A coalition of business leaders, investors, and organizations

sent a letter on February 8, 2018, to President Donald Trump in

support of the International Entrepreneur Rule (IER), which is in

effect following a court order. The Trump administration has

signaled that the IER is likely on the chopping block. The letter

says that killing the IER “would upend the ability of talented

immigrant entrepreneurs to launch new enterprises and employ

American workers in communities across the United States.”

Among other things, the letter notes that “Rescission of

the International Entrepreneur Rule” has been pending review

with the Office of Management and Budget since November 17, 2017.

“This potential new rule places a dark cloud over IER, as

immigrant entrepreneurs are uncertain of how long IER will be in

place,” the letter notes:

The rescission rule stifles investment into new companies with

foreign-born founders, which ultimately costs the U.S. economy. It

also exacerbates an alarming trend of elite entrepreneurs launching

successful startups outside the United States. Twenty

years ago our country's share of global venture investment was

90%, but that number has dropped precipitously to 81% in 2006 and

to 53% in 2017. In 2016, China was home to six of the ten largest

venture capital investments in the world. If we continue to push

entrepreneurs overseas, our share of global investment will

continue to decrease.

As background, on January 17, 2017, the Department of Homeland

Security (DHS) published the International Entrepreneur final rule

with an original effective date of July 17, 2017. On July 11, 2017,

DHS published a final rule delaying the effective date until March

14, 2018, to allow for a full review of the rule. The Trump

administration proposed in late 2017 to rescind the final rule. In

December 2017, a federal court ruled in National Venture

Capital Association v. Duke that the rule should go into

effect because the government had not provided sufficient

notice-and-comment for the delay rule under the Administrative

Procedure Act.

The full text of the coalition letter may be viewed HERE

TechNet, with 77 member companies, sent a similar letter to U.S.

Citizenship and Immigration Services, available HERE.  

The court's decision is available HERE

View the USCIS statement following the court order HERE.  

Information on how to submit an international entrepreneur

application is HERE

The content of this article is intended to provide a general

guide to the subject matter. Specialist advice should be sought

about your specific circumstances.

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