USCIS Announces Adjustments to International Entrepreneur Rule Threshold

The U.S. Citizenship and Immigration Services (USCIS) published a 10.Oct.2024 policy alert for the USCIS Policy Manual, incorporating recent updates to the investment and revenue requirements to qualify for parole under the international entrepreneur rule. Per regulation, the various key threshold requirements to qualify under the international entrepreneur rule must be adjusted every three years to keep pace with inflation. The policy alert details the latest changes in the threshold requirements and lays out the process for collecting biometrics from applicants who are outside the United States. An overview of the international entrepreneur program can be found in the MurthyDotCom NewsBrief, USCIS Restores Parole Program for International Entrepreneurs (26.May.2021).

Summary of Adjustments to the Program

A brief summary of the adjustments is provided here, for the benefit of MurthyDotCom readers.

For an initial application, an entrepreneur must have either received qualified investments of at least $311,071 from qualifying investors, or at least $124,429 in qualified government awards or grants. In the alternative, an entrepreneur may partially satisfy one or both of these criteria and submit other reliable and compelling evidence of the startup entity’s substantial potential for rapid growth and job creation.

For an application for re-parole, an entrepreneur must demonstrate that the start-up entity either has received a qualified investment, qualified government grants or awards, or a combination of such funding, of at least $622,142; created a minimum of five qualified jobs; or reached annual revenue in the United States of at least $622,142 (previously $528,293) and averaged no less than 20 percent in annual revenue growth.

The final rule also adjusts the requirements for a “qualified investor.” An individual or organization must have made investments in startup entities totaling at least $746,571; and after such investments were made, no fewer than two of these startup entities must either have (a) created a minimum of five qualified jobs; or (b) generated at least $622,142 in revenue with average annualized revenue growth of no less than 20 percent.

Biometric Procedure Clarification

The updated guidance clarifies that biometrics must be collected before an application may be approved. However, the USCIS may issue a conditional approval notice prior to the collection of biometrics. For an applicant who is not a Canadian citizen, along with the conditional approval notice, the USCIS will provide instructions on obtaining biometrics and the necessary travel document from a U.S. embassy or consulate. For a Canadian citizen applicant, the USCIS solely will provide instructions on submitting biometrics, as no travel document is required of a Canadian.

Conclusion

While these are relatively minor changes to the international entrepreneur parole program, it still is important to know key details if you are interested in pursuing an application through this program. The Murthy Law Firm has represented a number of entrepreneurs in successfully filing these applications and is available to consult with individuals who would like to learn more about this unique program.

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