Future of International Entrepreneur Rule remains uncertain

The Trump administration is expected to rescind the International Entrepreneur Rule, which was finalized just before President Obama left office and was slated to take effect July 17.

Key points:

• The regulation was sent back to the Office of Management and Budget (OMB) for further review last month. A U.S. Citizenship and Immigration Services (USCIS) spokesperson reportedly confirmed that the rule is still under review, but did not provide a timeframe for completion.
• If implemented, the rule would grant qualifying foreign entrepreneurs permission to remain temporarily in the U.S. to grow their startup businesses. Applicants would be required to meet minimum capital investment or government grant requirements and demonstrate that their startup would provide a significant public benefit through rapid growth and job creation.
• BAL is advocating to keep the rule in place. Other groups, including startup founders, investors, and civic leaders, have also urged the agency to move forward with implementation of the regulation.

BAL Analysis: Recent reports indicate that the administration will likely delay or suspend implementation of the rule. BAL is closely monitoring the situation and will provide updates on significant developments.

This alert has been provided by the BAL U.S. Practice group. For additional information, please contact BerryApplemanLeiden@bal.com.

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