There is a lot flying around these days about immigration, and if we are honest, most of it tends to be negative. What do we do about people coming into the country illegally? Do we accept refugees? These are all hard questions. But plenty of immigrants settle here with all of the proper documents and become a part of the fabric that is America. Many have come over for school and find themselves in booming careers. But what happens if you help create a successful start-up and then your visa expires?
The Department of Homeland Security (DHS) recognizes that promising start-ups can help improve our nation’s economy. Not only do they often lead huge strides in innovation, but they do a lot of capital spending and create jobs.
Under a new final rule, DHS will be allowed to use what’s called the “parole authority” to grant entrepreneurs an extended stay in the country if they can prove their business will grow and create more job opportunities. The DHS estimates nearly 3,000 entrepreneurs will be eligible for consideration each year.
Only three people can be granted this “parole” per start-up. Stays could be extended up to 30 months and would apply to spouses and children as well. There are restrictions, however. Entrepreneurs may only work for their start-up and must have a substantial ownership interest. They must also show how their company can provide a significant benefit to the U.S.
The final rule is effective July 17, 2017.