The US Startup Visa: International Entrepreneur Rule Goes Into Effect July 17th 2017

$250k VC/angel investment & 10% ownership puts you on a path to being US-based for 5 years to build and grow your startup.

Image source: WSJ

Great news for foreign entrepreneurs thinking about setting up or growing their startup in the US. This proposal has passed the state of “final rule” now in the US — and goes into effect on July 17th 2017, as things stand.

This “final rule” is much relaxed than the original proposal. Will this usher in a new wave of immigrant entrepreneurs to the US?

Criteria needed, from my quick reading of the below document. Use at your own risk & consult an immigration attorney:

• At least $250k investment from US based investors (VCs/Angels/etc) who have a successful track record.
• 30 month stay permit + extension by another 30 months possible.
• Startup entity created within the past 5 years.
• Own at least 10% of the startup.
• Max of 3 people can apply per startup.
• Spouse is eligible to apply for a work auth.
• During this “parole” period, free to apply for other immigrant/non-immigrant visa.

For renewal for another 30 months (total max of 5 years, including initial application and then renewal), criteria:

• Must own 5% of the startup equity at time of re-application.
• Receive additional $500k in funding in first 2.5 yrs OR $500k annual revenue with 20% average annualized growth OR created 5 full-time jobs for US workers OR demonstrate the above partially and rapid growth.

International Entrepreneur Rule