The International Entrepreneur Rules program was approved in 2017 and is aimed at investors who have started a business in the United States. According to the requirements, if the project benefits the country's economy, the founder gets the right to obtain a residence permit in the country. The other day, USCIS announced that it plans to make changes to the requirements. Find out what will change for businessmen and startups in the USA from October 1

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USCIS has announced changes to the requirements for an international entrepreneur visa, including plans to increase the investment and income thresholds. The last update of the rules took place in 2021.

What is the International Entrepreneur Program in the USA known for? What will change for international investors in the US in 2024? We tell.

What changes does USCIS plan to make to the International Investor Program?

US Citizenship and Immigration Services (USCIS) has announced that it will raise the investment and profit thresholds for foreign startup founders applying for a visa under the International Business Rules. The changes will take effect on October 1, 2024.

From this date, in order to obtain a permit, foreigners will have to demonstrate that their company has received:

- Investments of at least $311,071 (currently $264,147).

- At least $124,429 (currently $105,659) in government awards or grants.

Importantly! If the startup does not fully meet the above criteria, provide other strong and reliable evidence that demonstrates its significant potential for rapid growth and job creation.

To renew a permit, an existing business must meet the following requirements:

- At least $622,142 (currently $528,293) of investment.

- Created at least five jobs or achieved annual US revenue of at least $622,142 (currently $528,293).

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What additional conditions are established for entrepreneurs within the program?

In addition to investing a certain amount of funds in enterprises, a number of additional requirements are put forward:

- Entrepreneurs must be involved in a startup in the US established within the last five years.

- Entrepreneurs can live abroad or already be in the United States of America.

- Start-ups must have been established in the US within the last five years.

- Up to three entrepreneurs per startup will have the right to a permit.

- Spouses of entrepreneurs will be able to apply for a work permit, children - not.

For what period is the permit issued under the "Rules of the International Entrepreneur"?

Under the rule, entrepreneurs can get an initial stay of up to 2.5 years to oversee and develop their company in the US. An extension of up to 2.5 additional years can be granted if the start-up brings significant benefits to society, as evidenced by significant growth in capital investment, revenue or job creation.

Why is the "International Entrepreneur Rules" program important for the United States?

For many years, immigrant entrepreneurs have made an exceptional contribution to the American economy. Immigrants have helped create at least one in four small businesses and high-tech startups across America, most of which are located in Silicon Valley. However, none of these immigrant entrepreneurs came to America on a visa intended for startup founders, as the US did not have such a permit for many years.

How many people have received permission under the "International Entrepreneur Rules" program in the USA

Since FY 2021, USCIS has received 94 investor visa applications, of which:

- approved – 26,

- rejected – 28,

40 cases are pending or withdrawn.

Details of the International Entrepreneur Rules program, requirements and conditions for obtaining a permit are published on the USCIS portal.

We will remind you! The US government has announced a new policy for the legal protection of spouses of undocumented US citizens. It is expected that applications will be accepted from August 19. Find out who can participate in the program and what documents must be provided for legalization in the USA in this article.

Igor Usyk - Head of Migration department at VisitWorld

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