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International Entrepreneur rule delayed and under threat of elimination
Kirill Abbakumov   on Monday, August 7, 2017 at 8:00:00 am

On July 11, 2017, the Department of Homeland Security (DHS) under U.S. Citizenship and Immigration released a notice that it is temporarily delaying the effective date of the International Entrepreneur Final Rule in order following the Presidential Executive Order on improved border security and immigration enforcement. This delay provides an opportunity to obtain comments from the public regarding a proposal to rescind the rule and review the possible implications.

The International Entrepreneur rule is designed to enhance entrepreneurship, innovation, and job creation in the United States. The rule would add new regulatory provisions on the use of parole in case-by-case basis for entrepreneurs of start-up entities whose entry into the U.S. would provide a significant public benefit through the substantial and demonstrated potential for rapid business growth and job creation. Such potential would be indicated by the receipt of significant capital investment from U.S. investors with established records of successful investments, or obtaining significant awards or grants from certain federal, state or local government entities. Granting parole would provide a temporary stay of up to 2 years (extendable by up to an additional 3 years) to allow the entrepreneur to oversee and grow their start-up entity in the country. A request for re-parole would be considered if the entrepreneur and his or her start-up entity continues to provide a significant public benefit as evidenced by substantial increases in capital investment, revenue, or job creation.

The delay and subsequent review of the rule provides the public, economic developers, and related entities and organizations to provide their feedback on the potential positive impact of the program on communities, cities, counties, and state where international entrepreneurs are responsible for significant improvement and creation of opportunities. In addition, potential negative implications from rescinding of the rule are also welcome for review by the DHS. The International Entrepreneur is similar to the EB0-5 visa program that incentivizes investment and employment creation in the U.S., and was also placed under review.

The implementation of the rule is delayed from July 17, 2017, to March 14, 2018                . Written comments from the public must be received on or before August 10, 2017 through the Federal Register.