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The Department of Homeland Security (DHS) is proposing a rule to rescind the International Entrepreneur Rule. The move was expected, especially after the White House Office of Information and Regulatory Affairs approved the proposal. The proposed regulation is scheduled to be published in the Federal Register on May 29.
Key points:
BAL Analysis: By rescinding the rule, the Trump administration is going against a global trend where countries are seeking to attract innovation through entrepreneur and start-up visas. DHS did stress that other options are available for some entrepreneurs, including the E-2 and EB-5 investor visa programs. The rescission of the Entrepreneur Rule is not yet finalized; officials must observe a notice and comment period before a final rule can be published and implemented. This alert has been provided by the BAL U.S. Practice group. For additional information, please contact berryapplemanleiden@bal.com.
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