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Investors win a Case - Foreign Entrepreneurs can now apply for US residency in Start-Up Visas

December 2017, 16
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Entrepreneurs, who were born outside of USA, are now eligible to apply, under a new category of temporary residency, which permits them to put together, their start-up enterprise, in the US.

The International Entrepreneur Rule of US Citizenship and Immigration Services allowed founders, born in foreign countries to reside in the country while managing their start-ups when they met certain standards for success. Technically The rule is a parole period. Only the Congress is empowered to create new paths to citizenship and categories of visa. President Obama had created the IER as a way to overcome the problem when immigration reform expired.

Presently USCIS is accepting applications for this rule because the Trump administration attempted to abolish it before it was implemented. It was scheduled to take effect from July 2017, but President Trump resorted to an Executive Order to delay its implementation with the aim to rescind it.

The National Venture Capital Association decided to take legal action, saying that the delay was a violation of the administrative procedure and had failed to call for public comment. A US District Court Judge, in the District of Columbia, favored the NVCA and has issued an order to the USCIS for implementing this rule.

Bobby Franklin, NVCA President regarded this decision as an important victory for the US economy, all talented foreign entrepreneurs, as well as for the entrepreneurial ecosystem.

It is a triumph for all who advocate immigration policies to encourage entrepreneurs born overseas to pursue building start-ups in the country. It is a small step on the road to creating a real start-up visa. Meanwhile, USCIS has issued a warning that it was scheduling a plan to rescind the IER, which was in its final stage.

There is a note on the IER application page, where USCIS mentions that the Department of Homeland Security had a plan to propose the removal of the IER as it felt that it was not a proper vehicle to attract and retain international entrepreneurs. Moreover, it did not protect U.S. investors/workers adequately. Besides the warning and the filing fee of $1,200, it is a matter of conjecture, as to how many entrepreneurs, will proceed with applying for it.

It is a significant achievement in the progress of efforts, to reach the global bright entrepreneurs, but a lot of work remains to be done, Franklin concluded.
 
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