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The International Entrepreneur Rule, slated to take effect on July 17, 2017, has been returned to the Office of Management and Budget (OMB) for further review – a move that signals potential changes or delays to the regulation.
The final rule, which was promulgated in the final days of the Obama Administration, would allow qualifying entrepreneurs to apply for up to five years of temporary parole if they have established a U.S. start-up that has substantial U.S. investment and potential for rapid growth and job creation.
The administration has not revealed its plans for the regulation following OMB review, but it could amend, postpone or withdraw it. In an unreleased draft Executive Order leaked to the press earlier this year, the administration indicated it was seeking to curb uses of parole.
What This Means for Employers and Foreign Nationals
Though the international entrepreneur program was set to take effect on July 17, OMB’s review of the final rule could result in delayed or suspended implementation of program or changes to the program’s requirements. Fragomen is closely monitoring the regulatory review process and will provide updates as they become available.
If you have any questions about the international entrepreneur program, please contact the immigration professional with whom you work at Fragomen. This alert is for informational purposes only.
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