John Burson  edited Wednesday, October 16, 2024

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Updated Guidance for International Entrepreneur Rule Affecting EB-5 Visa Applicants

U.S. Citizenship and Immigration Services (USCIS) has Issued Policy Guidance for International Entrepreneur Rule

Key Points

• The update includes new rules for the International Entrepreneur Program, which automatically adjusts investment and revenue amounts for applicants every year.
• USCIS will now work with the State Department to help arrange biometrics appointments for entrepreneurs outside the U.S. or those receiving their documents at a U.S. embassy.

On October 10, 2024, the U.S. Citizenship and Immigration Services (USCIS) announced significant updates to the International Entrepreneur Rule that directly impact EB-5 visa applicants. This rule is designed to enhance the entrepreneurial landscape in the United States by adjusting investment and revenue thresholds, clarifying the biometrics process, and providing a more streamlined pathway for noncitizen entrepreneurs.

New Investment and Revenue Thresholds

Under the revised guidance, the minimum investment required for noncitizen entrepreneurs has increased to $311,071, while the revenue threshold is now set at $124,429. These adjustments are part of an automatic inflationary increase established by the original rule published on January 17, 2017, which mandates updates every three years. This ensures that the program remains relevant and competitive, reflecting current economic conditions.

The increase in investment and revenue requirements is expected to strengthen the quality of startups entering the program, as these financial benchmarks require entrepreneurs to demonstrate a greater commitment to their ventures. By elevating these thresholds, USCIS aims to attract more serious investors who can contribute meaningfully to the U.S. economy through job creation and business growth.

Streamlined Biometrics Process

Another key aspect of the updated guidance is the clarification regarding the biometrics submission process for applicants residing outside the United States. USCIS will coordinate with the U.S. Department of State to facilitate biometrics appointments for conditionally approved entrepreneurs. This means that applicants who choose to receive their parole documentation at a U.S. embassy or consulate will have a more efficient process for completing their applications.

This enhancement is particularly beneficial for international entrepreneurs, as it reduces potential delays in processing applications and provides clearer pathways for obtaining necessary approvals. By simplifying the biometrics process, USCIS aims to foster a more supportive environment for foreign entrepreneurs looking to establish businesses in the U.S.

Effective Date and Immediate Impact

The updated thresholds and guidelines will take effect on October 1, 2024, and apply to all requests filed on or after that date. The new policy replaces previous guidelines and reflects USCIS’s commitment to adapting the International Entrepreneur Rule to serve better the needs of the U.S. economy and its diverse entrepreneurial community.

This guidance is particularly significant for EB-5 visa applicants, as it sets a new standard for investment and revenue expectations. Entrepreneurs will need to reassess their business plans to meet the higher requirements, which could impact their ability to secure funding and launch their ventures.

Conclusion

The updated International Entrepreneur Rule represents a strategic move by USCIS to align the EB-5 visa program with current economic realities and expectations. By raising investment and revenue thresholds and streamlining processes, the U.S. government aims to attract high-caliber entrepreneurs who can contribute to job creation and economic development.

For further details and to access the full policy alert, please visit the USCIS website. This new framework underscores the importance of robust entrepreneurial activity as a cornerstone of economic growth in the United States, paving the way for future innovations and job opportunities.