DHS amends regulations for foreign entrepreneurs

The Department of Homeland Security has amended its regulations surrounding its discretionary parole authority in order to increase and enhance entrepreneurship, innovation, and job creation in the U.S. The final rule, which will go into effect July 17, adds new provisions that can be used on a case-by-case basis with respect to foreign entrepreneurs of start-up entities who can demonstrate a potential for rapid business growth and job creation, and thus provide a significant public benefit to the U.S. That potential could be indicated by, among other things, the receipt of significant capital investment from U.S. investors with established records of successful investments, or by obtaining significant awards or grants from certain federal, state or local government entities. If granted, the parole would provide a temporary initial stay of up to 30 months (which may be extended by up to an additional 30 months) to facilitate the applicant's ability to oversee and grow his or her start-up entity in the United States.