U.S. Immigration Program For Foreign Entrepreneurs Is Reborn

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The Obama administration proposed in 2017 to give foreign entrepreneurs more access to the US immigration program. Trump tried to "kill" this initiative, but Biden reinstated the International Entrepreneur Rule (IER).

 

The IER allows foreign entrepreneurs to work in the United States for up to five years, provided that:

 

  • The startup will receive US$250,000 in venture capital;

  • Will hire 10 employees;

  • Or meets other eligibility criteria.

 

The Biden administration has said it is going to push the program to revive it.

 

"The move comes in response to venture capitalist firms, which have urged the administration to back the program and enable potentially thousands of start-up founders to move or remain in the US to grow their businesses," write workpermit.

 

USCIS estimates that up to 3,000 foreign entrepreneurs per year can apply for it if the program is properly launched. This could lead to the creation of approximately 100,000 new jobs over a 10-year period.

 

WHAT OTHER IMMIGRATION PROGRAMS ARE THERE? FIND OUT HERE

 

Source: workpermit

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