07/17/2017 - International Entrepreneur Rule On Hold
International Entrepreneur Rule On Hold
In January, the Federal Register announced that a new option for entrepreneurs, the International Entrepreneur Rule, would take effect on July 17, 2017 (today). [Please see our postings on August 27, 2016 and January 17, 2017 below.] This generated a lot of hope and excitement for the entrepreneur committee, until last week when the Federal Register announced that the effective date of this rule would be put on hold until March 14, 2018 in order that the public may provide feedback in response to the possibility of rescinding this rule. While this outcome is not a surprise given the current political climate, it is also not likely that the rule will take effect in March.
Individuals who were hoping to benefit from the International Entrepreneur Rule however are not without other options. Options such as the E-1, E-2, and other nonimmigrant visas still remain viable short-term options for individuals to consider. Likewise, depending on the level of experience and accomplishment of the entrepreneur, the individual may also want to consider any of the short-term and long-term accomplishment-based visa options. In fact, in the big picture, these options may offer a more stable and long-term alternative solution to the proposed International Entrepreneur Rule.
The above information has been provided for educational purposes only. Please contact your Clark Lau LLC attorney to consider the facts of your situation and what options are available to you.
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