NEW Regulations coming soon: Parole for Foreign Entrepreneurs
Posted on November 25, 2015
Major Update: New Regulations are in the works that, if adopted, would permitting the use of parole for “entrepreneurs of start-up entities whose entry into the United States would provide a significant public benefit through the substantial and demonstrated potential for rapid business growth and job creation.” The proposed rule is a product of President Obama’s November 2014 executive actions on immigration.
This program is currently in the law-making process and not yet in effect. If adopted, it will permit DHS to grant parole status, on a case-by-case basis, to inventors, researchers, and founders of start-up enterprises who may not yet qualify for a national interest waiver, but who have been awarded substantial U.S. investor financing or otherwise hold the promise of innovation and job creation through the development of new technologies or the pursuit of cutting-edge research. DHS estimates that as many as 2,940 entrepreneurs could be eligible for parole under this program on an annual basis.
Once implemented, this would allow entrepreneurs and inventors to come into the United States without the need for a visa or other sponsorship, and will be a tremendous benefit for the country.
Currently, there is no special visa for start-up entrepreneurs and this potential new legal avenue will be a significant improvement.