USCIS Increases Investment and Revenue Thresholds for International Entrepreneur Rule

Effective October 1, 2024, the U.S. Citizenship and Immigration Services (USCIS) will increase the investment and revenue thresholds under the International Entrepreneur Rule (IER). This adjustment mandated every three years aims to account for inflation. However, the application fee remains the same.

Understanding the International Entrepreneur Rule

The International Entrepreneur Rule (IER) was introduced in 2017 at the end of the Obama administration and empowers the Department of Homeland Security (DHS) to grant parole to foreign entrepreneurs who demonstrate significant potential for rapid business growth and job creation. Successful applicants who are granted parole can work in the United States for their start-up, and their spouses may, in turn, also obtain employment authorization.

Other features of this program include the following:

• Applicant can be currently living abroad or already in the United States.
• There are no restriction or limits in any type of business that the foreign national wishes to start in, as long as it is for benefiting the United States economic development.
• It is subject to discretion of USCIS to grant the parole once parole; once parole is granted by USCIS, the entrepreneur may remain in the United States for up to five (5) years.
• The initial grant of parole is thirty (30) months.
• To renew the parole, the applicant must meet various threshold requirements (see more details discussed in section below)
• Spouse and minor children are also eligible for parole into the United States.
• Spouses are also eligible for employment authorization.
• This is not a grant of legal status, and this is not a pathway to permanent resident status.
• Up to three (3) entrepreneurs per start-up may be eligible for parole.
• If you are in the United States and you choose to receive your parole document at your U.S. address, USCIS will mail you the multiple use Form I-512L advance parole document as well as entrepreneurship approval notice.
  • You must leave the U.S. and appear at the U.S. port of entry for CBP parole determination so you can re-enter the U.S. on parole and then begin your entrepreneur parole

Key Changes to the IER Thresholds

As per regulation, USCIS will make the following dollar figure changes effective October 1, 2024:

• Initial Application: Entrepreneurs must now show at least $311,071.00 (presently $264,147.00) in qualified investments, $124,429.00 (presently $105,659.00) in qualified government awards for grants to demonstrate their startup's potential, or if partly meeting the threshold investment, alternate reliable evidence that would suggest the start-up entity’s potential for substantial growth and job creation.
• Second Period of Authorized Stay: To qualify for an extension, start-ups must meet at least one of the following criteria:
  • Receive $622,142.00 in qualified investments or grants (presently $528,293.00)
  • Create at least five qualified jobs.
  • Achieve annual revenue of $622,142.00 (presently $528,293.00) with at least 20% annual growth.  
• Qualified Investor: To be considered a qualified investor, an individual or organization must have invested at least $746,571.00 (presently $633,952.00) in startups over the past five years, with at least two of those startups creating five jobs or generating at minimum $622,142 (presently $528,293.00) in revenue.  

DHS has also published adjusted dollar amounts in a final rule on July 25, 2024. These increased thresholds reflect the evolving economic landscape and aim to maintain the IER's effectiveness in fostering entrepreneurship within the United States. As more updates are subject to be published, we encourage our readers to check our website regularly for updates on this and all matters revolving immigration law.