Trump Administration Officially Delays 'Startup Visa' Rule (sfchronicle.com)

Trisha Thadani, reporting for SFChronicle: The Trump administration has officially delayed a rule that would allow some foreign entrepreneurs to stay in the U.S. and build their companies. During this delay, the administration will propose a plan to rescind the rule all together, according to a Federal Register notice that will be published Tuesday. This official notice, which will be published in the Federal Register Tuesday, comes exactly one week before the rule was slated to go into effect. It will be delayed until March 14. The International Entrepreneur Rule, is the closest the United States has come to the "startup visa" Silicon Valley has long sought, was approved by the Department of Homeland Security in January during President Barack Obama's waning hours in office.

Comments

Re:"Entrepreneur"

[Anonymous Coward]

So I invest $250k for a 90% share of your LLC. You come to the US and start your "business" where you work for minimum wage and I am your sole client with a 5-year locked-in contract. Versus paying the prevailing wage of $100k+ per year that could save me a lot of money.

Re:Excuses

[randomErr]

The ones that come to mind are:

• Encourage citizenship
• Keep money in the US
• Stop the loophole that prevents the US from taxing foreign nationals

Re: "Entrepreneur"

[vux984]

Real investors? Or can you or your wife simply invest in your business with 250k line-of-credit against the house?

If not, what if we run it through a holding company so that it looks more arms length? "See, I have memorandum of understanding from MyOfficeChair Startup Venture Capital Ltd, and they've wired the money to the account; see here... and here...

Seriously... the idea that you need 250k lined up from investors sounds good on paper to people who think that's a lot of money. But for a lot of people, that's really not much money at all; and if they just need to 'front it' for the duration of the application process a LOT of people could come up with it for a couple months.

I know I could.

Listen to Bernie

[rsilvergun]

and the progressives. They're not saying we won't pay for it. They're saying we _can_ and _should_ pay for it. They then proceed to point to all the other wealthy countries paying for it just fine. Big difference.