New Proposed Immigration Rule Would Grant Temporary Status To International Entrepreneurs Looking To Start Companies In The United States

Laner Muchin, Ltd.
Contact

Laner Muchin, Ltd.

In August 2016, the U.S. Department of Homeland Security (DHS) announced a new proposed rule called the “International Entrepreneur Rule,” which, if passed, would benefit thousands of immigrant entrepreneurs looking to start businesses in the United States. Under the proposed rule, DHS would issue temporary permission (known as “parole”) for entrepreneurs of start-up entities whose entry into the United States “would provide a significant public benefit through the substantial and demonstrated potential for rapid business growth and job creation.” Specifically, the proposed rule would grant immigrant entrepreneurs temporary permission to live in the United States if they have at least fifteen percent ownership in startup companies formed in the United States within the past three years. In addition, the companies must have investment of least $345,000 from qualified investors from the United States. Currently, the proposed rule is in the public comment phase, and the Obama administration hopes that the rule will be finalized before President Obama’s term ends on January 20, 2017.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Laner Muchin, Ltd. | Attorney Advertising

Written by:

Laner Muchin, Ltd.
Contact
more
less

Laner Muchin, Ltd. on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide