IMMIGRANT – ENTERPRENUER VISAS
On May 10th, 2021, the White House announced the return of the International Entrepreneur Rule (IER) that was introduced by President Obama’s administration back in 2017.
It was suspended by Trump administration before it took effect.
The rule allows more entrepreneurs to immigrate to the U.S. and start businesses, with eligible immigrants:
Period of Stay:
For up to five years.
$250,000 in investment in a business and own at least a 10% share.
Estimated Immigrant to get benefit from the program:
It’s estimated that around 3000 immigrants could take advantage of the policy.
Upto One Million Jobs could be indirectly generated from their respective businesses.
SIGNIFICANT PUBLIC BENEFIT – PAROLE POLICY:
The Trump administration opposed the policy because it relies on ‘parole’, which allows the U.S. to let in foreigners without visas, providing there is a “significant public benefit.” US-based investors and potential start up founders from around the world have been campaigning for ways for business owners to stay in the country and grow their businesses – even more so in the wake of the COVID-19 pandemic and its impact on the economy and job market.
START UP VISA:
The call for some form of ‘start up visa’, which can already be found in the likes of Canada, the U.K. and Australia, as an easier route for entrepreneurs to come to the U.S. besides the existing O-1, EB-1 and EB-2 visas.
UNITED STATES – MAGNET FOR ENTERPRENUERS and STARTUP COMPANIES:
The United States has long been known as a hub for entrepreneurs and success of countless start up companies, especially in the science and technology industries. With the promotion of local productions, industries, and building in America policy, it will be thrill magnet opportunity for the entrepreneurs and business to come, and invest in the USA and set up their businesses in the USA with the visa opportunity, and to further boost the USA economy.
For further details about this Entrepreneur Visas and Parole opportunity:
Contact us at:
Misbah Chaudhry & Associates, PLLC.
Immigration Law Firm
11511 Katy Freeway, Suite # 500
Houston, TX 77079
Tel: (281) 870-1300 & (281) 870-1302
Fax: (281) 840-6886
Skype ID: misbahchaudhry11511