A memo from the Department of Homeland Security earlier this week announced the startup visa rule delayed in the United States. Published during the last few days of the Obama administration, the International Entrepreneur Final Rule was intended to allow DHS to grant a stay period to select foreign entrepreneurs growing their startups in the U.S.
Startup visa rule delayed
The rule was focused on startups that could demonstrate fast business growth and job creation in the U.S., thereby providing significant benefit to the public. Startups that met these requirements would then be eligible for “parole status,” granting them a longer stay period of growing their business.
The rule was scheduled to take effect on July 17, but the recent memo has pushed that date back to March 2018. During that interim, DHS will solicit comments from the public about the potential of removing the rule altogether.
The reaction to Monday’s memo from the business immigration community has been an overall disappointment, with many pointing out that the change will likely have a negative impact on business growth, job opportunities and innovation in the U.S.
For more information, read the full CNN report.