Things to know about International Entrepreneur Parole (IEP) Program | Fusion - WeRIndia

In a bid to foster entrepreneurship and innovation on American soil, the United States has introduced the International Entrepreneur Parole (IEP) program.

It provides foreign startup founders with an alternative avenue for U.S. work authorization.

The IEP program offers an opportunity to those who don’t yet qualify as an O-1A.

To take advantage of this program, entrepreneurs must fulfil the following fundamental requirements supported by specific documents.

To be eligible for IEP, you must have established a U.S. startup within the last five years that conducts lawful business and exhibits significant potential for rapid growth and job creation.

Essential documents proving your company’s startup status include articles of incorporation, tax records, and financial statements.

You need to demonstrate your entrepreneurial prowess by showing you have at least a 10% ownership stake in the startup.

Supporting documents, such as articles of incorporation and equity certificates, will establish your ownership interest.

Additionally, you must play an active and central role in the daily operations and future growth of the startup.

Letters from investors, news articles, patents, and a detailed position description will attest to your pivotal role.

Within 18 months before applying, your startup must secure a minimum of $250,000 in capital investment from qualified U.S. investors with a track record of backing successful startups.

Alternatively, your startup could have received at least $100,000 in grants or awards from U.S. federal, state, or local government entities.

To confirm your eligibility under this criterion, you should provide evidence of your startup’s potential for rapid growth and job creation if you only partially meet the funding requirements.

Ensuring that the investment funds come from qualified U.S. investors involves submitting organizational documents and proof of the investor’s U.S. citizenship or lawful permanent residency.

The IEP program offers a lifeline for foreign entrepreneurs eager to cultivate their business ventures in the United States.

By meeting these key requirements and assembling the necessary supporting documents, visionary innovators can embark on a journey to contribute to the U.S. economy.

Also, they can fulfil their entrepreneurial aspirations on American soil.

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