E-Paper
Startup entrepreneurs can now stay in US for 5 years: How Indians can benefit
US extends stay for non-citizen entrepreneurs under International Entrepreneur Rule to up to five years.
The United States has made it even more easy for business owners and entrepreneurs to extend their stay using the Barack Obama-era programme called 'International Entrepreneur Rule' (IER). As per the programme, entrepreneurs from outside US were initially allowed to stay in the country for two-and-a-half years. Now, the US Citizenship and Immigration Services (USCIS) said that entrepreneurs from outside US can remain for up to five years if their ventures meet specific criteria.
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What is the International Entrepreneur Rule?
The International Entrepreneur Rule allows non-citizen entrepreneurs to apply for an authorised stay in the United States.
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This is based on the public benefit that the business provides. Using the rule, entrepreneurs can work for their startup and their spouses are also eligible for work authorisation.
What are the key criteria for International Entrepreneur Rule?
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- The startup must have been established in the US within the past five years.
- The startup must show potential for rapid growth and job creation and should be backed by investments of at least $264,147 from qualifying investors or $105,659 ( ₹88 lakh) in government awards or grants.
- Up to three entrepreneurs per startup can be eligible for under this rule.
