The 2024 International Entrepreneur Rule: What You Need to Know
The International Entrepreneur Rule (IER) provides a framework for bringing talented entrepreneurs to the United States. Starting October 1, 2024, new investment and revenue thresholds will apply. This guide breaks down these changes and explains how to successfully navigate the updated system, ensuring compliance and maximizing your venture's potential in the U.S.
Key Changes to the International Entrepreneur Rule
New Investment and Revenue Thresholds
Eligibility and Ownership Requirements
Entrepreneurs must own at least 10% of the startup at the time of initial application. The startup should be U.S.-based, formed within the past five years, and demonstrate substantial growth potential.
- Apply using Form I-941
- Ensure active, central involvement in the business
- Document substantial potential for growth or job creation
Funding and Investment Criteria
Understanding Qualified Investors
A qualified investor must have a track record of investing in U.S. startups, having committed at least $746,571 over five years.
A clear comparison of EB-2 (including NIW), EB-3, and O-1 US employment-based visas for founders and skilled professionals. Understand requirements, applicant profiles, timelines, evidence, and pitfalls.
Government Grants and Revenue Metrics
| Criteria | Threshold |
|---|---|
| Government Award/Grant | $124,429 |
| Revenue (for re-parole) | $622,142 |
Application Process for Entrepreneurs and Families
Filing Procedures
To apply, entrepreneurs should use Form I-941 and include exhaustive documentation that proves investment sources, ownership, and operational roles.
Family Inclusion and Benefits
Spouses and children can join the entrepreneur using Form I-131, with spouses eligible to apply for work authorization upon being paroled into the U.S.
Frequently Asked Questions
How much ownership is required in the startup?
You need at least a 10% ownership interest at the time of the initial application.
What constitutes a qualified investment?
An investment must be in equity, convertible debt, or other security convertible to equity.
Can I apply while being outside the U.S.?
Yes, applications can be made from abroad provided all criteria are met, including biometrics submission post-conditional approval.
What are the re-parole criteria?
Qualifying for re-parole requires achieving additional investment, job creation, or annual revenue growth milestones.