International Entrepreneur Rule — Another pathway for immigrant founders
In the last 5 months since it was proposed, many entrepreneurs asked me if I thought the International Entrepreneur Rule will go into effect, and if so, in what form. The DHS answered the question yesterday by enacting the International Entrepreneur Parole, moving one step closer to allow international entrepreneurs one more pathway to build their startups in the US. As it stands today, the rule will go into effect on July 17, 2017.
The enacted rule relaxed some of the requirements from the original proposal (we expressed our thoughts on the proposal here), specifically on capital requirement, founder ownership, time to secure next round of financing, and amount of financing required. The requirements in the original proposal weren’t onerous, and the enacted rule makes it even easier for early stage startups, which is great. This kind of immigration policy change attracts high-skilled job-creators to the US, and gives them a pathway to build companies, and create American jobs.
I understand that there are questions or concerns on whether the new administration will allow the rule to go into effect in 180 days (July 17, 2017), or if it will be postponed, modified, or cancelled. Until we hear more, I will assume that the DHS has given international entrepreneurs one more option to stay and build their companies in the US. I sure hope the rule stays — who knows if the next Google / Instagram / Apple / Yahoo is founded by an entrepreneur on the International Entrepreneur Parole!
W/b Nitin Pachisia
