Trump delays — and plans to eliminate – foreign founder visas

The Department of Homeland Security has delayed the effective date of the International Entrepreneur Rule. The official notice of the delay will be published in the federal register on Tuesday, according to the Federal Register website. The Trump administration also signaled its intent to ultimately eliminate the rule.

• The rule, put into place in the waning days of the Obama administration, would have allowed foreign entrepreneurs to come to the U.S. to start companies. Read more about it here and here. The July 17 effective date has been postponed until March 14, 2018.
• National Venture Capital Association Bobby Franklin said the move "represents a fundamental misunderstanding of the critical role immigrant entrepreneurs play in growing the next generation of American companies."
• U.S. Citizenship and Immigration Services said in a statement that it decided to delay the rule to ensure it is consistent with the a January executive order requiring DHS to ensure parole authority — or permission to remain in the U.S. for a limited period of time under certain circumstances — is exercised only on a case-by-case basis.
• "During the delay, DHS will be soliciting public comment on a proposal to withdraw to the rule, and individuals will not be able to apply for parole under the International Entrepreneur Rule," USCIS said in the statement.

This post has been updated to include USCIS's statement.