USCIS Announces Triennial Updates to Investment and Revenue Thresholds for International Entrepreneur Rule

HI INDIA NEWS DESK
WASHINGTON, DC – Effective October 1, 2024, investment and revenue thresholds under the International Entrepreneur Rule will increase as mandated every three years, while application fees remain unchanged.

Background
The International Entrepreneur Rule, established in 2017, allows the Department of Homeland Security to grant parole to noncitizen entrepreneurs whose startups have significant growth and job creation potential. Entrepreneurs granted parole can work for their startups, and their spouses may apply for work authorization. Recent updates to the International Entrepreneur Rule FAQs indicate no backlog, enabling quick adjudication of new applications.

Key Changes
• Initial Application: Entrepreneurs must show either $311,071 in qualified investments (up from $264,147), $124,429 in government awards or grants (up from $105,659), or alternative evidence of potential rapid growth.

• Second Period of Stay: Entrepreneurs must demonstrate their startups received $622,142 in funding (up from $528,293), created at least five qualified jobs, or achieved $622,142 in annual revenue with 20% annual growth.

Qualified Investor Definition
• Investors must have invested $746,571 (up from $633,952) in startups over the past five years, with at least two startups creating five jobs or generating $622,142 in revenue with 20% growth.
DHS will publish these adjustments in a final rule on July 25, 2024, effective October 1, 2024.