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iWorld / News / USA

U.S. resumes startup visa for foreign businessmen

May 18, 2021

3 minutes read

The U.S. authorities decided to keep the right for foreign nationals to obtain a startup visa, which is provided by the International Entrepreneur parole program. This project was previously suspended and postponed for several years.

Relaunch of the IE program in the United States

According to U.S. Citizenship and Immigration Services (USCIS), the Department of Homeland Security (DHS) intends to withdraw its official announcement of the elimination of the IE program, which began May 11. The change in USCIS plans was influenced by the recent immigration reforms of Joe Biden, President of the United States.

Tracy Reno, acting director of USCIS, noted the U.S. government's desire to support the activities of foreign entrepreneurs in the United States, as the interests of businessmen match the goals of the government.

The draft IE was first released on Jan. 17, 2017, and was supposed to go into effect six months after that date. But DHS suspended the launch of the immigration course until May 29, 2018, and then announced the elimination of the project. The public reacted negatively to this decision because ending IE would have an adverse effect on the economy, innovation, and business in the United States.

Requirements for obtaining a start-up visa for foreign businessmen

The renewal of the program is currently aimed at increasing the number of visas for all foreign entrepreneurs, determined to launch their own startups in America. We are talking about businessmen who, until recently,  were able to come to the United States on H1-B, L-1, E-1 and E-2 visas. It is worth mentioning that obtaining these entry permits involves a number of restrictions and administrative delays.

Under the IE program, no more than 3 foreign nationals may be employed in each new organization. Immigrated businessmen are given the opportunity to work on their startup company. The entrepreneur's spouse can be employed in America.

To get a startup visa, founders of a business in America need to prove the existence of the new business activity. Ownership of a controlling interest is not a key requirement. The entrepreneur must prove his or her involvement in the startup organization, and the business idea itself should benefit the public. The U.S. government also requires that the innovative project be financed by a qualified U.S. investor and receive awards, grants for research and job creation from government agencies.

Source: UGlobal

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