- It’s available to entrepreneurs working in start-up companies formed within the last five years
- USCIS is creating a new I-941 application form and will charge a filing fee of $1200 and will begin taking applications on July 15th.
- The entrepreneur must own at least 10% of the start-up.
- The entrepreneur must have a “qualified investor” who invests at least $250,000 in the start-up OR get a grant or award of at least $100,000 from a government agency OR show he or she can partially meet one of the first two and can present other compelling evidence showing a substantial potential for rapid growth and job creation.
- A qualified investor must have invested a total of at least $600,000 in start-ups over the last five years and at least two of the start-ups created at least five qualified jobs OR generated at least $500,000 in revenue with average annualized revenue growth of 20% or more
- The entrepreneur must be playing a central and active role in the start-up.
- Spouses can get parole as well and a work authorization document
- Parole is granted for up to 30 months and can be extended for up to 30 more months.
- To get an extension, the start-up must have received at least $500,000 in qualifying investments government grants or awards since the initial grant of parole OR created at least five qualified jobs with the start-up during the initial period OR reached at least $500,000 in annual revenue in the US and averaged 20% annual revenue growth during the initial period
- Up to three entrepreneurs per start-up can qualify for Entrepreneur Parole
- To get an extension, an entrepreneur must show he or she has income of at least 400% of the federal poverty line for his or her household size.
- “Material” changes need to be reported to USCIS and be accompanied by a new Entrepreneur Parole application documenting continued eligibility.
Partner at Siskind Susser, PC - Immigration Lawyers
Greg Siskind is a partner with Siskind Susser, PC - Immigration Lawyers. After graduating from Vanderbilt University, he received his law degree at the University of Chicago. He created the first immigration law web site in 1994 and the first law blog in 1997. He's written four books and currently serves on the board of governors of the American Immigration Lawyers Association. He can be reached by email at email@example.com.