The Trump administration has officially moved to scrap the International Entrepreneur Rule, which was finalized in the final days of Barack Obama’s presidency and would have granted qualifying foreign entrepreneurs permission to remain temporarily in the U.S. to grow their startup businesses.
- The administration has provided notice to the Office of Management and Budget that it plans to end the rule, which never took effect. The publication of an official proposal to repeal the rule will set off a notice and comment period, during which time stakeholders will be afforded the opportunity to provide input.
- The administration’s decision to end the rule is not a surprise. In July, the administration delayed the implementation of the rule and signaled its intent to rescind the rule altogether.
Background: The International Entrepreneur Rule was published in the Federal Register Jan. 17, 2017, and would have granted qualifying foreign entrepreneurs permission to remain temporarily in the U.S. to grow their startup businesses. Applicants would have been required to meet minimum requirements for capital investments or government grants and to demonstrate that their startup would have provided a significant public benefit through rapid growth and job creation in the U.S. Shortly after President Trump took office, the administration signaled it would scrap the rule, consistent with Trump’s harder line on immigration and his push to reverse a number of Obama administration immigration policies.