Immigrant entrepreneurs seeking admission to the US through a special program beginning Oct. 1 will need to invest more in order to qualify, US Citizenship and Immigration Services announced.
In a technical update to the international entrepreneur parole program posted Wednesday, USCIS said it will require that applicants demonstrate that a business entity they’ve founded has received investments of at least $311,071 from one or more qualified investors, or an amount of at least $124,429 through one or more qualified government awards or grants within the first 18 months.
Those investment thresholds are updated every three years. A previous update in 2021 set those minimum thresholds at $264,147 or $105,659, respectively.
Investment thresholds were initially set at $100,000 for investors and $250,000 for government awards or grants when the Department of Homeland Security established the program in 2017.
Entrepreneur parole allows immigrant business founders to come to the US without a visa status on a case-by-case basis if they show the minimum investment amounts.
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