International Entrepreneur Parole — Recent Updates and Success Stories from an Immigration Attorney 

The International Entrepreneur Parole (IEP) program is a U.S. immigration initiative that allows qualified foreign entrepreneurs to stay in the United States to develop their U.S.-based startup companies. It is intended for those who demonstrate that their businesses have substantial potential for rapid growth and job creation in the U.S. economy. 

The IEP program is not as well known as regular business immigration visa categories but, in many instances, delivers similar benefits. That’s why Joorney organized International Entrepreneur Parole — Recent Updates and Success Stories from an Immigration Attorney. 

Watch our full online presentation about the International Entrepreneur Program with special guest and immigration professional Fiona McEntee. 

To help guide us through this interesting but under-researched alternative for startup owners, we were joined by Chicago-based immigration attorney Fiona McEntee, whose work with clients in the McEntee Law Group has given her a deep background in the IEP and familiarity with the program’s background, structure and opportunities.  

Watch the entire presentation at the link above or read the highlights of the conversation below. 

The IEP program changes with the political winds 

While standard business visa programs primarily operate independently of political changes in the U.S., the IEP program has had a different experience. Over the last four to five years, as different administrations have entered and exited into power, the priority assigned to IEP has varied greatly.  

Political disputes over the place of IEP in the overall approach to immigration resulted in bureaucratic and administrative issues that further complicated the picture. The bottom line is that the IEP program has been treated as a political football recently, meaning that its availability and eligibility rules can change going forward. Anyone considering IEP in the future should focus on getting the latest information.  

Basic eligibility requirements for IEP 

There are three early tests to separate the “No” pile from the “Maybes” when it comes to IEP eligibility.  

The first is the requirement that the startup in question must have been founded in the U.S. during the previous five years. There are no provisions for startups older than five years under the IEP program. 

The second hurdle applicants must cross is related to financing. The startup must have already attracted certain minimum investments from U.S. investors (currently about $265,000 but will increase in October 2024) or certain amounts from government awards or grants (currently about $100,000 but also increasing in October 2024).  

There is no path forward for applicants from startups that do not meet this standard.  

The last of the three tests is related to the IEP applicant’s ownership percentage of the startup, which must be at least 10%.  

Is the IEP a better path than “regular” business visas? 

This is a common question, and there’s no single answer that fits all cases. It depends on the circumstances of the applicant and many other factors.  

Some applicants may have a stronger case under the terms of other options, like an E-2 investor visa. However, this is not an option for someone from a country without an E-2 treaty with the United States. Or perhaps their ownership percentage is too low for that visa.  

The IEP provides an option that may or may not be a good fit for a given candidate. When you work with an immigration professional, part of their job is determining which visa program aligns best with the needs and circumstances of the client.  

As Fiona McEntee says during the conversation, “Immigration is like a series of steps in a journey. Some people’s journey has more stops along the way. And just because this is your first step or maybe your second step, it doesn’t mean you’re attached to it forever. There’s more than one way to your destination. Right now, with high tech and AI and the evolution of business, things are moving so quickly. It’s important that people are able to get work authorized quickly, so it’s best to focus on which path is the shortest.” 

The future of the IEP program 

Despite the changes it has gone through and the political considerations mentioned above, Fiona is confident that the IEP will survive and succeed because it fills an important gap in U.S. business immigration policy.  

She believes that as applicants build a successful track record of bringing their startups to market and establish a solid history of consistent job creation, more attention will be brought to this niche, potentially resulting in a general reform of the existing visa categories and introducing a dedicated startup visa.  

At a minimum, the existence of the IEP program is a reminder that some startup owners who do not fit neatly into other existing categories need other alternatives. 

These are just some of the takeaways you’ll find in the full version of International Entrepreneur Parole — Recent Updates and Success Stories from an Immigration Attorney with special guest Fiona McEntee. Watch the full recording of the webinar on Joorney’s YouTube channel. 

Reach out to us today if you’re in need of an IEP program business plan.