On Jul 11 2017 by Andrew J. Zeltner
Trump Administration Delays and May Eliminate the “Startup Visa”
The International Entrepreneur Rule, which was issued in the waning days of the Obama Administration, has been delayed. The Department of Homeland Security (“DHS”) announced today that the implementation of the rule (set to take effect on July 17, 2017) will be delayed until March 14, 2018, and that the agency may rescind the rule entirely.
The Rule was promulgated to provide an additional option for foreign entrepreneurs to be able to work in the U.S., and grow their companies. The Rule aimed to increase and enhance entrepreneurship, innovation and job creation in the United States. Under the terms of the Rule, international entrepreneurs would be eligible to apply for work authorization, if they have established a business in the U.S. and can demonstrate substantial potential for business growth and job creation.
The final version of the Rule included several positive changes from the initial proposal, including several changes suggested by our firm and its advocacy partners. These included a lower funding threshold, lower ownership requirements and a longer period of initial stay. Indeed, entrepreneurs were eligible to obtain up to five years of work authorization under the rule. For a further discussion of the eligibility requirements, please review our client alert from January 2017.
DHS has announced that it will accept public comments regarding the delay and potential elimination of the Rule until August 10, 2017. We would advise all interested parties to make your voices heard during the comment period and submit comments to DHS, urging the agency to fully implement the Rule and adopt regulatory policies that are welcoming for international entrepreneurs to stimulate economic growth and create jobs in the U.S.
Please contact your Klasko Law attorney with any questions.