US Legislation Updates 2017
US Homeland Security has released an advanced copy of regulations, set to be published within a few days, which will create a new International Entrepreneur Rule.
Under the new rule, the entrepreneurs will enter the U.S. without a visa – legally, they will be “paroled” into the U.S.
For purposes of the rule, the start-up must have been established in the U.S. during the past 5 years. An “entrepreneur” is someone who: (1) Owns at least 10% of the start-up (2) Plays an active and central role in the growth of the company.
Per the rule, entrepreneurs of start-ups that have substantial potential for growth and job creation* – will be allowed into the U.S. to develop their companies.
Entry to the U.S. under this rule will be for a maximum time frame of 30 months, with the opportunity of extending the stay for an additional 30 months. Accompanying spouses can obtain employment authorization.
Israelis’ can file applications under this new rule as of July 2017.
*”substantial potential for growth and job creation” refers to start-up companies that have received at least $250k from established U.S. investors such as VC firms, Angel Investors and Accelerators