Effective October 1, 2021, the Department of Homeland Security (DHS) is increasing investment and revenue amount requirements for the international entrepreneur program.
DHS explained that on January 17, 2017, the agency published a final rule guiding the use of parole on a case-by-case basis with respect to “entrepreneurs of start-up entities who can demonstrate through evidence of substantial and demonstrated potential for rapid business growth and job creation that they would provide a significant public benefit to the United States.” The 2017 regulation provided that the investment and revenue amount requirements would automatically adjust every three years by the Consumer Price Index for All Urban Consumers (CPI–U). DHS issued the new final rule to inform the public of the increased amounts that will take effect at the start of fiscal year 2022 and to revise the regulations to accurately reflect the updated investment amounts.
The final rule states:
- An applicant may be considered for initial parole if he or she demonstrates that his or her entity has received, within 18 months immediately preceding the filing of an application for initial parole, either a qualified investment amount of at least $264,147 from one or more qualified investors or an amount of at least $105,659 through one or more qualified government awards or grants.
- In the alternative, an applicant who partially meets one or both of those criteria may still qualify for further consideration by providing other reliable and compelling evidence of the start-up entity’s substantial potential for rapid growth and job creation.
- Similarly, an applicant may be considered for re-parole if he or she establishes that during the initial parole period, his or her entity:
- Received at least $528,293 in qualifying investments, qualified government grants or awards, or a combination of such funding, during the initial parole period;
- Created at least 5 qualified jobs with the start-up entity during the initial parole period; or
- Reached at least $528,293 in annual revenue in the United States and averaged 20 percent in annual revenue growth during the initial parole period.
- An applicant who partially meets one or more of the criteria may still qualify for consideration by providing other reliable and compelling evidence of the start-up entity’s substantial potential for rapid growth and job creation.
- A qualified investor is defined as “an individual or investor who, among other requirements, has made investments in start-up entities comprising a total of no less than $633,952 in a 5-year period and at least two of those entities created at least 5 jobs or generated at least $528,293 in revenue with an average annualized revenue growth of at least 20 percent,” the rule states.