By Rahul Reddy Attorney at Law
The new Employment Authorization for Entrepreneurs rule will be published on January 17, 2017 and will become effective July 17, 2017. The new rule will allow entrepreneurs to acquire work permits for 2.5 years in the initial period. That employment authorization can be extended for 2.5 more years if they continue in the same business.
Qualifications for Employment for the International Entrepreneur:
- The business has to be a startup entry
- The entrepreneur has to have at least 10% ownership entry and must have knowledge, skill, and experience to assist the entity in conducting business.
- Must have capital investment of at least 250K in the business from a qualified U.S. entity/investor (which will be defined in further detail) OR alternative to the 250K the entity must demonstrate 100K of monetary grants from the government OR demonstrate compelling evidence that entity will supply significant public benefit to the U.S.
Defining factors of a qualified U.S. entity/investor:
- Invested at least $600,000 in preceding 5 years
- Invested in at least 2 entities which have created 5 qualified U.S. jobs OR Generated at least 500K OR Increased revenue by 20% every year
Extending Employment authorization from 2.5 years to 5 years:
- The new entity continues to exist
- The applicant continues to be an entrepreneur
- The business has drawn 500K more investment OR 20% more revenue OR created at least 5 full time jobs OR has Significant Public benefit to US.
Eventual Green Card
1. The entrepreneur will be eligible to apply for a non-immigrant visa or a Green Card after the employment authorization is over or within the employment authorization period.
Reddy & Neumann, P.C. is an immigration law firm in Houston, Texas. For over 15 years, our firm has successfully represented corporate clients across the United States in their efforts to bring foreign workers and business professionals to the United States. Reddy & Neumann, P.C. is highly experienced in working with employment-based visas, adjustment of status, green cards, and PERM labor certification. From filing, through approval, and on to appeal, we do everything possible to ensure that your company can bring the best and brightest in the world to the United States.