On January 17, 2017, the Department of Homeland Security ("DHS") published a final rule in the Federal Register concerning regulations to implement new International Entrepreneur parole authority. DHS lists increasing and enhancing entrepreneurship, innovation and job creation as its goals for this new rule which is scheduled to become effective on July 17, 2017. The rule provides guidance for the use of parole - on a case-by-case basis - for entrepreneurs of start-ups who can demonstrate they would provide significant public benefit to the U.S. through evidence of "substantial and demonstrated potential for rapid business growth and job creation." Among the criteria adjudicators would consider are receipt of capital investment from U.S. investors with established records of successful investments and obtaining significant awards from certain Federal, State or local government entities. A foreign national who receives a grant of parole under this new rule would be permitted an initial stay of up to 30 months in the U.S., with the possibility of an additional 30 month extension to facilitate the applicant's ability to oversee and grow her or his start-up in the U.S.
We expect to bring you a detailed summary of this new rule in our February newsletter.