On Friday, August 26, 2016 the USCIS released a proposed rule
which would allow certain entrepreneurs to enter the United States for a
temporary period of time to start a business in the US.
The proposed rule would allow entrepreneurs of startup
entities to enter the US, if the startup will provide a significant public
benefit through the substantial and demonstrated potential for rapid business
growth and job creation. Under the
proposed rule, the USCIS will decide on a case-by-case basis if the
entrepreneur is eligible to enter the US.
Factors to be considered are:
·
If the entrepreneur has a significant interest in the startup
(at least 15%) and has an active role in the startup’s operations;
·
If the startup was formed in the US within the past three
years;
·
If the startup has substantial and demonstrated potential for
rapid business growth and job creation, as evidenced by:
o significant
investment of capital (at least $345,000) from US investors with record of
success,
o significant
investment of capital (at least $100,000) from a US government entity(ies),
o partially
satisfying one or both of the above criteria in addition to other reliable and
compelling evidence of the startup’s potential for growth and job creation.
Under this new rule, the
entrepreneur may be granted up to a two year stay in the US to oversee
startup. The entrepreneur may be granted
an additional three year stay, but only if the entrepreneur and the startup
entity continue to meet the criteria above.
For
additional information, please see the USCIS
website.