Parole for international Entrepreneurs Rule
This rule provides temporary parole status for a maximum of 5 years. While temporary, this rule is extremely beneficial for those who have started their own businesses or are thinking about starting their businesses but do not yet have the required advanced degree or its equivalent of 5 years of work experience to self-petition under the EB-2 NIW. This rule provides the 5 years of work experience necessary to set the applicant up for the EB-2 NIW self-petition.
The final rule for this parole was passed in January, to be effective in July of 2017. Our firm has already begun advising clients on the benefits of this rule, and for those that qualify, preparing their applications for the July 2017 submission.
Here are the eligibility requirements:
- Applicant must have started his/her business within 5 years prior to the application date,
- Applicant must own at least 10% of the company,
- Applicant must have obtained funding of $250K from private investors, or $100K from government grants, or be able to show potential for growth and job creation.
We provide advice on searching for grants and funding for your business. In the event that your business does not qualify for funding, we will draft and/or review your business plan to ensure that it has the right setup and information for future growth and job creation sufficient for USCIS to grant you parole under this rule.
Start-up Guidance and Maintenance
Our firm also advise applicants on the different business organization forms that your company can take and the implications of each – LLCs, S-Corps, and sole proprietors. We can also draft the company’s By-Laws, register your Articles of Organization and provide continued guidance as your company matures.