John Burson  edited Thursday, July 25, 2024

Follow

USCIS to Begin Triennial Investment and Revenue Threshold Updates for International Entrepreneur Rule

USCIS Update, July 24, 2024: Significant Revisions to the International Entrepreneur Rule

Significant Changes Announced by USCIS for the International Entrepreneur Rule

The U.S. Citizenship and Immigration Services (USCIS) has recently announced significant updates to the International Entrepreneur Rule that will take effect starting October 1, 2024. These changes are essential for noncitizen entrepreneurs aiming to contribute significantly to the U.S. economy through rapid growth and job creation via EB-5 Visa Program. Here's what you need to know about the upcoming modifications and how they might affect aspiring international EB-5 investors and entrepreneurs. 

For expert insights on best practices for EB-5 applications, make sure to check out this informative article.

Background of the International Entrepreneur Rule

Established in 2017, the International Entrepreneur Rule allows the Department of Homeland Security to utilize its parole authority selectively. This authority enables noncitizen entrepreneurs who can demonstrate that their start-up entities have substantial potential for rapid growth and job creation to stay in the U.S. for a certain period. If granted parole, these entrepreneurs are authorized to work in the U.S. incident to their parole, and their spouses can also apply for employment authorization.

Critical Updates Effective October 1, 2024

Starting October 1, 2024, the USCIS is set to increase the investment and revenue thresholds required under the rule. This is part of a routine update that occurs every three years to adjust for inflation.

Investment Requirements:

• For an initial application, the amount of qualified investments from qualifying investors required will rise from $264,147 to $311,071.
• Entrepreneurs will need to show at least $124,429 in qualified government awards or grants, up from $105,659.
• Those who cannot fully meet the threshold investment or award criteria must provide alternative, reliable, and compelling evidence of the startup's substantial potential for rapid growth and job creation.

Requirements for a Second Period of Authorized Stay:

• Entrepreneurs must demonstrate that their startup entity has received either a minimum investment of $622,142 or the same amount in government grants or a combination thereof, up from $528,293.
• Alternatively, the entity must have created at least five qualified jobs or reached at least $622,142 in annual revenue in the U.S. with an average yearly revenue growth of at least 20%.

Qualified Investor Definition Adjustments:

• A qualified investor must now have invested at least $746,571 (previously $633,952) in startup entities over the past five years, with those entities each creating a minimum of five qualified jobs or generating at least $622,142 in annual revenue with a minimum of 20% average yearly growth.

Application Fees Remain Unchanged

Despite these adjustments, the International Entrepreneur Rule application fees will not increase, which is positive news for applicants considering the overall cost of the application process.

Conclusion

These updates underscore the USCIS's commitment to facilitating the contributions of international entrepreneurs to the U.S. economy. The increase in thresholds reflects economic changes and ensures that only those startups with significant potential to impact the U.S. market can qualify under this rule. For more detailed information on this topic, you can visit the USCIS International Entrepreneur Rule page.

Aspiring EB-5 investors and entrepreneurs should carefully review these changes and prepare their applications accordingly to meet the updated criteria.

Visit this comprehensive article on PaperFree.com for a detailed discussion of the EB-5 program's benefits and considerations, especially concerning TEAs.