Feds move to end International Entrepreneur Rule that lets foreign-born founders grow startups in US

(Facebook Photo / Homeland Security)

The Department of Homeland Security is moving forward with its plan to rescind the International Entrepreneur Rule, which was enacted as a startup visa substitute. And because this is a bureaucracy, DHS needs to make a rule to rescind the rule.

Thursday morning, DHS published a proposed rule that would dismantle the IER. President Barack Obama enacted the IER as a pathway for foreign-born entrepreneurs to build their companies in the U.S. after Congress failed to pass a true startup visa. The IER allows immigrant entrepreneurs to live in the U.S. for two to five years if their startups meet certain benchmarks of success.

The Trump administration has been working to undo the IER for the past year. Last summer DHS delayed implementation of the rule a week before it was scheduled to take effect.

The National Venture Capital Association sued, claiming the delay violated administrative procedures by neglecting to solicit public comment. A judge in the U.S. District Court for the District of Columbia sided with the NVCA. The judge ordered DHS to begin accepting applications for the IER but the NVCA says no applications have been processed.

DHS plans to publish its rule-to-rescind-the-rule May 29.

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