International Entrepreneurs in the U.S.: L-1A, O-1, EB-5 and IER Visas

The flow of international entrepreneurs to the United States remains robust and measurable. The Bureau of Economic Analysis (BEA) reports that total foreign direct investment stock in the country reached approximately US$ 5.71 trillion in 2024, with multinational affiliates employing roughly 8.66 million workers in 2023, equivalent to 6.2% of U.S. private-sector employment. Activity concentrates in technology, financial services, food and beverage, and requires adequate legal and immigration infrastructure to sustain operations.

This guide breaks down the main immigration pathways used by foreign founders: L-1A, O-1, EB-5 and the International Entrepreneur Rule (IER), based on current USCIS rules for 2026, updated fees and documentary requirements that make each route viable. It also contextualizes the macroeconomic environment that makes the U.S. the most sought-after destination for internationalization.

The weight of foreign capital in the U.S. market

In 2024, new foreign direct investments totaled US$ 151 billion and newly established or acquired companies generated more than 200,000 jobs in the same period, according to the BEA. This landscape proves that the U.S. environment continuously absorbs international capital and creates room for entrants from virtually all developed economies, especially in segments where the brand, business model or innovation thesis can be replicated outside the country of origin.

Sector analysis from the Department of Commerce points to five fronts where foreign capital is advancing most in the U.S.: software and IT services, financial services, food and beverage, business services, and chemicals and plastics. The combination reveals two predominant strategies. In technology and services, the focus is scaling digital models and raising funding in ecosystems like Silicon Valley, New York, Austin and Miami. In food and beverage, the prevailing approach is internationalizing brands already consolidated in the country of origin, with adaptation to local tastes and sanitary regulations. Chemicals and business services round out the picture with B2B operations that depend on proximity to U.S. clients and suppliers.

L-1A: the transferred executive route

The L-1A visa, governed by 8 CFR § 214.2(l), is designed for intracompany transfers of executives or managers who have worked for at least one continuous year in the last three years at a company outside the U.S., to a U.S. parent, branch, subsidiary or affiliate. The petition is filed via Form I-129. The initial duration is up to three years, with extensions that can total seven years. Companies with recurring transfer volume may apply for an L-1A blanket petition, which pre-approves the corporate relationship and accelerates individual processing.

This route is especially attractive for entrepreneurs who want to open a new operation in the U.S. In that case, USCIS classifies the petition as a new office, with an initial approval of only one year and a requirement to demonstrate a viable business plan, contracted physical space and an organizational structure that justifies an executive position. Renewal after that period requires proof of active operations, revenue and hired staff.

The L-1A allows the holder to obtain a green card through the EB-1C category via Form I-140, without a PERM or prevailing wage determination, making it one of the fastest paths to permanent residence when there is a consolidated multinational on both sides of the operation.

O-1: for entrepreneurs with an extraordinary track record

The O-1A visa, established under INA § 101(a)(15)(O), is for individuals with extraordinary ability in business, sciences, education or athletics. Eligibility requires the applicant to meet at least three of USCIS’s eight criteria, including recognized awards, participation as a judge of peers’ work, significant original contributions, authorship of publications in professional media and high compensation compared to peers in the sector.

For foreign founders, the O-1 works when there is a documented history of impact: led investment rounds, acquisitions, exits, specialized press coverage, talks at recognized conferences and board memberships. The visa is issued for up to three years, with annual extensions with no theoretical limit, as long as the work project remains active. Unlike the L-1A, it requires a U.S. agent or petitioning employer, which can be the entrepreneur’s own company with formal structure.

EB-5: residency by investment

The EB-5 program, anchored in INA § 203(b)(5), grants a green card to investors who deploy capital in a project that creates at least ten full-time jobs for U.S. workers. Following the EB-5 Reform and Integrity Act of 2022 (EB-5 RIA), in effect in 2026, the minimum amounts are: US$ 1,050,000 for investments in standard areas and US$ 800,000 for investments in Targeted Employment Areas (TEA), which include rural zones, high-unemployment areas or infrastructure projects.

The most common path is through Regional Centers, which channel capital into already-structured real estate, hotel or industrial projects. The Form I-526E fee is US$ 11,160 and obtaining conditional residency initially lasts two years, with conditions removed via Form I-829 after proof of jobs created.

EB-5 is the only business immigration route that delivers a green card directly, without going through a corporate petition, but requires rigorous documentation of the lawful source of funds, generally the most time-consuming part of the preparation.

International Entrepreneur Rule: parole for startup founders

The International Entrepreneur Rule (IER), established under 8 CFR § 212.19, allows up to three founders per company to remain in the U.S. for periods of up to five years to develop a startup with substantial growth potential. It is not a visa, but a discretionary parole granted by USCIS.

The criteria updated in October 2024, published in the Federal Register, require the founder to hold at least 10% of the company, play a central role in operations and that the business has received qualifying investment of at least US$ 311,071 from U.S. investors with a track record, or government grants and awards of at least US$ 124,429, or a partial combination of both criteria as long as the entrepreneur demonstrates substantial potential through other evidence.

For extension, it is necessary to demonstrate minimum annual revenue of US$ 622,142, creation of five qualifying jobs or new fundraising of US$ 622,142. The IER is one of the few routes specifically designed for pre-Series A founders and has been underutilized due to lack of awareness, despite approvals having grown following USCIS’s additional regulations.

Recent regulatory changes

The past two years have brought important adjustments for foreign founders. The IER update in October 2024 raised minimum amounts and clarified accepted documentation, including bank statements, tax returns, I-9 employment records and client contracts. EB-5 continues to be governed by the Reform and Integrity Act of 2022, with enhanced integrity and stricter auditing of Regional Centers.

USCIS also published 2024 updates to the Policy Manual on L-1, with more specific guidelines for new office petitions and requirements for active operations at renewal. USCIS fees were adjusted on April 1, 2024, with I-129 base at US$ 1,385 for employers with more than 25 employees and US$ 695 for small employers, and I-140 at US$ 715. Premium processing costs US$ 2,965 and offers a response within 15 business days for most categories.

Structuring entry with a method

The choice between L-1A, O-1, EB-5 and IER depends on the entrepreneur’s profile, business maturity and desired length of stay. Those already operating a consolidated international company tend to prefer the L-1A for its natural bridge to the EB-1C. Entrepreneurs with a public track record and sector recognition find flexibility and unlimited renewals in the O-1. Investors with available liquid capital and documented asset profiles choose EB-5 for its direct green card delivery. Early-stage startup founders with traction and U.S. funding benefit from the IER.

Regardless of the path, three pillars define success: early legal planning, corporate and tax structure aligned in both countries and flawless financial documentation. The United States continues to absorb international capital at an accelerated pace and the regulatory environment, while demanding, is predictable for those who follow the rules to the letter.

Victoria Harper

Editor-in-Chief

Meet the author

Leading journalism and editorial content at Visto n’ Visa, Victoria helps make immigration topics clear, trustworthy, and easy to understand. Her focus is on delivering useful, human, and relevant content for people exploring new paths abroad.