xSxZVJf4N2 — 3 months 3 weeks ago
Berlinische Galerie --original bauhaus - Führung - 04. Nov 2019 https://t.co/wbw15vzSaw — 3 months 3 weeks ago
Invitation - Einladung: Education + Recruiting - Begin of a series - Oct 17, 19 - 6:30 pm https://t.co/Fo5CcknUNB — 3 months 3 weeks ago
AGBC-Berlin Get Together to Celebrate Independence Day, July 4th, 2018! https://t.co/rRNJ1LBaAk — 1 year 9 months ago
"Bauen in Berlin" - STRATEGIS Nöske meets FDP-Berlin Czaja https://t.co/gpYysIadc0 — 1 year 9 months ago
@AGBCBerlin
© AGBC-Berlin e.V.
Contact Us | Privacy Policy | Legal Notice