Application for Entrepreneur Parole – What You Need to Know

If you are an entrepreneur who wants to start or grow a business in the United States, the Form I-941 Application for Entrepreneur Parole may be an option for you. This application allows eligible entrepreneurs to enter the U.S. on a temporary basis to develop and oversee their businesses.

What is Entrepreneur Parole?

Entrepreneur Parole is a program designed to attract foreign entrepreneurs who are able to bring significant economic benefit to the United States. It is a temporary immigration status that allows foreign entrepreneurs to remain in the U.S. for up to five years to start, develop, and oversee their businesses. This program is only available to individuals who meet certain eligibility requirements and have a significant ownership stake in their businesses.

The eligibility requirements for the Entrepreneur Parole program are as follows:

1. The entrepreneur must have a significant ownership stake in a U.S.-based startup that has been formed within the past five years.

2. The startup must have received at least $264,147 in funding from qualified U.S. investors or at least $105,659 in government grants.

3. The entrepreneur must play an active and central role in the operations of the startup.

4. The entrepreneur must not have a criminal record or pose a threat to national security.

5. The entrepreneur must be able to demonstrate that their business has the potential for rapid growth and job creation.

How to Apply for Entrepreneur Parole

To apply for Entrepreneur Parole, the entrepreneur must submit a Form I-941 Application for Entrepreneur Parole along with supporting documentation to the U.S. Citizenship and Immigration Services (USCIS). The application must include:

1. Evidence that the entrepreneur meets the eligibility requirements for the program including the substantial ownership requirement. USCIS considers at least 10% ownership interest to be substantial at the time of the adjudication of the initial grant of parole and 5% to be substantial at the adjudication of re-parole.

2. A detailed business plan that outlines the startup’s goals, operations, and potential for growth and job creation. To satisfy the job creation or revenue generation requirement, the applicant must submit documentation, such as tax records, payroll records, Employment Eligibility Verification (Form I-9) records, or audited financial statements.

3. Evidence of the startup’s funding and investment, including documentation of any government grants or qualified U.S. investor funding. The applicant must provide evidence that a qualified investor is the source of the investment, as well as evidence of the amount and date of the investment in the start-up entity.

4. Evidence that the entrepreneur will play an active and central role in the operations of the startup. Within that role, the applicant must be well-positioned, due to their knowledge, skills or experience to substantially assist the entity with the growth and success of its business.

5. Significant public benefit. In addition to meeting the investment, grant, or award criteria, the applicant should submit additional supporting evidence describing their start-up idea and demonstrating its substantial potential for rapid growth and job creation. Such supporting evidence may include evidence of investments from any investors, government awards or grants, or revenue generation. Or letters from relevant government agencies, qualified investors, or established business associations with knowledge of the entity’s research, products or services. Newspaper articles or other similar evidence that the applicant or their entity have received significant attention or recognition.

Once the application is submitted, USCIS will review it to determine whether the entrepreneur meets the eligibility requirements and whether their business has the potential for significant economic benefit to the U.S. If the application is approved, the entrepreneur will be granted Entrepreneur Parole and may enter the U.S. to develop and oversee their business.

Benefits of Entrepreneur Parole

The Entrepreneur Parole program offers several benefits to eligible entrepreneurs, including:

1. The ability to remain in the U.S. for up to 30 months to develop and oversee their businesses.

2. The ability to bring their families with them to the U.S. on dependent visas.

3. The ability to travel outside of the U.S. and return without jeopardizing their Entrepreneur Parole status.

4. The ability to work for their startup and receive compensation. It is not necessary for the parolee to apply for an Employment Authorization Document.

5. The potential to apply for permanent residency in the U.S. through other immigration programs.

Conclusion

If you are an entrepreneur who wants to start or grow a business in the U.S., the Entrepreneur Parole program may be an option for you. This program allows eligible entrepreneurs to remain in the U.S. for up to five years to develop and oversee their businesses, and offers several benefits to those who are approved. If you meet the eligibility requirements for the program, consider submitting a Form I-941 Application for Entrepreneur Parole to USCIS to begin the application process. Please contact us for an evaluation.