On September 13, 2021, USCIS announced a 5.6% increase in the eligibility criteria for the International Entrepreneur Rule (IER) program. The new criteria take effect in fiscal year 2022, which began on Oct. 1, 2021. According to the USCIS website (U.S. Citizenship and Immigration Services), the new criteria for the program officially called the International Entrepreneur Parole are:
• If relying on an investment from a qualifying investor, the amount is increasing from $250,000 to $264,147.
• If relying on a government award or grant, the amount is increasing from $100,000 to $105,659.
• The revenue amount for consideration of re-parole is increasing from $500,000 to $528,293.
• Qualifying investors will need to show aggregate investments in start-up entities of no less than $633,952 (rather than $600,000) over five years. They will also need to show that, subsequent to those investments, at least two of those entities have each created five jobs or generated at least $528,293 (rather than $500,000) in revenue with annualized revenue growth of at least 20%.
Learn More: FAQs About Visas For Foreign Startups
An experienced business immigration attorney can help immigrant founders, investors and entrepreneurs move to Illinois and move their business to the U.S. or invest in an existing business in the United States.
Godoy Law Firm’s business immigration attorneys can help immigrant investors and entrepreneurs move to Illinois. Contact Godoy Law Office today at 630-912-0322 to answer your questions about immigration, help you file an immigration application and guide you through every step of the immigration process.