U.S. Citizenship and Immigration Services (USCIS) has released updated information about the International Entrepreneur Rule (IER), an initiative from the Obama era that permits foreign entrepreneurs to launch businesses in the United States.
Established in January 2017, the IER allows these entrepreneurs to stay in the U.S. to develop their companies.
In 2018, the Trump administration attempted to suspend the rule due to concerns over its execution, but a court decision required the Department of Homeland Security (DHS) to start accepting applications again. The Biden administration has since expressed its support for the IER, ensuring it remains a viable route for international entrepreneurs to contribute to the U.S. economy.
Despite this, the program has not been widely successful. Since the 2021 fiscal year, USCIS has received 94 applications, with 26 approved, 28 rejected, and 40 still pending or withdrawn.
In an attempt to boost the program, USCIS published updated information on July 12, 2024 to its website, including a detailed FAQ section, and this detail:
“Start-up entities must demonstrate substantial potential for rapid growth and job creation by showing at least $264,147 in qualified investments from qualifying investors, at least $105,659 in qualified government awards or grants, or alternative evidence.”
Other key criteria to qualify for the program include:
- Entrepreneurs must be involved with a U.S. start-up formed within the past five years.
- Entrepreneurs can be either living abroad or already in the United States.
- Start-up entities must have been established in the U.S. within the past five years.
- Up to three entrepreneurs per start-up can be eligible.
- Spouses of entrepreneurs can apply for work authorization, but children cannot.
Under the rule, entrepreneurs can receive an initial stay of up to 2.5 years to oversee and grow their company in the U.S. An extension of up to 2.5 additional years may be granted if the startup continues to provide a significant public benefit, demonstrated by substantial increases in capital investment, revenue, or job creation.
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