The United States Citizenship and Immigration Services (USCIS) has announced the beginning of a triennial update process for investment and revenue thresholds related to the International Entrepreneur Rule. This update will have significant implications for many international entrepreneurs looking to operate businesses in the U.S.
In an effort to encourage economic growth in the United States, the USCIS has established the International Entrepreneur Rule. This rule permits overseas entrepreneurs to stay in the U.S. temporarily, to build and develop their businesses. However, meeting certain investment and monetary thresholds is essential to securing this entrepreneurial parole.
The USCIS will now perform updates to these thresholds every three years to keep them aligned with the realities of the United States’ inflation rate. All changes will be based on the Consumer Price Index for All Urban Consumers (CPI-U), ensuring fairness and consistent adjustment according to the prevailing economic conditions.
Starting May 5, 2023, the changes to the regulations are as follows: the initial investment requirement will increase from $250,000 to $270,000. Moreover, the revenue threshold that a start-up must receive during the initial parole period is going up from $500,000 to $540,000. The USCIS also revises a $5 million threshold for government awards or grants, or a combination of those sources, up to the same $270,000 minimum. As a result, entrepreneurs must meet the revised amounts to fulfill the criteria for securing parole.
These changes reflect the shift in the Consumer Price Index for all Urban Consumers (CPI-U) since the rule came into effect in 2017, preserving the real monetary value of the thresholds over time. The USCIS recognizes inflation as an economic reality that can minimize the actual value of the thresholds set in this rule.
This initiative supports the U.S. economic growth strategy, by making the necessary adjustments to encourage international entrepreneurs to bring their talents, ideas, and businesses to the U.S. While the adjustments may pose additional challenges for some entrepreneurs, these changes ensure that the rule continues to stimulate job creation and innovation in the United States, while maintaining the necessary checks against any potential immigration fraud.
These updates serve as an important reminder to international entrepreneurs to consider these changes while planning their business operation in the U.S., and to work closely with their immigration attorneys to ensure every aspect of compliance.
(This blog post is based on the information provided by the USCIS in their newsroom article dated January 4, 2023. For more details, see the original publication here: https://www.uscis.gov/newsroom/alerts/uscis-to-begin-triennial-investment-and-revenue-threshold-updates-for-international-entrepreneur).
