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Will Immigrant Entrepreneurs Create New Jobs? Homeland Security Thinks So

hiringsign.jpgOn August 31 st , United States Citizenship and Immigration Services (USCIS)
published a rule proposal that if put into effect would give the Department Of
Homeland Security (DHS) the power to grant parole to eligible foreign
entrepreneurs. DHS could then allow qualifying people to enter and live in the
United States. An initial grant for two years, followed by a three-year grant, would
be available in order to allow qualifying entrepreneurs to oversee their projects.
There are three fairly simple criteria to qualify as a "foreign entrepreneur" under
the proposal:


1. Entrepreneurs who have a significant ownership interest in the startup (at
least 15 percent), and have an active and central role to its operations.


2. Entrepreneurs whose startups were formed in the United States within the
past three years.


3. Entrepreneurs whose startups have substantial and demonstrated
potential for rapid business growth and job creation, as evidenced by any of the
following:
 Receiving significant investment of capital (at least $345,000) from
certain qualified U.S. investors with established records of successful
investments
 Receiving significant awards or grants (at least $100,000) from certain
federal, state or local government entities
 Partially satisfying one or both of the above criteria in addition to other
reliable and compelling evidence of the startup entity's substantial
potential for rapid growth and job creation

Also, only 3 people can get this eligibility in a "start up" company at a time. A
company must also continue to fall within the "start up" definition in order for any
re-enrollment in the program. The DHS may put this rule into effect once it has
reviewed all public comments. With the intense public debate about immigration,
there may be a lot. Evan Xavier Bakhet is a J.D. Candidate at Rutgers School of
Law-Newark with a scheduled graduation date in 2017. He collaborated with me
on this blog. 

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