FAQs About Visas For Foreign Startups
The Biden administration is reviving a program that provides visas for foreign startups, the International Entrepreneur (IE) Parole Rule which allows foreign entrepreneurs to live and work in the United States for up to 5 years. This program is an opportunity for foreign entrepreneurs to come to or to remain in the United States and create and work at a startup business and use their talents and skills to help the American economy and create jobs for Americans. There are many questions about the IE programs, here are answers to some frequently asked questions about the program for foreign startups.
International Entrepreneur Startup FAQs
1. Is This A Visa?
No, the IE is not a visa, it is technically a “parole” and grants permission to enter the United States for a designated period of time for a designated purpose.
2. What Are The Requirements For an IE Parole?
The International Entrepreneur Parole allows foreign entrepreneurs to live and work in the United States for up to 5 years if:
• they invest $250,000 or more in their startup business
• they own at least 10% of the business
• they have a key role in the business
• they hire 10 or more U.S. employees
• they work only for their start-up business
3. Can Family Members Join the Foreign Entrepreneur in the U.S.?
The entrepreneur’s spouses may apply for employment authorization in the United States, but their children can not. Spouses can apply for work authorization with a business other than the founder’s startup.
4. Is There An IE Quota?
There is no quota or limit on how many IE paroles can be awarded to foreign entrepreneurs.
5. Is There A Foreign Founder Wage Requirement?
No, there is no wage requirement for foreign founders under the International Entrepreneur Parole Rule.
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.
Cook and Dupage County Business Immigration Attorneys
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.