SECOND TAKE
CHICAGO SUN-TIMES: US does not make it easy for immigrant entrepreneurs
Biden administration urged to push forward the international entrepreneur rule
You might assume that even the biggest immigrant bashers would welcome bright young people to the US with proven records as entrepreneurs. That was the thinking of the Obama administration. Shortly before president Barack Obama left the White House he created by executive order the “international entrepreneur rule”, which laid out a way for immigrant entrepreneurs to legally stay in the US to start or grow new companies. But the Trump administration, in a characteristically knee-jerk act of hostility towards immigration in almost any form, shelved the rule.
To qualify in terms of the rule, the immigrant entrepreneur must show an ownership stake of at least 10% in the company being created, as well as $250,000 in documented funding from a qualified investor or $100,000 from a government award or grant. The minimum parole period is 30 months. If the business meets certain other benchmarks, such as creating at least five jobs and achieving $500,000 in annual revenue, the parole c...
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