October Updates to the International Entrepreneur Parole Program 

U.S. Citizenship and Immigration Services (USCIS) has revised certain eligibility requirements for the International Entrepreneur Parole (IEP) program, set to take effect on October 1, 2024. 

The IEP program is not a visa category, but, like certain visas, it offers foreign entrepreneurs and startup owners temporary authorization to live and work in the United States to manage their businesses. The program is meant as an alternative to conventional business immigration visas and helps foreign citizens grow their U.S.-based businesses and contribute to the American economy, particularly through job creation. 

The original IEP framework was introduced during the Obama administration. However, the Trump administration attempted to rescind the regulation, delaying its implementation. This led to a lawsuit, resulting in only a small number of IEP applications being processed by USCIS. 

In May 2021, the Department of Homeland Security (DHS) announced the continuation of the IEP program. Since then, USCIS has been processing applications.  

The most recent updates to the program affect the minimum investment and revenue thresholds required for program eligibility and will become effective on October 1, 2024. 

New eligibility criteria 

Under these new changes, applicants to the IEP program must: 

• Have a U.S.-based startup that was founded in the last five years before filing the application 

• Own at least 10% of the startup 

• Be actively involved as a key decision-maker in the operations of the business and not be a simple investor 

From October 1, 2024, startups in the IEP program must have attracted a minimum of $311,071 in investment capital from qualified U.S. investors or at least $124,429 in grants or awards from qualified U.S. federal, state, or local offices.  

The figures for applications filed on or before September 30, 2024, are $264,147 and $105,659, respectively.  

“Qualified investors” are defined as being U.S. citizens or legal residents or an organization that is U.S.-based and majority controlled by American citizens or legal residents. They must also have made substantial investments in other startups over the five years before the application.  

There are provisions for applicants to qualify based on alternative forms of evidence if they do not meet the specified investment levels. Contact an immigration professional for more information regarding eligibility for IEP.  

Benefits of the IEP program   

Despite the increases in eligibility requirements, the IEP is expected to continue to be a popular choice among international entrepreneurs.  

Successful applicants may enter the U.S. for an initial period of 30 months, which can be extended by an additional 30 months for a total of five years.  

Spouses and minor children are usually eligible for the same period of residency. Spouses may also apply for work authorization separately. IEP status does not lead to or support a change to an immigration visa while the IEP holder is in the United States.  

You can find more information on the IEP program here. Speak with an immigration professional if you think the IEP program might be right for you or reach out to us if you want to learn more about a custom-made business plan for your IEP application.