New EB-5 Backlog Option: Entrepreneur Parole
On December 14, 2017, U.S. Citizenship and Immigration Services (“USCIS”) announced that it will accept applications for the new Entrepreneur Parole program. Through this program, entrepreneurs and their families can come to the U.S. for up to five years, in two thirty-month increments.
Under the instructions just released by USCIS, entrepreneurs will need to own 15% of a start-up entity incorporated in the last three years. The entrepreneur will need to have some day-to-day role in the company, and the start-up will need to be capitalized by at least $345,000 U.S.-based private funding or $100,000 U.S. (Federal, State, or Local) government funding. Up to three entrepreneurs from each start-up can apply.
- New York
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