The USCIS will publish final rules on January 17, 2017 on the parole of entrepreneurs in the US and it will become effective 180 days after the publication.
The final rules states, among other things:
1. Parole is not an admission and this is not a new work visa.
2. parole will allow the entrepreneurs and their family member(spouse and unmarried children under 21) to be "paroled into the US for initial 30 months and additional 30 months are possible if certain conditions are met.
3. Parole application is made on form I-941 with filing fees and bio-metric fees.
The basic requirements to qualify an alien as entrepreneur are as follows:
a. own at least 10% of the company equity interest; b. plays active and central role in the operation of the company; c. has at least $250,000 funding from qualified US investors or $100,000 from federal, state or local government funding; d. or if the alien can show significant benefits to the public requirements listed in a, b and c may be lowered.
Extension may be made for once for 30 months. Such entrepreneur should seek other options during this time, such as H-1 or O-1, or seek permanent residency through other existing immigration laws. in another words, the new rule will not lead to green card.