Getting Into the United States under the new International Entrepreneur Rule
Starting Oct. 2017, your start-up idea/young co. creating jobs & finding U.S. $ can get you into the U.S. for up to 5 years to work on it. It's a regulation, not a visa- if you misbehave you get kicked out. But if it benefits the public, you're in, even if you fall short on certain requirements.
What's the Big Idea?You've got this great idea. Maybe you've even got a company that's been working on it less than five years. If it's destined to be a money-maker and a jobs-maker and improve lives, then there's no where better to ramp it up and take it to the next level than the United States. We're home to the world's greatest companies and it's not a coincidence- this is the place to be, where big dreams and hard work are handsomely rewarded.
Show Me The MoneyIf you can find U.S.-based money, you're well on your way. It's got to come from an investor with a track record of doing these kinds of deals. This investor has to be a U.S. citizen, legal permanent resident, or U.S.-majority-owned-or-operated company. And if they're in the private sector then they should be investing US$250,000.00. If it's a government group, they should be investing US$100,000.00.
Hitting Your TargetsOn top of the numbers covered above, your start-up's got to be good enough to create 5 jobs in the U.S. You've got some time, though, to get things growing. Once you're in, if you show some progress during the first 30 months, then you get another 30 months to keep growing. And even if you've got a little less investment money or jobs created than you're supposed to, it's ok. The government will consider any other evidence of potential for business growth, job creation, and public benefit
to qualify. And you can bring your spouse to join and to work in the U.S. Unmarried kids can join too.
Why I Personally Love This RegulationMy prediction is this opportunity is poised for growth. This might seem bold to say given that entry under lots of immigration categories is shrinking under the new administration. But this rule's different and here's why. This thing was made with tech in mind. I know because I'm the one who drafted the first legislation in the U.S. Congress that got this whole thing started almost a decade ago. The bill went nowhere fast thanks to politics. But great ideas never go away so Obama snuck it in as a regulation right before leaving office. It's supposed to start July 2017 but Trump's got a 3-month delay on new regs so we're looking at October. Speaking of the president, he's got a ton of tech giants closely advising him at his request. In other words, this president shares his predecessor's belief that tech can grow our economy and this International Entrepreneur Rule fits right in that mold. It'll take some time but this'll eventually become a formal visa category. In the meantime, we're expecting almost 3,000 slots to fill with few people even knowing this exists, so the time is now to start planning to take advantage and be one of the first ones to make it in.